599 3rd Street Owners Association

Key facts from 599 3rd Street Owners Association's documents

Community type

Condominium (Title and throughout (e.g., 'Condominium)

Developer / declarant

BRAN3 LLC (Section 1.13 (Declarant definition) and )

Governing law

California Civil Code (references to Sections 1351, 1366.3, 1367, etc.) (Sections 1.10, 1.11, 4.10, 4.13, 4.14, 8)

Special assessments

Allowed with majority vote of members; Board may impose up to 5% of budgeted gross expenses without vote; emergency exceptions (Sections 4.4, 4.5(b))

Collections & liens

Unpaid assessments become a lien after recording notice of delinquent assessment; judicial or nonjudicial foreclosure permitted subject to California Civil Code Sections 1367, 2924 et seq. (Sections 4.12–4.15)

Reserves & fees

Required; funds must be accounted as trust funds segregated from regular income; transfer from reserve to operating fund requires written finding and must be repaid within one year (Section 4.3(b), (c))

Pets

Yes, but with restrictions (Section 7.5)

Leasing & rentals

Yes, subject to written lease; less than entire unit leasing not allowed; lessee must comply with governing documents (Section 7.8)

Architectural approval

Board to approve/disapprove within 30 days of application; reconsideration decision within 30 days (Section 7.11(a))

Voting & meetings

Class A (unit owners) – one vote per unit; Class B (Declarant) – voting as per Section 3.4 until conversion (Section 3.4)

Amendments

By vote of Members; certain amendments require 67% of Owners and 67% of Eligible Mortgagees; amendments must be recorded (Sections 8.4, 8.6(d))

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