965 Folsom Street Owners Association

Key facts from 965 Folsom Street Owners Association's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Article II: Project is a condominium pro)

Legal name

860 Folsom Street Owners' Association (Section 1.3)

Units / lots

3 (2 Commercial, 1 Residential) (Article II: structure containing two (2))

Governing law

Davis-Stirling Common Interest Development Act (California Civil Code) (Recitals and references throughout (e.g.)

Assessments & dues

Association establishes Regular Assessments annually in an amount sufficient to perform its duties, subject to limitations in Section 4.6 (Section 4.3(a))

Special assessments

Special Assessments cannot exceed 5% of budgeted gross expenses without approval of two-thirds (2/3) of the Owners (Section 4.6(b)(ii))

Collections & liens

Delinquent assessments create a lien upon recordation of a notice of delinquent assessment; foreclosure may be judicial or nonjudicial (trustee sale) under California Civil Code Sections 2924 et seq., but no foreclosure if total debt less t (Sections 4.15 and 4.16)

Reserves & fees

Association must establish reserve funds for future repair, replacement, or restoration of major components of the Common Area; transfers from reserve to operating fund allowed but must be restored within one year unless extended by documen (Section 4.3(d))

Pets

Yes, no more than two (2) domestic dogs, aquatic animals kept within an aquarium; no other animals or birds (Section 7.4)

Leasing & rentals

Yes, but only entire Unit, not less than entire Unit (Section 7.7(a))

Architectural approval

Yes, any alteration, improvement, or structure (including painting, fences, awnings) visible from exterior must be approved by the Association (Section 7.10)

Home business

Home office permitted if it complies with laws governing residential dwelling units (Section 7.1)

Signs & flags

One "For Sale" sign allowed; noncommercial signs 9 sq ft or less and flags/banners 15 sq ft or less may be posted unless prohibited by Association for health/safety or applicable law (Section 7.3)

Maintenance

Association responsible for maintenance of Common Area; Owner responsible for interior of Unit and for Exclusive Use Common Areas (decks D-C, D-C1, roof area RD-C) assigned to Unit C (Sections 5.1(a) and 9.7)

Insurance

Association shall maintain property insurance covering the Common Area and Units (as first loss) including fire, casualty, liability, fidelity, and workers' compensation; earthquake insurance may be purchased if Members vote; all insurance (Section 5.1(b))

Use restrictions

Residential Unit shall be occupied and used for residential purposes only (Section 7.1)

Voting & meetings

One vote per Condominium; co-owners determine one vote; actions requiring membership approval require vote or written assent of two-thirds (2/3) of the Members (Sections 3.3 and 3.4)

Amendments

Declaration may be amended by affirmative vote of two-thirds (2/3) of the Owners (each Unit one vote); amendments must be recorded (Section 9.4)

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