Genesee Foundation

Key facts from Genesee Foundation's documents

Reflects the 1975 governing documents — figures and rules are as originally recorded and may have changed since.

Developer / declarant

The First National Bank of Denver, a National Banking Association, for and on behalf of Genesee Land Company, a limited partnership (the 'Developer') (Preamble and Article I(j))

Special assessments

Special assessments may be levied for capital improvements, emergencies, or for costs of unforeseen events (e.g., unusual snowfalls or heavy rains). (Article V, Sections 1, 3)

Collections & liens

Unpaid assessments become a continuing lien on the property, subject to foreclosure, but subordinate to any valid mortgages or deeds of trust. Also a personal obligation of the Owner. (Article V, Sections 1, 7, 8)

Reserves & fees

Foundation may levy a special assessment (as part of annual or special) to be set aside as a reserve for future capital expenditures, major repairs, or replacements. These funds are designated as capital contributions and held in a separate (Article V, Section 4)

Fences

Fences are regulated (Section 2.5.5). (ARC Standards, Section 2.5.5)

Amendments

During first 25 years: written consent of 75% of each class of membership and written approval of Developer. After first 25 years: 66 2/3% of each class (Developer approval no longer required). Amendment must be recorded and written notice (Article VIII, Section 3(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.