Friars-Mission Valley Owners Association

Key facts from Friars-Mission Valley Owners Association's documents

Reflects the 1986 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

commercial owners association (Planned Commercial Development) (Recitals and Section 1.2)

Legal name

Friars-Mission Valley Owners Association

Developer / declarant

FRIARS-MISSION VALLEY, LTD., a California limited partnership (First paragraph)

Governing law

California Nonprofit Mutual Benefit Corporation Law (Section 4.1)

Assessments & dues

Initial annual assessment established by Board; not specified in document (Section 6.5)

Special assessments

Permitted; Board determines need; limitations apply (Sections 6.4.2, 6.4.3)

Collections & liens

Yes; notice of assessment recorded; foreclosure under Civil Code Sections 2924 etc.; lien subordinate to first mortgage (Article VII, especially Sections 7.2, 7.)

Reserves & fees

Regular assessments shall include adequate reserve funds for contingencies and periodic maintenance/repairs (Section 6.4.1)

Architectural approval

Yes; Board approval required for any exterior improvements, alterations, additions, including parking area and landscaping changes; also for maintenance that alters exterior appearance (Sections 3.3, 3.8)

Voting & meetings

One vote per Member (Owner); cumulative voting for Board elections; proxy allowed (Sections 5.2.1, 5.2.3)

Amendments

Before first sale: Declarant and all mortgagees. After first sale: material amendment requires unanimous Member vote; non-material amendment requires majority. Also requires consent of any required governmental or mortgagee approval. (Article XIV)

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