Seagate Corporate Center Owners Association

Key facts from Seagate Corporate Center Owners Association's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial/Industrial Condominium (Business Park) (Recitals of 2006 Master CC&Rs ('business)

Units / lots

12 (condominium units on one parcel) (Resolution condition 36)

Governing law

California Civil Code Section 1350 et seq. (Davis-Stirling Common Interest Development Act) (2006 Master CC&Rs Recitals: 'intent to e)

Assessments & dues

Board establishes annual budget and levies assessments; each Owner pays Proportionate Share based on Land Area (2006 Master CC&Rs Section 5.2)

Special assessments

Allowed (Section 5.3) for additional Common Expenses with Board or Member approval per Governing Documents (2006 Master CC&Rs Section 5.3)

Collections & liens

Association has lien on each Parcel for unpaid assessments, with foreclosure rights (Section 5.1, 5.8) (2006 Master CC&Rs Section 5.1 ('Creation)

Reserves & fees

Common Expenses include reasonable reserves as deemed appropriate by Board (Section 1.14.6) (2006 Master CC&Rs Section 1.14.6)

Leasing & rentals

Yes (commercial leases permitted, implied by business park nature) (2006 Master CC&Rs Section 1.30 defines ')

Parking & vehicles

Vehicular access rights to Corporate Centre Drive relinquished to City (Condition 5); presumably no on-street parking (Resolution condition 5: 'With the except)

Architectural approval

Yes (Architectural Review Committee approval required for Alterations per Article 8) (2006 Master CC&Rs Article 8)

Signs & flags

Subject to Seagate Corporate Center Comprehensive Sign Ordinance (CSP-2-07) per Resolution condition 40 (Resolution condition 40: 'Building signs)

Maintenance

Association maintains Association Maintenance Area (Parking, Driveway, Landscape, Offsite, Parcel 14). Owners maintain their own Parcels and improvements. (2006 Master CC&Rs Sections 1.8 (definiti)

Insurance

Association maintains liability insurance (Section 9.1) and property insurance (Section 9.2) covering common elements (2006 Master CC&Rs Article 9)

Use restrictions

Prohibited (Section 6.6) (2006 Master CC&Rs Section 6.6)

Voting & meetings

Voting power based on Land Area (square footage of Parcels); a Majority of the Voting Power = Owners collectively owning majority of Land Area plus Declarant if it owns any portion (2006 Master CC&Rs Section 1.31: 'Majorit)

Amendments

During Declarant control period, Declarant may amend unilaterally (Section 12.1). After control period, amendment requires vote of Owners holding 75% of Land Area. Also, any amendment affecting City conditions requires City written consent (2006 Master CC&Rs Section 12.1; 2008 Dec)

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