Parkview on Peachtree Master Condominium

Key facts from Parkview on Peachtree Master Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Master Condominium (mixed-use, intended for future subdivision into sub-condominiums) (Paragraph 1: name; Paragraph 2(jj): defi)

Units / lots

3 Master Units (Section 4(a): 'initially divided into th)

Developer / declarant

Park View on Peachtree, LLC (Georgia LLC) and Parkview Peachtree Apartments, LLC (Delaware LLC) collectively Declarants (Opening paragraph: "by PARK VIEW ON PEAC)

Governing law

Georgia Condominium Act, O.C.G.A. §44-3-70, et seq. (Paragraph 1: "submitted by Declarants to)

Assessments & dues

Set by Board in annual budget (Section 10(c))

Special assessments

Board may levy special assessments for capital additions, improvements, repairs (Section 10(f))

Collections & liens

Assessments are a continuing lien on the Master Unit. After 60 days delinquency, Board may foreclose. The lien has priority as provided in Act and subject to Paragraph 16 (Mortgagee rights). (Paragraph 10(b): "All such assessments .)

Reserves & fees

Board may annually prepare capital reserve budget and contributions (Section 10(e))

Insurance

Not more than $50,000 unless all Board members agree (Section 11(b) last sentence)

Voting & meetings

Each Master Unit appoints one director; director casts votes per Exhibit B (Section 7)

Amendments

Percentage Interests may be altered only by consent of all Owners and Mortgagees (or lesser number as prescribed by Act) expressed in a duly recorded amendment. Other amendments not specified but presumably require same consent or as per Ac (Paragraph 5: "Such undivided Percentage )

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