Prairie Green Condominiums

Key facts from Prairie Green Condominiums's documents

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

Community type

Condominium

Legal name

Prairie Green Condominiums

Developer / declarant

Village North Associates, a Colorado Limited Partnership (Recitals, Page 1)

Governing law

Condominium Ownership Act of the State of Colorado (Recitals, Page 1)

Assessments & dues

Based on estimated cash requirements of the Association (Section 19(c), Page 11)

Special assessments

Allowed; levied by Association; payable over period determined; notice required, 30 days before due; interest 12% per annum if unpaid after 30 days (Section 19(f), Page 12)

Collections & liens

Yes, lien for unpaid assessments superior except for taxes and first mortgage; foreclosure like mortgage; power to bid and acquire unit (Section 21, Page 15)

Reserves & fees

Required for periodic maintenance, repair, replacement of general common elements; funded through monthly common expense payments (Section 19(e), Page 12)

Leasing & rentals

Allowed but not for transient or hotel purposes; must lease entire unit; lease must comply with declaration and bylaws (Section 28(F), Page 27)

Parking & vehicles

Non-designated parking is general common element; parking spaces assigned by Association as limited common elements appurtenant to units (Section 2, Page 3)

Maintenance

Owner: interior non-supporting walls, finishes, fixtures, doors, windows, utilities within unit, limited common elements like balconies, patios; Association: general common elements including structural components, common services (Section 16, Page 9-10)

Insurance

Fire with extended coverage and all risk, vandalism, malicious mischief, boiler explosion ($50,000 min); flood if applicable; public liability ($500,000 per person/occurrence, $1,000,000 umbrella); workers comp; fidelity (150% of annual ope (Section 20(A), Page 13-14)

Use restrictions

Each Unit shall be occupied and used only as and for a single family residential dwelling (Section 10, Page 6)

Amendments

Amendment requires 75% of owners (by general common element interest) and 75% of first mortgagees; revocation requires 100% of owners and all first mortgagees; permanent change to undivided interest requires 100% of owners and all first mor (Section 18, Page 10-11)

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