Las Vistas Condo

Key facts from Las Vistas Condo's documents

Reflects the 1982 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Condominium Declaration title)

Legal name

Las Vistas Condominiums

Developer / declarant

Archie H. Lowe and Kathryn E. Lowe (Opening paragraph)

Governing law

Colorado Revised Statutes (1993 reference, likely meant 1963) (Article I Section 1.1)

Assessments & dues

Based on annual budget established by Board of Directors (Article 18.2)

Special assessments

Additions/alterations to common elements requiring assessment over $50 per unit per calendar year require majority approval. Also for insurance insufficiency, special assessment pro rata. (Article 15.2 and Article 24.3)

Collections & liens

Association has lien for unpaid assessments, subordinate to first mortgage. May foreclose. Lien superior to all except taxes and first mortgage. (Article XXI)

Reserves & fees

Required for replacement of general common elements, funded by regular monthly payments. (Article 18.2)

Maintenance

Owner maintains unit interior (non-supporting walls, fixtures, utilities within unit from entry point). Association maintains general common elements and exterior of structures. Owner maintains limited common elements (interior/enclosed por (Articles XIII, XIV, XV)

Insurance

Fire with extended coverage/ all risk, public liability ($500k per person per occurrence, $1M umbrella), worker's comp, fidelity bond (150% of annual operating expenses), other as deemed appropriate. (Article 19.1)

Voting & meetings

One vote per unit for owners; Declarant gets three votes per unit until 25% ownership or 3 years from filing (Article 30.2)

Amendments

Revocation requires all owners and all mortgagees. Amendment requires 75% of owners and 100% of first mortgagees. Undivided interest in common elements cannot be altered without all owners and mortgagees. (Article 17.1)

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