Transportation Building Asso

Key facts from Transportation Building Asso's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

The Transportation Building Condominium

Developer / declarant

H & H Real Estate Development, Inc. (Opening paragraph)

Governing law

Alabama Uniform Condominium Act of 1991, Code of Alabama 1975 §§ 35-8A-101 et seq. (Article 1 Section 1.01(a))

Assessments & dues

Estimated monthly total $8,658.00; per floor $866.00 (Exhibit E)

Special assessments

Board may levy additional assessments if insufficient; no threshold stated except emergency (Section 4.03, Section 5.03)

Collections & liens

Automatic lien for assessments; forecloseable as real estate mortgages; interest, costs, attorneys' fees (Section 4.07)

Reserves & fees

Replacement reserve established in estimated budget (roof, exterior painting, parking lot, etc.) (Exhibit E (Replacement Reserve))

Architectural approval

Yes, prior written consent required for alterations, additions, improvements to unit or exterior (Section 5.02(a)(v)-(vi), 5.02(c))

Maintenance

Association maintains common elements and limited common elements; owner maintains private elements and certain systems (Sections 5.01, 5.02)

Insurance

Association must maintain insurance; details not fully provided but Article 8 addresses (Article 8 (Section 8.02))

Amendments

Developer may amend unilaterally while owning all units; otherwise 75% of members and 67% of mortgagees for certain changes (Section 11.01, 11.02, 2.02, 2.03)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.