7330 & 7332 Eads Avenue Owners Association

Key facts from 7330 & 7332 Eads Avenue Owners Association's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

7330 & 7332 Eads Avenue Owners Association

Developer / declarant

7330 EADS AVENUE LLC, a Virginia limited liability company, formerly known as Clark Realty Homes LLC (Opening paragraph, Article 1, Section 1.)

Governing law

Davis-Stirling Common Interest Development Act (California Civil Code Part 5, Section 4000 et seq.) (Article 1, Section 1.1)

Assessments & dues

Board fixes amount at least 30 days in advance of each fiscal year; may change on any subsequent occasion. Regular assessments due monthly on first day of month unless Board determines otherwise. (Section 3.8)

Special assessments

Allowed when Board determines funds inadequate; can be levied for compliance costs as non-lien assessment; requires Board vote and notice. Limits on amount without owner approval as per Section 3.3(b). (Section 3.2, 3.3, 3.4)

Collections & liens

Assessments (except non-lien compliance assessments) become a continuing lien upon recordation of notice of assessment. Association may foreclose lien judicially or non-judicially; power of sale conferred. Lien subordinate to first mortgage (Section 3.1, 3.9, 3.10)

Reserves & fees

Board shall establish reserve accounts as part of annual budget (Section 3.2 references 'establishment of reserve accounts'). (Section 3.2: 'based upon the annual budg)

Pets

A reasonable number of dogs, cats or other household pets may be kept, provided not kept for commercial purpose nor in violation of other provisions. (Section 5.4: 'A reasonable number of dog)

Leasing & rentals

Yes, each Owner has right to lease provided lease is in writing; tenant must abide by governing documents; tenant's failure deemed default under lease. (Section 5.2: 'Each Owner shall have the )

Maintenance

Common roof system is a Common Structure; maintenance, repair, replacement shared per Section 7.4 based on square footage ratios. Interior surfaces and damage caused by Owner are Owner's responsibility. (Section 7.1, 7.3(a), 7.4)

Use restrictions

Residential Units shall be improved, used and occupied for residential use only. Declarant may use as model homes, sales offices until all Condominiums sold. (Section 5.1: 'The Residential Units shal)

Voting & meetings

Two classes: Class A (Owners) 1 vote per Condominium; Class B (Declarant) 3 votes per Condominium. Class B terminates after conveyance of all two Condominiums to First Purchasers or later if FHA/DVA loan in effect. (Section 2.2)

Amendments

Amendments before and after escrow closings (Article XV). Mortgagee approval required for amendments affecting mortgagee rights (Section 15.4). (Sections 15.2, 15.3, 15.4)

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