Friendship Condominium

Key facts from Friendship Condominium's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

The Friendship Condominium

Developer / declarant

George Reekie, of 17 Pell Street, Newport, Rhode Island 02840 (Master Deed, introductory paragraph; Art)

Governing law

Chapter 183A of the General Laws of Massachusetts, as amended (M.G.L. Chapter 183A or Condominium Law) (Master Deed, introductory paragraph)

Assessments & dues

Common expenses assessed and allocated among Unit Owners according to percentage interests as specified in Condominium Trust and Exhibit C (Article 8(c); Article 9)

Special assessments

Not prohibited; Article 14(f) suggests using regular installments rather than special assessments where practicable, but special assessments are possible. (Article 14(f))

Collections & liens

Unpaid common expenses, heating repair costs, pet indemnity amounts, and fines constitute a lien upon the Unit under M.G.L. Ch. 183A §6 (Article 10(a)(6); Article 10(b)(3); Arti)

Reserves & fees

Adequate reserve fund at least equal to two (2) months estimated common charges for each Unit (Article 14(f))

Pets

Yes - dogs, cats, birds or other pet animals subject to restrictions (Article 10(b)(3))

Leasing & rentals

Yes, subject to restrictions in Article 12 (Article 12)

Parking & vehicles

Prohibited without express written permission of Board of Trustees for a specified time period (Article 16)

Maintenance

Unit Owner maintains and repairs Unit (including interior surfaces, appliances, fixtures, utilities serving only that unit). Trustees maintain Common Areas and Facilities (including structural components, central services, conduits, common (Article 10(a)(1); Article 8(a); Article )

Insurance

Trustees maintain insurance and fidelity bond; Article 14 references insurance proceeds and bond but does not specify coverage amounts (Article 14(a)(iii); Article 14(c))

Use restrictions

Units intended as dwelling units; no professional office; occupancy limited to one family or up to two unrelated persons (plus temporary guests up to 30 days) (Article 10(b)(1))

Voting & meetings

Each Unit Owner has an interest in proportion to the percentage of undivided interest in Common Areas and Facilities (Exhibit C: 50% per Unit) (Article 2; Article 9; Exhibit C)

Amendments

Requires written instrument signed and acknowledged by Owners of Units holding at least 75% of undivided interests in Common Areas, recorded within 6 months of first signature. Special rules for: altering dimensions (requires owner of affec (Article 15(a), (b), (c))

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