Park Central Towers Owners Association

Key facts from Park Central Towers Owners Association's documents

Community type

Covenant / Planned Community

Legal name

Park Central Towers Owners Association

Units / lots

38 (36 standard units plus 2 penthouse units) (Section 4.3)

Developer / declarant

Park Central Towers

Governing law

Davis-Stirling Common Interest Development Act (California Civil Code section 1350 seq.) and Nonprofit Mutual Benefit Corporation Law (California Corporations Code section 5000 seq.) (Article I, Sections 1.1, 1.2)

Assessments & dues

Board estimates cash requirements at least 60 days before fiscal year, assesses owners monthly. (Section 4.3)

Special assessments

May be levied for capital improvements, repair, etc. If aggregate exceeds 5% of budgeted gross expenses, requires 51% member approval. Exceptions for enforcement costs and rebuilding. (Section 4.4)

Reserves & fees

10% of total outstanding assessment(s) or $10.00, whichever greater, compounded monthly, if not paid within 10 days of due date. (Section 4.7)

Pets

Yes, but limited. (Section 7.4)

Leasing & rentals

180 days (Section 7.1)

Architectural approval

Application deemed approved if no written disapproval or request for additional info within 45 days after receipt of all materials. (Section 6.4)

Home business

Professional or administrative occupations allowed if incidental to residential use, no external evidence, and no regular clients visiting. (Section 7.1)

Signs & flags

One sign of customary size for sale/lease per prior written consent, conforming to city ordinances. No other signs on common area except by Board. (Section 7.2)

Maintenance

Not explicitly assigned. Owner responsibility excludes structural integrity. (Section 7.10)

Insurance

Owner causing damage covered by insurance shall indemnify Association for any deductible. (Section 5.3)

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