899 Valencia Street Owners Association

Key facts from 899 Valencia Street Owners Association's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

899 Valencia Street Owners Association

Units / lots

24 Residential Units maximum; up to 6 Commercial Condominiums (initial 3 shown) (Section 2.1 (1/24th undivided interest);)

Developer / declarant

899 Valencia 20 LLC, a California limited liability company (Section 1.34 (Definitions – Declarant))

Governing law

California Civil Code Section 4000, et seq. (Common Interest Development Act) (Recitals, page 8)

Assessments & dues

Board adopts budget and sets Regular Assessments; Budget distributed 30-90 days before fiscal year (Section 5.3, Section 5.9, Section 5.11)

Special assessments

Allowed; up to 5% of budgeted gross expenses without Member vote; subject to limitations in Section 5.8 (Section 5.5)

Collections & liens

Unpaid assessments (except Compliance Assessment) become a lien on the unit; enforceable by nonjudicial foreclosure under California Civil Code Sections 2924, 2924b, 2924c (Section 5.14)

Reserves & fees

Association to maintain reserves for repair and replacement; reserve study required for Cost Center as well (Section 5.4 (implied), Section 5.8 (Cost)

Pets

Yes, but limited to domestic pets not bred for commercial purposes (Section 6.1.6)

Leasing & rentals

Yes, but not for hotel/motel/transient purposes; no timesharing (Section 6.1.2, Section 6.1.5)

Architectural approval

Architectural Committee approval required for any alterations or additions to exterior of Unit (Article 8; Section 8.1)

Home business

Permitted if incidental to residential use, in compliance with Applicable Laws, and with Board approval (including State-Authorized Businesses) (Section 6.1.1)

Maintenance

Divided per Maintenance Responsibility Chart (Exhibit B); generally Owner maintains interior, Association maintains exterior and common areas (Article 7; Section 7.1-7.5)

Insurance

Association shall maintain insurance on Association Property (including common areas) and liability insurance (Section 10.1)

Use restrictions

Each Residential Condominium shall be used for residential purposes only, except as allowed in Article 9 or by Board consent for incidental businesses (Section 6.1.1)

Voting & meetings

Class A (all non-Declarant Owners): one vote per Residential Unit; Commercial votes based on Commercial Share (Grid Blocks). Class B (Declarant): votes per Bylaws until conversion to Class A. (Section 4.2)

Amendments

Most amendments require vote of Members; certain amendments (e.g., affecting assessment lien priority, rights of mortgagees) require 90% of Owners and 90% of First Mortgagees (Article 14 (partially seen in TOC); Sect)

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