South Slope Condos Amend

Key facts from South Slope Condos Amend's documents

Reflects the 1981 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

South Slope Condominiums Association

Units / lots

Initially 105 fee simple estates; Declarant may build lesser number within 7 years and reallocate interest. (Article II Section 1)

Governing law

Condominium Ownership Act of Colorado (Preamble; Article I Definitions)

Assessments & dues

Initial maximum monthly assessment set forth on Exhibit A (not provided in text). (Article VII Section 3(a))

Special assessments

Board may levy special assessments for construction, reconstruction, unexpected structural repairs, or capital improvements. If exceeds $5,000, requires 2/3 vote of Owners with 25% quorum and 30 days written notice. In emergency, 2/3 vote o (Article VII Section 4)

Collections & liens

Association has lien against Owner's Unit for unpaid assessments, enforceable by recording notice in Arapahoe County. Lien subordinate to first deed of trust. Foreclosure in same manner as mortgage on real property. Association may take pos (Article VII Section 6(b))

Reserves & fees

Association may establish and maintain a cash reserve and sinking fund for acquisition, construction, maintenance, replacement and repair of common elements. (Article VII Section 2)

Pets

Dogs, cats, or other household pets may be kept, but not for commercial purpose. (Article V Section 8)

Leasing & rentals

Yes, Owner may lease entire Condominium Unit subject to Declaration and rules. Only entire unit may be leased, for single family residential use only. No transient or hotel purposes. (Article III Section 5)

Parking & vehicles

Not specifically addressed; Private Streets may be parked on if designated. (Article V Section 12)

Fences

Fencing or screening of patio or porch requires written approval from Association. (Article V Section 11)

Architectural approval

Committee must take action within 30 days of submission, otherwise deemed approved. (Article IX Section 5)

Signs & flags

Only "for sale" signs on inside surfaces of windows, otherwise prohibited. Association may have identification signs per applicable laws. (Article V Section 7)

Maintenance

Association responsible for maintenance, repair, and replacement of roofs. (Article VIII Section 3(b))

Insurance

Association responsible for fire and all-risk coverage on General Common Elements and all Units for full replacement value; also comprehensive public liability $1,000,000 per occurrence; fidelity bonds at least 150% of estimated annual oper (Article X Sections 1, 5)

Use restrictions

Units may be leased only for single family residential use. General Common Elements used for residential purposes, services, recreation, maintenance, administration, and Declarant's sales. (Article III Section 5; Article V Section)

Voting & meetings

Two classes: Class A (all Owners) - one vote per unit; Class B (Declarant) - three votes per unit owned. Class B membership ceases when Class A votes equal Class B or Dec 31, 1981, whichever earlier. (Article VI Section 3)

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