Shirley Anne Condominiums

Key facts from Shirley Anne Condominiums's documents

Reflects the 1980 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Shirley Anne Condominiums

Developer / declarant

George A. Wells (WHEREAS paragraph)

Governing law

Condominium Ownership Act of the State of Colorado, Article 33 of Title 38 of Colorado Revised Statutes 1973, as amended (WHEREAS paragraph)

Assessments & dues

Pro rata according to each owner's percentage ownership as set forth in Exhibit B; determined by Board of Directors based on cash requirements (Paragraph 20)

Special assessments

Allowed for reconstruction deficiency if insurance insufficient; also for obsolescence plan with 80% vote (Paragraph 26(b) and (d))

Collections & liens

All unpaid assessments constitute a lien on the unit, superior except for tax liens and first mortgage; may be foreclosed like a mortgage; includes costs and attorneys fees (Paragraph 23)

Reserves & fees

Board may create a reasonable contingency or other reserve or surplus funds (Paragraph 20: creation of a reasonable c)

Maintenance

Association (general common element) (Paragraph 1(g): roofs are general common)

Insurance

Fire insurance with extended coverage and vandalism/malicious mischief; public liability insurance (Paragraph 21)

Use restrictions

Each unit shall be used and occupied principally for residential purposes (Paragraph 11)

Amendments

60% of owners (by common element interest) and unanimous consent of all recorded mortgage/deed of trust holders; change in percentage interest requires unanimous owner consent (Paragraph 19)

Amenities

Volleyball court and concrete basketball court; no separate charge (Paragraph 27(b))

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