Georgetown

Key facts from Georgetown's documents

Community type

Commercial Condominium (Title page and Article 1)

Units / lots

2 (initially) (Section 4.1; Article 7 (votes for Unit #)

Governing law

Georgia Condominium Act, O.C.G.A. § 44-3-70 et seq. (Article 1; Section 2.1)

Assessments & dues

Not fixed; determined by Board based on annual budget; each Owner pays based on Percentage Interests. (Section 10.3)

Special assessments

Board may levy Special Assessment uniformly based on Percentage Interests. Cannot exceed maximum amount authorized by Act without unanimous Owner approval. (Section 10.4)

Collections & liens

All assessments and charges are a continuing lien on the Unit and a personal obligation of the Owner at time due. Association may foreclose. (Section 10.7)

Reserves & fees

Board may prepare a capital reserve budget and set required contribution included in Annual Assessment. Surplus funds may be added to capital reserve. (Section 10.3(e); Section 10.9(a))

Leasing & rentals

Not explicitly discussed in provided text; but Unit may be occupied by Owner's Permittees (Section 2.27) and Owner may lease? Not restricted in visible sections. (No explicit provision)

Architectural approval

Generally, no approval required for alterations unless they fall under the three exceptions. Subdivision requires consent. (Section 13.2(a))

Home business

Not explicitly mentioned. However, commercial condominium, so commercial use is expected. (General nature of document)

Insurance

Each Owner must obtain property insurance on all improvements not part of Areas of Insurance Responsibility (full replacement cost) and commercial general liability insurance ($2M minimum, or as required by Board). (Section 11.2(b)(i); Section 11.6(a))

Use restrictions

Units must be used only for lawful purposes permitted by Legal Requirements. (Section 14.1)

Voting & meetings

Owner of Unit #2: 1 vote; Owner of Unit #1: 2 votes. All votes equally weighted. Majority means more than 50% of total eligible number, counting each Unit owned separately. (Article 7; Section 2.20)

Amendments

Article 22 heading present but text not provided. (Table of Contents)

Amenities

Only Common Elements mentioned: shared trash area. No pool, clubhouse, etc. specified. (Article 5)

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