Sail Bay Homeowners, Inc.

Key facts from Sail Bay Homeowners, Inc.'s documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Subtitle '(A Condominium Project)')

Legal name

Sail Bay Homeowners, Inc.

Governing law

California Davis-Stirling Common Interest Development Act (California Civil Code Sections 1350 et seq.) (Recitals C and D, page 5)

Assessments & dues

Association establishes annual budget during last quarter of each year; each Owner pays pro rata share of budgeted and other Common Expenses; assessments levied to collect budgeted expenses (Section 4.9, page 18)

Special assessments

Single Benefit Assessment allowed for reconstruction, capital improvements, extraordinary maintenance, or other cost benefiting less than all Owners (Section 9.4, page 29)

Collections & liens

Regular assessments may become a lien enforceable by power of sale; monetary penalties may NOT be treated as such a lien (except late payment penalties and collection costs for delinquent assessments) (Section 9.1A(c) and (d); Section 9.5)

Reserves & fees

Reasonable late payment penalties for delinquent assessments (Section 3.3 (penalties paragraph) and 9.)

Pets

Yes, domesticated pets such as dogs, cats, or other usual and ordinary household pets (Section 5.4, page 18)

Leasing & rentals

Yes, each Owner has the right to rent or lease his Condominium (Section 5.2, page 18)

Parking & vehicles

Prohibited except temporarily for loading/unloading/cleaning (Section 5.8, pages 19-20)

Signs & flags

One sign of customary dimensions advertising Unit for sale or lease and one sign stating existence of security system allowed, visible from outside only with prior written Board permission, must conform to applicable ordinances; Declarant m (Section 5.6, page 19)

Insurance

Association required to maintain fire and extended coverage insurance on Common Area at current replacement cost not less than 100% of insurance value (when mortgagee approval is required for reduction); if individual insurance unavailable, (Section 7.4(f) and 8.2, pages 24 and 26)

Use restrictions

Each Unit shall be improved, used and occupied for private, single-family dwelling purposes only; no portion thereof nor Common Area for commercial purpose (Section 5.1, page 18)

Voting & meetings

Class A (one vote per Unit) and Class B (Declarant three votes per Unit); Class B converts to Class A when Class A votes equal or exceed Class B or two years after first sale, whichever first (Section 3.1, pages 12-13)

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