Here in The Villages, some areas don't even have a Bond. Some areas have only a standard Bond, the portion that you can pay off entirely and some areas have the standard Bond plus a Maintenance Bond which goes on forever and can't be paid off.
The Bonds here are all over the place as far as interest rates and length of time. I had one house that had a bond at 4% interest for 15 years and now my Bond is at 5.5% for 30 years. It depends on the area and the interest rate at the time the home was built. If there is ANY possibility that you will be selling your home within the next ten years, don't pay off the Bond.
If you do pay off your Bond, your asking price will need to be higher to reflect your investment and A LOT of people no nothing about the Bond until it's time to close on the house. No one will mention anything about it, which leaves it like a hidden expense until you close and then it's too late. So buyers are seeing your home as higher in price that another home with the Bond in tact. If you're not going to sell anytime soon, it's just like any loan, the sooner you pay it off the less interest you will pay on it. Your probably going to pay double for the Bond if you let it run for 30 years.