Lowell Terrace Condominiums

Key facts from Lowell Terrace Condominiums's documents

Reflects the 1979 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Article 1.1)

Legal name

Lowell Terrace Condominium Association, Inc.

Units / lots

152 (Article 1.2)

Developer / declarant

The Land Group of Lowell Terrace, Ltd., a Colorado Limited Partnership, through its General Partner, Comsec, Ltd. (Preamble)

Governing law

Colorado Condominium Ownership Act (Article 1.1)

Assessments & dues

Annual estimation by Association; pro rata per Exhibit 2 percentage (Section 6.2)

Collections & liens

Unpaid assessments constitute a lien on the unit; Association may foreclose like mechanic's lien (Section 6.3)

Reserves & fees

Common expenses may include creation of a reasonable contingency or other reserve or surplus funds (Section 6.1)

Parking & vehicles

Parking area is a common element; may be assigned by Association for use of specific Owners (Section 2.2)

Maintenance

Owner maintains interior surfaces of walls, ceilings, floors, fixtures, and appliances within Unit; Association maintains all other parts of Building and related improvements (Section 7.1)

Insurance

Fire and other hazards covered by standard extended coverage endorsement, including vandalism and malicious mischief (Section 8.1)

Use restrictions

Each Unit shall be used and occupied solely as a Living Area by the Owner and his guests, employees, invitees, tenants (Section 4.5)

Amendments

Vote of at least 75% of Owners; approved in writing by all first mortgagees; placed of record (Section 11.4)

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