Arbor Ridge Comdominiums Phaseii

Key facts from Arbor Ridge Comdominiums Phaseii's documents

Community type

Condominium

Legal name

Arbor Ridge Condominiums Phase II

Developer / declarant

TRNL Development Company, Inc.

Governing law

Chapter 499B, Code of Iowa (Preamble, Article I, Article XIV)

Assessments & dues

Monthly assessments set by Board or Council, pro rata based on each unit's square footage relative to total square footage of all units (Bylaws Article X Section 1)

Special assessments

May be levied for capital improvements with assent of three-fourths of votes at a meeting with 30 days' notice (Bylaws Article X Section 5)

Reserves & fees

There shall be established an adequate reserve fund for periodic maintenance and for common expenses (Declaration Article XII Section 4)

Pets

Family pets only; no poultry or other animals (Bylaws Article VIII Section 1(f))

Leasing & rentals

Occasional or casual rental of entire apartment permitted; long-term rental only with prior written consent of Board of Directors (Bylaws Article VIII Section 1(b))

Use restrictions

Apartment units defined as rooms to be used as a residence (Declaration Article I definition (d))

Voting & meetings

One vote per apartment; Developer gets additional votes for unsold apartments until 3/4 of apartments sold (Declaration Article XI)

Amendments

Amendment by vote of not less than two-thirds majority of all common interests at annual or special meeting, recorded; Developer may amend unilaterally for certain purposes for 10 years or until 90% of units sold (Declaration Articles XIX and XX)

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