2351 Powell Street Condominium Association, Inc.

Key facts from 2351 Powell Street Condominium Association, Inc.'s documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Mixed-Use Condominium (Section 1.39 and preamble)

Legal name

2351 Powell Street Condominium Association, Inc.

Developer / declarant

Northpoint Land, LLC, a California limited liability company (Preamble)

Governing law

California Civil Code (Davis-Stirling Common Interest Development Act) (References to Civil Code Sections 1368, )

Assessments & dues

Board adopts annual budget and sets Regular Assessments accordingly (Section 7.05(a))

Special assessments

Board may levy Special Assessments; cap of 5% of budgeted gross expenditures without Owner approval for capital improvements (Section 7.06, Section 4.02)

Collections & liens

Association may record lien and foreclose nonjudicially under Civil Code Section 2924 (Sections 7.13-7.15)

Reserves & fees

Shared Reserve Account and Residential Reserve Account required (Section 7.08)

Architectural approval

Likely required for structural changes (Article IX not fully provided) (General provision for improvements in Se)

Insurance

Association must obtain property and liability insurance as required by Declaration and Article X (Section 10.01(b))

Use restrictions

Residential Units restricted to residential purposes (Section 1.40)

Voting & meetings

One vote per Residential Unit; cumulative voting allowed for Board elections (Section 3.03(a), 3.05(b))

Amendments

Requires 75% vote of total voting power of Association; subject to Eligible Mortgagee consent if affecting their rights (Section 3.07(c), Article XIII, 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.