Northlawn Gardens Condominiums

Key facts from Northlawn Gardens Condominiums's documents

Community type

condominium (Title and Whereas)

Legal name

Northlawn Gardens Condominiums

Developer / declarant

Paul Bishop, Lewis J. Bradley, Tom Kennedy, Richard A. Lehrer (Whereas)

Governing law

Condominium Ownership Act of the State of Colorado (Whereas)

Assessments & dues

Based on cash requirements determined by Association, proportion to owner's interest in common elements (§19(a))

Special assessments

Allowed by Association for construction, reconstruction, unexpected repair, etc. Payable over period determined by Association. Interest 12% per annum if not paid within 30 days. (§19(f))

Collections & liens

Unpaid assessments constitute a lien superior to all except taxes and first mortgages. Foreclosure like mortgage. (§21)

Reserves & fees

Association obligated to establish reserve fund for periodic maintenance, repair, replacement of general common elements. Funded through monthly common expenses. (§19(e))

Pets

Dogs, cats or other household pets may be kept subject to rules. (§30(C))

Leasing & rentals

Unit owner may lease entire unit, not less than entire unit. Not for transient or hotel purposes. (§34(F))

Parking & vehicles

Limited common elements include parking spaces assigned to each unit. (§2)

Maintenance

Owner maintains interior finishes, fixtures, doors, windows, utilities inside unit; Association maintains general common elements. (§16)

Insurance

Fire with extended coverage, all risk, vandalism, malicious mischief, boiler explosion, flood insurance if applicable, public liability ($500k per injury, $1M umbrella), workers comp, fidelity bond at 150% of annual operating expenses and r (§20)

Use restrictions

Property restricted to residential dwellings for residential use and related uses. (§30(A))

Amendments

Declaration amendment requires 75% of owners (based on common element interest) and 75% of first mortgagees (one vote per mortgage). (§18(a))

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