The Clocktower Lofts Owners Association

Key facts from The Clocktower Lofts Owners Association's documents

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

Community type

Condominium (Article I, Condominium definition)

Units / lots

127 (Recital A and Section 2.1)

Governing law

California Civil Code Section 4275 (Court Order, line 15-16)

Assessments & dues

Regular Assessments established by Board not less than 30 days nor more than 90 days before beginning of fiscal year, based on Pro Forma Budget. (Section 4.3(a))

Special assessments

Board may levy Special Assessments for unanticipated expenses, including emergency situations. (Section 4.5)

Collections & liens

Association has lien against Condominium for unpaid assessments and Additional Charges. Lien recorded as Notice of Delinquent Assessment. Foreclosure allowed if amount > $1,800 or more than 12 months overdue. (Sections 5.5, 5.9)

Reserves & fees

Reserve funds used only for Major Component repair/replacement. Transfer requires Board decision, notification to Owners, and repayment plan. (Section 4.4)

Leasing & rentals

Yes, but only for residential purposes and for periods not less than 30 days. Transient/hotel use prohibited. (Section 8.6(a))

Architectural approval

Yes, for any Alteration (construction, modification, addition). Prior written approval from Board required. (Sections 8.8, 11.2)

Use restrictions

Units shall be used as Live-Work Units: residential and incidental commercial purposes. Commercial limited to first floor (or similar) with employee restrictions. (Section 8.1)

Voting & meetings

Each Owner of a Condominium is entitled to one vote per Condominium. Co-owners must designate one person to vote. (Article III, Section 3.2)

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