River's Edge Condominium

Key facts from River's Edge Condominium's documents

Reflects the 1988 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 3.1)

Legal name

River's Edge Condominium of Waterbury Association, Inc., a Connecticut non-stock corporation (Sections 2.3 and 3.2)

Developer / declarant

Crest Associates, A General Partnership (Section 2.8)

Governing law

Connecticut Common Interest Ownership Act, Public Act 83-474 (Article I)

Assessments & dues

Common Expenses are assessed against all Units according to percentage shares shown on Schedule A-2. The Executive Board adopts a proposed budget, mails a summary to Unit Owners, and sets a ratification meeting 14 to 60 days later; the budg (Sections 18.2, 18.5, 18.6 and 18.8)

Special assessments

A special assessment exceeding 15% of the current annual operating budget must be submitted to Unit Owners for ratification using the budget-adoption procedure (Section 18.6)

Collections & liens

The Association has a statutory lien on a Unit for assessments and enforceable fees from the time due. The lien is prior to most other liens except: pre-Declaration recorded liens; first or second mortgages recorded before delinquency; and (Section 18.4)

Reserves & fees

Reserves held in trust or by the Association for repair, replacement or addition to the Common Elements or other Association property are Common Expenses (Section 18.1(d))

Leasing & rentals

Units may be leased, but not for a term of less than ninety days (Section 9.2)

Parking & vehicles

Declarant is allocated the parking spaces shown on the Survey. If they are not Limited Common Elements at termination of the Development Rights period, they will be assigned to particular Units by amendment to the Declaration (Article XI / Section 11.2)

Architectural approval

A Unit Owner may not change the exterior appearance of a Unit, the Common Elements, or any other portion of the Common Interest Community without permission of the Executive Board (Section 12.1(a)(ii))

Home business

A home profession is permitted in a Unit provided it does not require regular visits from the public and no commercial sign is displayed (Section 9.1(a))

Maintenance

Roof structures, ceiling bearing structures and other improvements outside the Unit boundaries are Common Elements, and the Association is responsible for their maintenance and repair (Sections 2.5 and 5.2(a))

Insurance

The Association must maintain property insurance on the Common Elements (including Units but not owner improvements/betterments) covering direct physical loss commonly insured, with coverage after deductibles of at least 100% current replac (Sections 21.2 and 21.3)

Use restrictions

Each Unit is restricted to residential use as a single-family residence; a home profession is permitted only if it does not require regular visits from the public and no sign indicates commercial use (Section 9.1(a))

Voting & meetings

Each Unit has an equal vote (Section 8.2(c))

Amendments

The Declaration may be amended by a vote of Unit Owners of Units to which at least 67% of the votes are allocated. Challenges to adopted amendments are limited to one year. Recordation and indexing are required. Unanimous consent of all Uni (Articles XIV and XV)

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