Prospect at Mt. Crested Butte

Key facts from Prospect at Mt. Crested Butte's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned community (Article III, Section 3.1: 'the Property )

Legal name

Prospect Property Owners Association (Section 2.6)

Units / lots

maximum 351 (Section 3.3: 'The maximum number of lots)

Developer / declarant

CBMR Real Estate, LLC, a Colorado limited liability company (Preamble: 'made this 3 day of July, 2002)

Governing law

Colorado Common Interest Ownership Act, C.R.S. § 38-33.3-101 through 38-33.3-319 (Section 2.1: 'Act means the Colorado Com)

Age restriction

Not present.

Assessments & dues

Board adopts budget; Owners ratify; if rejected, prior budget continues. (Section 7.1(c) and (d))

Special assessments

Allowed for unbudgeted or excess expenses; requires ratification unless otherwise provided. (Section 7.5)

Collections & liens

Automatic statutory lien for delinquent assessments; superior except for taxes, bonds, and first mortgages; enforceable by foreclosure. (Section 7.10)

Reserves & fees

Referenced as part of budget; association sets reserves. (Section 7.1(c): 'a proposed budget for t)

Pets

Yes, but subject to regulations; Association may provide animal control and kennel facilities. (Sections 4.5 (Animal Control Function) a)

Leasing & rentals

Not explicitly mentioned; but 'Guest' includes tenants, implying leasing allowed. (Section 2.25: 'Guest means ... any perso)

Parking & vehicles

Restricted per Section 9.14. (Section 9.14)

Architectural approval

Yes, Design Review Board approval required for construction and modifications. (Article XI, especially Section 11.4)

Signs & flags

Restricted: Section 9.12 'Restriction on Signs'. (Section 9.12)

Maintenance

Owners maintain Lots; Association maintains Common Elements and may perform emergency repairs on Lots. (Sections 4.1, 4.7, 4.7(b))

Insurance

Association shall obtain insurance required by Act and additional as Board deems necessary. (Section 4.10)

Use restrictions

Implied; developed as residential resort community; no explicit single-use restriction but restrictions imply residential. (Section 1.1(a): 'develop the Property as)

Voting & meetings

one vote per Lot; no vote for Association-owned lots or exempt property; Affordable Lots have same vote as Free Market Lots. (Section 3.4(a): 'each Lot is allocated o)

Amendments

Referenced in Section 15.2; details not in excerpt. (Section 15.2)

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