Osprey Pointe Condominium Owners' Association

Key facts from Osprey Pointe Condominium Owners' Association's documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title and Section 1.1.5-1.1.6)

Legal name

Osprey Pointe Condominium Owners' Association (Section 22 and Bylaws 1.1)

Developer / declarant

Osprey Pointe Marketing L.L.C., an Oregon limited liability company (Preamble and signature block)

Governing law

Oregon Condominium Act (ORS 100.005 to 100.990) (Section 1.1.1)

Special assessments

Allowed; procedure in Bylaws (Section 5.4) (Bylaws Section 5.4)

Collections & liens

Association has lien on Unit/Variable Property for unpaid assessments; foreclosure allowed; purchase at sale; subordinate to tax liens and first mortgage (Section 9.4 and 9.5)

Reserves & fees

Required for Common Elements replaced in 3-30 years; funded by assessments; cannot be reduced without 75% vote after second year after Turnover; separate from operating fund; Board may borrow for seasonal needs (Section 18.3)

Leasing & rentals

Rental of Units permitted in accordance with Rules and Regulations (Section 11); Variable Property improvements also rentable per Bylaws (Section 14.6) (Section 11 and Section 14.6)

Home business

Not explicitly addressed; subject to Rules and Regulations and Master Declaration (No specific provision found)

Insurance

Owner must carry homeowner's insurance on Unit; Variable Property owner must carry liability insurance (Section 26.2)

Voting & meetings

51% of voting power present in person or by proxy (Bylaws Section 2.11)

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