Depot Square Condominium I Tru

Key facts from Depot Square Condominium I Tru's documents

Reflects the 1977 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article I: Name of Trust creates 'Depot )

Legal name

Depot Square Condominium I Trust

Units / lots

9 (Units I through IX) (Section 4.1: lists nine units with perce)

Developer / declarant

David C. Sweeney, Jr. and Avis M. Sweeney

Governing law

Chapter 183A of Massachusetts General Laws (Section 2.1: 'by virtue of provisions of)

Assessments & dues

Trustees estimate common expenses each fiscal year (including contingencies and reserves), determine assessment, and render statements; owners pay in proportion to beneficial interest; statements due within 30 days (Section 5.4B: 'The Trustees shall estima)

Special assessments

Trustees may make supplemental assessments during the fiscal year if actual expenses exceed or are likely to exceed the original assessment (Section 5.4B: 'the Trustees shall make a)

Reserves & fees

Trustees may set aside common funds as reserve or contingent funds for reduction of indebtedness, capital purposes, repair/rebuilding/restoration, or improvements; such funds are not distributable as common profits (Section 5.4A: 'The Trustees may, to such)

Insurance

Each unit owner shall maintain insurance on his unit(s) with waivers of subrogation and contribution similar to master policies (Section 5.8: 'Each Unit Owner shall main)

Voting & meetings

Unit owners vote in proportion to their percentage of beneficial interest (Section 4.1); if unit owned by more than one person, one designated owner exercises the vote (Section 4.2) (Section 4.1, Section 4.2)

Amendments

Trustees, with written consent of unit owners holding at least 75% of beneficial interest, may amend the Declaration of Trust; provided that no amendment changes beneficial interest percentages or violates Chapter 183A; effective upon recor (Section 7.1: 'The Trustees, with the con)

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