Old Sac Ilofts Condominium Association

Key facts from Old Sac Ilofts Condominium Association's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (mixed-use residential-commercial) (Recital C; Section 1.11(b))

Legal name

Old Sac iLofts Condominium Association (Section 1.6)

Units / lots

11 (2 Commercial Units and 9 Residential Units) (Recital F; Sections 1.10, 1.28)

Developer / declarant

D&S Development, Inc., a California corporation (Recital A; Section 1.15)

Governing law

California Civil Code sections 783, 1350 et seq., 1351, 1354, 1359, 1363.07, 1366, 1366(b), 7510, 7613 (Recital C, E; Sections 1.5, 1.11, 1.12, )

Assessments & dues

Not fixed; Board shall estimate net funds required and levy Regular Assessments based on Assessment Shares (see Section 6.5). (Section 6.5(a), (c))

Special assessments

Allowed if Regular Assessment inadequate; for General Component, limited to 5% of budgeted gross expenses without member vote; for Special Benefit Component, also 5% limit. (Section 6.6)

Collections & liens

Assessment is a charge on the land secured by a lien. Association may record Notice of Delinquent Assessment and foreclose after 30-day notice and meeting and dispute resolution. (Sections 6.2, 6.12)

Reserves & fees

Board must include reasonable amount for reserve fund for restoration, repair, and replacement of components for which Association is responsible. (Section 6.5(a))

Pets

Yes, domesticated birds, cats, dogs, and aquatic animals in aquarium may be kept in reasonable number (determined by Board) if not for commercial purposes and in compliance with City ordinances. (Section 4.11(a))

Leasing & rentals

Yes, subject to Governing Documents. Written rental agreement required for minimum term of 6 months. Owner must provide proof of criminal background check and credit report for each prospective tenant. (Section 4.12)

Architectural approval

Prior written approval of Board required for any modifications to a Unit or Exclusive Use Common Area that are visible from the exterior. Board may approve or disapprove in its sole discretion. (Section 5.1)

Home business

Residential Units may conduct non-manufacturing business permitted by zoning without special permit. Commercial Units must comply with City zoning and use permits; no pet store. (Section 4.3)

Signs & flags

Board may adopt Rules limiting signs visible from Residential Units and their Exclusive Use Common Areas. Commercial Unit signs subject to City approval. (Section 4.6)

Maintenance

Association has exclusive control over Condominium Common Area and Association Common Area. Owners are responsible for maintaining their Units and Exclusive Use Common Areas as per Governing Documents. Board may perform repairs and levy Rei (Sections 1.11, 3.3, 3.4, 6.7)

Voting & meetings

Two classes: Class A (all Owners except Declarant) has one vote per Regular Assessment share; Class B (Declarant) has separate voting. Only Members in Good Standing may vote. (Section 2.3)

Amendments

This Declaration may be amended pursuant to Article 13 (Supplemental Declarations) and by amendment as allowed by law. (Section 1.16, Article 13 (referenced))

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