Druid Springs Condominium

Key facts from Druid Springs Condominium's documents

Community type

Condominium (Paragraph 1)

Developer / declarant

RMS Properties, Inc., a Georgia corporation (Paragraph 2(n) and introductory paragrap)

Governing law

Georgia Condominium Act, O.C.G.A. §44-3-70 et seq. (Paragraph 1 and 2(a))

Assessments & dues

Board prepares budget and proposed assessment; delivered to members at least 21 days before annual meeting; becomes effective unless disapproved by majority vote (quorum required) (Paragraph 10(d))

Special assessments

Board may levy special assessments; if average total special assessments per Unit in one fiscal year exceeds $200, must be approved by majority of total association vote (Paragraph 10(e))

Collections & liens

Assessments are a continuing lien on the Unit; personal obligation of Owner; Association may foreclose via suit (Paragraph 10(b) and (c)(iv))

Reserves & fees

Board may annually prepare capital reserve budget and set contribution; not required during Declarant control (Paragraph 10(f))

Leasing & rentals

Section 16 (Leasing) noted in Table of Contents but not included in excerpt (Table of Contents)

Parking & vehicles

Outside parking area is Common Element; no specific parking rules in excerpt but Limited Common Element parking spaces may be sold by Declarant (Paragraph 5 (common elements) and Paragr)

Architectural approval

Yes, for any exterior change, alteration, construction (including painting, landscaping, signs, etc.) (Paragraph 13(a) and (b))

Home business

Permitted if not detectable from outside, no excessive traffic, legal, etc. (ancillary business activities only) (Paragraph 14(a)(i)-(vii))

Signs & flags

Any sign requires prior approval of Declarant (during control) or ACC (after control); mezuzah allowed (3x9 inches) (Paragraph 13(a) and (b))

Maintenance

Association (roof is Common Element) (Paragraph 5 (includes roof in common ele)

Insurance

Not to exceed $1,000.00 per occurrence (for Act-required coverage) (Paragraph 11(a)(vi) and 11(i))

Use restrictions

Each Unit shall be used for residential purposes only (Paragraph 14(a))

Voting & meetings

Each Unit Owner gets one equally weighted vote per Unit (Paragraph 7)

Amendments

General amendment clause (Section 23) not provided; but change to common element percentages requires consent of all Owners and Mortgagees (or lesser number per Act); expansion amendment by Declarant alone (Paragraph 5 (last sentence) and referenc)

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