Waldrop Park Condominium

Key facts from Waldrop Park Condominium's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1: "The name of the condominium )

Developer / declarant

Waldrop Partnership, LLC, a Georgia limited liability company (Opening paragraph: "made on the date set)

Governing law

Georgia Condominium Act, O.C.G.A. § 44-3-70, et seq. (1991 and Supp. 2000) (Section 1 and Section 2(a))

Assessments & dues

Board prepares budget and assessment at least 21 days before annual meeting; becomes effective unless disapproved by majority vote of Association. If disapproved, previous budget continues until new budget adopted. (Section 10(d))

Special assessments

Board may levy; if average total per unit exceeds $200 in a fiscal year, must be approved by majority vote of Association. (Section 10(e): "any special assessment .)

Collections & liens

Assessments are a continuing lien on the Unit and personal obligation of owner. Association may sue, suspend utilities after judgment >$750, and suspend use/vote (but not ingress/egress). (Section 10(a), (c)(iv), (c)(v))

Reserves & fees

Board shall annually prepare a capital reserve budget and set required contribution; included in annual budget. (Section 10(f))

Architectural approval

Prior written approval of ACC or Declarant (during control) required for any exterior change, alteration, construction, painting, landscaping, and for any object on exterior/common elements. (Section 13(a) and (b))

Home business

Ancillary business activities allowed if not apparent from outside, no excessive traffic, legal, consistent with residential character, etc. (Section 14(a)(i)-(vii))

Signs & flags

Flag requires approval (subject to same restriction as signs). (Section 13(a) and (b): "flag" listed as )

Maintenance

Owners responsible for interior alterations and damage they cause; Association responsible for Common Elements. Owners assume maintenance obligations for approved architectural changes unless otherwise agreed. (Sections 13(g), 14(f), 17 (referenced in)

Insurance

Deductible considered a maintenance expense; may be apportioned equitably among affected parties by Board. (Section 11(i): "any required deductible )

Use restrictions

Each Unit shall be used for residential purposes only, no trade or business except ancillary activities meeting conditions. (Section 14(a))

Voting & meetings

Each Unit entitled to one equally weighted vote; owners (record title holders) are members, mortgage holders excluded (Section 7: "shall be entitled to one (1))

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