6395 Gunpark Drive Condominium Association, Inc

Key facts from 6395 Gunpark Drive Condominium Association, Inc's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Recitals B; Section 3.1)

Developer / declarant

One Gunbarrel Ltd., a Colorado limited partnership (Opening paragraph)

Governing law

Colorado Common Interest Ownership Act, C.R.S. §38-33.3-101 et seq. (Recitals B)

Assessments & dues

Determined by budget; not fixed (Section 10.3)

Special assessments

Association may levy special assessments for construction, repair, replacement, or other expense (Section 10.5)

Collections & liens

Assessments constitute a lien on the Unit. May be foreclosed as a mortgage. Lien superior to all except taxes and first mortgage (with six-month priority for six months of assessments). (Section 10.7)

Reserves & fees

Separate reserve accounts required; annual accounting by CPA (Section 10.11)

Leasing & rentals

Yes, in part or full. Lease must be in writing, subject to Association Documents, and lessee provided rules. Only for permitted uses. Association may enforce as third-party beneficiary. (Section 3.6.3)

Parking & vehicles

Parking spaces are General Common Elements unless designated Limited; Executive Board may modify/reassign (Section 14.5)

Architectural approval

Executive Board or Architectural Review Committee must approve any alteration, construction, or removal on Common Elements, and exterior changes for unit combination. Approval also required for storage on Common Elements. (Section 3.6.4; Section 3.7.3)

Maintenance

Association (roof is General Common Element) (Section 2.9.1c)

Insurance

Association must obtain hazard insurance for full replacement cost of buildings including Units and Common Elements (excluding betterments by Owners), and comprehensive liability insurance of at least $2,000,000 per occurrence. (Section 9.1.1; Section 9.1.2)

Voting & meetings

Each Unit has one vote. Only Owners in Good Standing may vote. Good Standing: no more than 30 days late on assessments and membership privileges not suspended. (Section 2.1.2; Section 2.19)

Amendments

Not detailed in Declaration; references to amendment of Map and Declaration for unit combinations; general amendment not specified (Section 3.7, Section 14.2(f))

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