Aspen Highlands (CO)

Key facts from Aspen Highlands (CO)'s documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (DECLARATION OF CONDOMINIUM FOR ASPEN HIG)

Legal name

Aspen Highlands Condominium Association, Inc. (ASPEN HIGHLANDS CONDOMINIUM ASSOCIATION,)

Developer / declarant

The Ritz-Carlton Development Company, Inc. and Hines Highlands Limited Partnership, jointly referred to as Declarant (THE RITZ-CARLTON DEVELOPMENT COMPANY, IN)

Special assessments

Association shall levy special Assessment if necessary to replenish Reserve Account for full amount of expended funds. Also, Declarant's Report includes total annual and special assessments Declarant obligated to pay and actually paid. (Section 7.2.4 and Section 8.18.3 and 8.1)

Reserves & fees

Reserve Accounts established for General Common Elements, Limited Common Elements (Residential, Tourist Accommodation, Deed Restricted Residential, Commercial). Funds may only be used for repair, restoration, replacement, maintenance of maj (Section 7.2 as amended, pages 1-4)

Voting & meetings

Rejection of Association actions: owners representing 67% or more of total votes, including majority of Residential and Commercial owners, and non-Declarant owners representing 67% of non-Declarant votes, with majority of non-Declarant Resi (Section 18.7 and Section 6.1 as amended,)

Amendments

Declarant reserves unilateral right to amend Declaration to correct clerical errors or comply with secondary mortgage markets, HUD, FHA, VA, Freddie Mac, Ginnie Mae, Fannie Mae. Other amendments per Section 22.3 of Declaration (not detailed (Section 22.4 as amended, page 8)

Amenities

The Ritz-Carlton Club Membership Program affiliation referenced; Exhibit F supplemented with First Amendment to Affiliation Agreement. (Exhibit F and First Amendment to The Rit)

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