Guy Place Owners Association

Key facts from Guy Place Owners Association's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Recitals, Section 1.10)

Legal name

Guy Place Owners Association

Governing law

California Civil Code (Davis-Stirling Act) (Multiple references to Civil Code sectio)

Assessments & dues

Regular Assessments set annually by Board based on budget; shares based on square footage of Unit relative to total square footage of all Units; certain costs (insurance, common utilities, reserves) assessed equally per Unit according to Sh (Sections 4.3(a), 4.7(a))

Special assessments

Allowed by Board when estimated expenses inadequate; must be used for specific purpose and segregated unless tax-exempt; subject to limitations on amount and membership approval in certain cases (Section 4.4)

Collections & liens

Lien created upon recording notice of delinquent assessment; priority over all liens except tax and first mortgage; foreclosure by judicial or nonjudicial sale per California Civil Code; redemption period 90 days; certain procedural steps r (Sections 4.13, 4.14)

Reserves & fees

Required; must include adequate reserves for major components; funds can be temporarily transferred to operating fund with Board finding and repayment within 1 year; special assessment to replenish if necessary (Section 4.3(b)-(d))

Pets

Yes (Section 7.4)

Home business

Permitted only as arts activity fulfilling live/work requirement (Section 7.1(b): "Owner or tenant whose p)

Voting & meetings

Class A (one vote per Unit) and Class B (Declarant triple vote per Unit owned); Class B converts to Class A upon earlier of (i) total Class A votes exceed Class B votes or (ii) second anniversary of first Unit conveyance (Article III, Section 3.4)

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