DEFICIENCY NOTICES

DEFICIENCY NOTICES. Means the notices issued to the owners of Condominium Units in the Village Homes on or about May 29, 2002, by the Miami-Dade County, Florida Unsafe Structures Board informing them that certain structural defects appeared in the common elements of their Condominium Units and that these defects had to be remediated or the units would be ordered demolished. A copy of a Deficiency Notice is attached as Exhibit 2.