Rastwood Condominium

Key facts from Rastwood Condominium's documents

Community type

Condominium (Section 2.1)

Legal name

Rastwood Condominium

Units / lots

98 (initial), expandable to 245 (Article IV, Section 4.1)

Developer / declarant

TRC Realty Corp., a Connecticut corporation (Recital paragraphs (page 5))

Governing law

Common Interest Ownership Act, Chapter 828 of the Connecticut General Statutes (Article I, Section 1.1)

Assessments & dues

Executive Board adopts proposed budget; ratified by Unit Owners unless majority reject at meeting held 14-30 days after mailing summary (Article XVII, Section 17.5)

Special assessments

Yes, non-budgeted assessments exceeding 15% of current annual operating budget require ratification by Unit Owners (Article XVII, Section 17.6)

Collections & liens

Statutory lien for unpaid assessments; prior to all liens except first security interest for up to six months of assessments; recording of Declaration constitutes notice; lien extinguished if not foreclosed within 2 years after full amount (Article XVII, Section 17.4(a)-(d))

Reserves & fees

Executive Board may adopt budgets including reserves (Article XXIII, Section 23.2(b))

Leasing & rentals

Yes, but not for a term less than 30 days (Article IX, Section 9.2)

Parking & vehicles

Parking areas as set forth on Survey or Plans are restricted to parking space for vehicles, excluding trucks, commercial vehicles, and campers (Article IX, Section 9.1(b))

Architectural approval

Yes, for changes affecting appearance of Common Elements or exterior appearance, and for structural changes (Article XI, Section 11.1(a)(i)-(ii))

Maintenance

Roof is Common Element; maintained by Association (Article IV, Section 4.3(a) (boundaries);)

Insurance

Property insurance on buildings at 100% replacement cost; liability insurance at least $1,000,000; fidelity bond; workers' comp; D&O liability insurance (Article XX, Sections 20.2-20.7)

Use restrictions

Each Unit is restricted to residential use as a single-family residence (Article IX, Section 9.1(a))

Voting & meetings

One equal vote per Unit (Article VIII, Section 8.2(c))

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