Penasquitos Townhouse Owners Association, Inc.

Key facts from Penasquitos Townhouse Owners Association, Inc.'s documents

Reflects the 1983 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Historical Recitals: 'commonly known as )

Developer / declarant

PENASQUITOS, INC., an Illinois corporation (First page, Historical Recitals)

Governing law

Civil Code of California pertaining to condominiums (Historical Recitals paragraph)

Assessments & dues

Maximum $1,080 per unit until December 31, 1983 (Article IV, Section 3)

Special assessments

Allowed with vote or written assent of 51% of members for capital improvements or other Association responsibilities (Article IV, Section 4)

Collections & liens

Assessment becomes a lien on condominium upon recording Notice of Delinquent Assessment; foreclosable like mortgage; subordinate to first mortgage; power of sale conferred (Article IV, Sections 1, 8, 9)

Reserves & fees

Annual assessment shall include adequate general operating reserve and reserves for maintenance, repair, replacement of common area (Article IV, Section 3 (last sentence))

Pets

Yes, with Board approval; reasonable number of family pets; livestock/poultry prohibited (Article V, Section 7)

Leasing & rentals

Yes, but not for transient/hotel purposes; minimum term 30 days; must be subject to CC&Rs (Article V, Section 2)

Architectural approval

Yes, for exterior changes, alterations, additions, painting, landscaping changes, fences, etc. (Article VI, Section 1(c); Article V, Sec)

Signs & flags

One sign 'Condominium For Sale or Lease' allowed; all others require Board permission (Article V, Section 5)

Insurance

Not required; owners may obtain additional coverage (Article VII, Section 4(b))

Use restrictions

Each unit for private single family dwelling only; no business/commercial (Article V, Section 1)

Voting & meetings

One vote per condominium; when multiple owners, one vote total (Article II, Section 2)

Amendments

Instrument signed by at least 75% of unit owners and recorded (Article X)

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