Sandridge Commons Owners Association, Inc.

Key facts from Sandridge Commons Owners Association, Inc.'s documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential townhomes and commercial condominiums (Article I, definitions of Lot (1.1.6) an)

Units / lots

9 commercial condominium units (one building with 6, one with 3) (Section 1.1.23 (definition of Unit: nine)

Developer / declarant

Thompson Bridge Ventures, LLC (Opening paragraph and execution)

Governing law

Georgia Nonprofit Corporation Code (Section 5.1, 5.2)

Assessments & dues

Association prepares budget; annual assessments become effective unless disapproved by majority of votes cast at annual meeting (Section 8.3)

Special assessments

Allowed with approval at a meeting duly called (Section 8.6); also special assessments for damage to Common Areas caused by an Owner (Section 8.11) (Section 8.6, Section 8.11)

Collections & liens

All sums assessed become a continuing lien on the Lot or Unit in favor of the Association (Section 8.8)

Reserves & fees

Association may establish and maintain reserve funds for maintenance, repair, replacement, and contingencies (Section 8.3.8)

Leasing & rentals

Generally prohibited except for undue hardship; limited to 10% of total occupied Units (First Amendment, Article XV, Sections 15)

Architectural approval

Yes, for all exterior improvements and alterations (Article VI, especially Section 6.2)

Home business

Prohibited on Lots (Section 6.10.1)

Maintenance

Owner maintains Lot improvements; Association maintains Common Areas (streets, drives, utilities, drainage, landscaping, entrance) (Sections 7.1, 7.2, 1.1.7 (definition of )

Insurance

Association may obtain comprehensive general liability, property damage, flood, and D&O insurance (Section 5.3.6)

Use restrictions

Yes, for Lots: "Lots may only be used for a single family residence. No business or commercial activity shall be permitted thereon." (Section 6.10.1)

Voting & meetings

One vote per Lot or Unit (Section 5.5.1)

Amendments

After Declarant control ends, Association may amend by 2/3 majority vote (Section 12.1); Declarant may amend unilaterally before control assignment (Section 12.2) (Section 12.1, 12.2)

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