How will the Rentcharge payment work? How are costs calculated?

The Terraces at Montane is a Fee Simple subdivision. A Rentcharge will be applied annually to each home site owner for the purpose of paying for the cost of snow removal on sidewalks, soccer field and trail maintenance, which will be administered by the Developer. Annual Rent charge fees are $895 per home site. Rent charge is solely a cost recovery fee, which the developer continues to maintain at reasonable levels. Any increase in the Annual Rent charge is restricted to a maximum of 5% annually.