Forecast V Homeowners Association

Key facts from Forecast V Homeowners Association's documents

Community type

Condominium ("a Condominium Project" in title; Articl)

Legal name

Forecast V Homeowners Association

Developer / declarant

THE MICHAEL ANDREW GROUP, INC., a California corporation (Recitals and signing party)

Governing law

California Civil Code (Sections 783, 1351, 1354, 2924, 2924(b), 2924(c), 1356); California Corporations Code (Section 7341); Nonprofit Mutual Benefit Corporation Law (Recital C, Article VI, Sections 3.11, 4.)

Assessments & dues

Maximum regular assessment: $993.84 per condominium until January 1 of year following first conveyance. Thereafter, board may set amount not exceeding adjusted maximum. (Section 3.3)

Special assessments

May be levied for capital improvements with vote or written assent of 51% of each class; after Class B conversion, majority of total votes and majority of non-Declarant members. (Section 3.4)

Collections & liens

Assessment becomes a lien upon recording notice of delinquency. Lien is prior and superior to all other liens except taxes and first mortgages. Foreclosure by judicial action or by power of sale under California Civil Code. (Sections 3.10, 3.11)

Reserves & fees

Regular assessments shall include an adequate reserve fund for periodic maintenance, repair and replacement of the Common Area. (Section 3.1(a))

Pets

Yes, subject to restrictions. (Section 4.4)

Leasing & rentals

Yes, each owner has the right to lease the unit, provided lease is in writing and tenant bound by governing documents. (Section 4.2)

Architectural approval

Yes – for any building, fence, wall, or other structure or improvement on the Common Area; also for painting, decorating, remodeling Common Area; grade changes require Board consent. (Sections 4.8, 4.18)

Home business

Prohibited – no commercial purpose on any unit or Common Area (except Declarant's sales office during sales period). (Section 4.1)

Signs & flags

Only one sign of customary dimensions advertising unit for sale or lease, with Board permission. Declarant may install signs during sales period. (Section 4.6)

Maintenance

Owner responsible for: interior of unit, glass doors/windows including frames and tracks, interior systems (plumbing, electrical, heating) within unit perimeter, all appliances, balconies/patios interior surfaces. Corporation responsible fo (Sections 5.1, 5.2, 5.3)

Insurance

Each owner responsible for deductible amount for any loss to his condominium. (Section 9.3 (paragraph after (d)))

Use restrictions

Yes – each unit shall be improved, used and occupied for private, single-family dwelling purposes only. (Section 4.1)

Voting & meetings

Two classes: Class A (each unit owner except Declarant) one vote per unit; Class B (Declarant) three votes per unit owned. Class B converts when Class A votes equal Class B or two years after final public report. (Article II, Section 2.1)

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