library fitness center with TV recreation. / billiards room with projector roof top terrace 1st floor recreation room 2nd floor rec. room 55 acres of grounds Biking trails Hiking/Walking trails Fishing Canoeing Indoor parking garage additional storage available Boat/RV storage available Private Patio Units Available

The budget represents the operational costs of the common areas of the property. These costs are split between the units owners based on the beneficial interest. The beneficial interest is your share of ownership in the common areas and therefore your share of the expenses. Each unit at The High Rocks has an equal beneficial interest of 1.35%. This is how the monthly condo fee of $275.00 is determined. It represents 1.35% of the annual budget. Each item listed on the budget provides you with a complete explanation of how your condo fee is put to use.

This is a very common question for people who are new to the condominium concept. By reviewing the explanation of how the budget works, it is easy to understand that because the condo fees are based on the budget, they can be increased if the expenses for the property increase. The Board of Trustees will review the budget annually. The Board will review the previous years budget and compare it to the year’s actual costs. In most cases, some expenses may be higher while others may be less, so the fee would remain the same. If the total annual budget does need to be increased, condo fees will increase. Typically this is a very small percentage. Major expenses need to be voted on by the entire association before they are incorporated in the budget.

The cost of maintaining a single family can be expensive and full of hidden surprises. In condominium ownership, the budget is planned in advance and split between 120 owners. Examples of some of the expenses that are in common with single family ownership are listed below with a breakdown of the amount of that is included in your fee: Category Cost Per Month Gas for Heat- $ 33.75 Landscaping- 11.81 Snow Plowing 8.67 Master Insurance 31.50 Repair & Maintenance 16.26 Water & Sewer 21.65 Reserve Account 9.51

1.372% of the assessed value of the property

First-time homebuyers (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000 Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010.

High Rocks Condominiums is located on a peninsula with 3 sides bordered by the Blackstone River in Rhode Island. (accessible from Butler street) The 4th boundary line is the MA/RI state line. (Route 122) Although the property is in close proximity to both Route 146 and 146A, because of the river crossing and bridge location, the directions on MapQuest and GPS devices can be incorrect. We suggest that rather than putting into your system “1 Tupperware Drive, North Smithfield RI”, you use “Butler Street, Blackstone, MA”. Butler Street is approx. 600 feet long and starts at the small town square off Main Street/ Route 122 and dead ends at High Rocks Condominiums. Directions from Providence, RI via Route 146 Take Route 146 north to Exit ___ marked “Forestdale Slatersville Route 5-102” At end of ramp bear right onto Great Road. Go approx. 500 ft to light. Take a left on to St. Paul Street. Go to end of St. Paul Street which will be Main Street / Route 122 (Blackstone center) Turn LEFT onto Main Street. Go north approx. 1 mile. Cross new bridge. See small town square with gazebo on left. Turn onto County Street and then immediately onto Butler Street. Go approx. 600 ft to High Rocks Condominiums. Directions from Worcester MA via Route 146 Take Route 146 south. Pass last exit in Massachusetts Exit #1. Take 1st exit in Rhode Island marked “Forestdale Slatersville Route 5-102”. Off ramp take LEFT. At 2nd light approx. 1,000 ft exit take left on to St. Paul Street. Follow to end which will be Main Street / Route 122 (Blackstone center) Take left onto County Street and an immediate left onto Butler Street. Go to the end to High Rocks Condominiums Other routes Any route that gets you to Route 122 is then simple. It will be either one mile north of Blackstone center on left or 2 miles south of Millville center and take a right onto Butler Street just across from Prime Gas Station and signs.

Blackstone-Smithfield Corporation was formed in 1987 to purchase and operate the Tupperware manufacturing and warehouse property, and is currently developing 120 new residential units. David G. Massad Mr. Massad is involved in automobile dealerships, real estate development, and is currently the major stockholder and Chairman of Worcester-based Commerce Bank & Trust Corporation. Mr. Massad recently made a sizable gift of $12.5 million to UMass Medical Center and was honored by them naming their new Emergency Room addition “The Duddie Massad Trauma Center”. Atty. R. Norman Peters Mr. Peters is a well-known Worcester real estate attorney, real estate developer, and has extensive ties to UMass Memorial Foundation. He has been credited with saving the UMass Medical School. Mr. Peters is also active in politics and was asked to be an advisor to 3 governors of Massachusetts. Mr. Peters was an instrument in the Blackstone Gorge Land acquisition for both the Commonwealth of Massachusetts and the State of Rhode Island. Herbert G. Ingram Mr. Ingram is a well-known real estate developer is known for his management skills for over 45 years. Mr. Ingram has been involved as principle in large architectural construction management firm from 1960 to 1992 and has developed for clients and its own real estate partnership hundreds of successful projects in Massachusetts and New Hampshire. Mr. Ingram is Director of Real Estate at Commerce Bank & Trust. Armen Harootian Mr. Harootian has a background in teaching and construction management, and the Project Manager for the Fishersville Mill Project in North Grafton. Mr. Harootian worked to develop 138 residential condominium units at Madison Tower Condominiums conversion and became Manager at Blackstone-Smithfield Corporation. He coordinated the rehab and leasing of this property for warehouse and light manufacturing. He has been instrumental in the current effort to re-phase the property to the residential community as High Rocks Condominiums.

Pets are allowed! We allow cats and small dogs up to 45 pounds. The intent of our breed limitation is to prevent violent or aggressive species that could scare your neighbor!

High Rocks Residents will attend the North Smithfield school system. (THE BUS PICKS UP HERE) If you prefer the Blackstone school system, that is possible, but tuition must be paid.