Star Point Condominiums

Key facts from Star Point Condominiums's documents

Community type

Condominium

Legal name

Star Point Condominiums

Developer / declarant

Winfield Homes No. I, Inc., a Colorado corporation (Article I, Section 1.2 (page 6))

Governing law

Condominium Ownership Act of the State of Colorado (Recitals (page 5))

Assessments & dues

Based on advance budget of cash requirements multiplied by percentage ownership interest in Common Elements for each unit. (Article VII, Section 7.2(b) (pages 14-15)

Special assessments

May be levied with consent of two-thirds of votes of each class, for operating deficit, unbudgeted costs, construction, reconstruction, repair, etc. While Class B membership exists, also requires written approval of Veterans Administration (Article VII, Section 7.6 (page 16))

Collections & liens

Assessments are a perpetual lien on the Condominium Unit, attaching without notice at the beginning of the first day of the period. Association may foreclose or bring action at law. Lien subordinate to first mortgages and real property tax (Article VII, Sections 7.8, 7.9, 7.11 (pa)

Reserves & fees

Association shall establish and maintain an adequate reserve fund for maintenance, repair, and replacement of periodically needed Common Elements. (Article VI, Section 6.1(e) (page 12) and)

Pets

A reasonable number of dogs, cats or other household pets may be kept, not for commercial purposes and not as a nuisance. (Article XI, Section 11.4 (page 19))

Leasing & rentals

Yes, under conditions. (Article XI, Section 11.11 (page 21))

Parking & vehicles

Boat, trailer, camper, housetrailer, self-contained motorized recreational vehicle are included in definition of vehicles; not allowed if abandoned/inoperable. (Article XI, Section 11.9 (page 20))

Architectural approval

Prior written approval of Board of Directors required for exterior additions, alterations, decoration, structural changes, fences, hedges, walls, window AC units, exterior antennas. (Article XI, Section 11.6 (page 20))

Maintenance

Association responsible for Common Elements, exterior surfaces of buildings, landscaping, recreational facilities, reserve fund. Owners responsible for interiors, Limited Common Elements (balcony, patio, fireplace, storage), and for damage (Article VI, Sections 6.1, 6.2 (pages 12-)

Insurance

Multi-peril policy with extended coverage and all-risk endorsements (fire, vandalism, malicious mischief) on the Project and Common Elements at 100% replacement cost; flood insurance if in special flood hazard area; public liability $1,000, (Article VIII, Section 8.1 (pages 15-16))

Use restrictions

Condominium Units shall be used for residential purposes only. (Article XI, Section 11.1 (page 19))

Voting & meetings

Two classes: Class A (all Owners except Declarant) one vote per Condominium Unit; Class B (Declarant) three votes per Condominium Unit owned that is not leased, rented, or occupied as a residence. (Article V, Section 5.2 (pages 11-12))

Amendments

Amendment of Declaration and Condominium Map permitted. Declarant has right to amend map without Owner consent for certain changes until conveyance of last unit or January 1, 1990. Specific voting requirements not detailed in provided text. (Article III, Section 3.3 (page 10); Arti)

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