Southridge Condominium Association

Key facts from Southridge Condominium Association's documents

Community type

Condominium

Legal name

Southridge Condominium

Governing law

Michigan Condominium Act (referenced as 'the Act') and Michigan Nonprofit Corporation Act (Article I: 'organized under the applicab)

Collections & liens

Association has statutory lien for assessments; may foreclose by judicial action or advertisement; may also discontinue utilities, deny use of Common Elements, deny vote; receiver may be appointed (Article II, Section 5(a): 'the Associati)

Reserves & fees

Adequate reserve fund required; minimum of 10% of current annual budget on a noncumulative basis; funded by regular payments (Article II, Section 2(a): 'An adequate r)

Pets

One domesticated cat or one domesticated dog per Unit, unless specifically approved in writing by Association (Article VI, Section 5: 'No animal, other)

Leasing & rentals

A Co-owner may lease his Unit for same residential purposes, subject to procedures; initial term at least 6 months unless specifically approved in writing by Association; no leasing of less than entire Unit except lender in possession (Article VI, Section 2(a): 'A Co-owner ma)

Insurance

Each Co-owner responsible for obtaining insurance for personal property, additional fixtures/equipment/trim, personal liability, and alternative living expense; Association has no responsibility for those coverages (Article IV, Section 1(a): 'It shall be e)

Use restrictions

Units may be used only for single-family residential purposes; Common Elements used only for purposes consistent with single-family residential use (Article VI, Section 1: 'No Unit in the C)

Voting & meetings

Each Co-owner entitled to one vote per Unit owned (Article VIII, Section 1: 'each Co-owner )

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