Parkview Residences

Key facts from Parkview Residences's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Units / lots

Up to 45 initially; maximum of 55 may be created under development rights (Article I, Section 1.3: 'up to forty-fiv)

Governing law

Colorado Common Interest Ownership Act, Section 38-33.3-101 et seq. (Article I, Section 1.1)

Assessments & dues

Board prepares budget and mails summary to Owners; does not require approval unless vetoed by 67% of all Owners at a noticed meeting (Article VII, Section VII.3)

Special assessments

Board may levy Special Assessments for unbudgeted costs, without Owner vote (except as required by Act) (Article VII, Section VII.8)

Collections & liens

Assessments constitute a lien on the Unit from date due; Association may foreclose as a real estate mortgage; also may seek personal judgment; Owner waives homestead exemption (Article VII, Section VII.10)

Reserves & fees

Association may establish reserves for repairs, replacement, maintenance, taxes, capital improvements, and other purposes; and create contingency or reserve fund for periodic maintenance and replacement (Article VII, Sections VII.2(e) and VII.4)

Signs & flags

Declarant reserves right to post signs in Common Elements and in its own Units for sales promotion; no other sign rules stated (Article IV, Section IV.7)

Use restrictions

All units are designated for Residential use (Article I, Section 1.3: 'all of which ar)

Voting & meetings

Votes allocated to each Unit according to Allocated Interests (Exhibit B). Where Unit owned by multiple owners, one voting member designated. Owner may designate representative. Board votes on most matters except amendments and super-majori (Article VI, Sections VI.1, VI.5)

Amendments

Not fully detailed; certain provisions require 67% Owner vote (e.g., amendment to Section VI.2); amendments that would materially adversely affect CoPACE lenders require their prior written approval (Article VI, Section VI.2(b); Article VI,)

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