Villas at Whistlestop

Key facts from Villas at Whistlestop's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Villas at Whistlestop Condominium Association (Article I and Article III Definitions)

Developer / declarant

Whistlecreek, LLC

Governing law

Michigan Condominium Act, Act 59 of Public Acts of 1978, as amended (Master Deed, first page (parenthetical))

Assessments & dues

Board of Directors establishes annual budget in advance for each fiscal year; assessments are set based on budget and apportioned according to Percentage of Value (equal per Unit) (Bylaws Article II B(1) (page 20))

Special assessments

May be levied by Board with approval of more than two-thirds (2/3) of all Co-owners for additions exceeding $10,000, purchase of foreclosed Unit, or other purposes; Board may also increase general assessment or levy additional assessment wi (Bylaws Article II B(1) and B(2) (pages 2)

Collections & liens

Unpaid assessments constitute a lien on the Unit, prior to other liens except tax liens and prior recorded first mortgages; Association may foreclose by judicial action or by advertisement; redemption period 6 months (or 1 month if abandone (Bylaws Article II E (pages 21-23))

Reserves & fees

At least 10% of current annual budget on a noncumulative basis; reserve for periodic replacement of Common Elements must be established and funded by regular monthly payments rather than special assessments (Bylaws Article II B(1) (page 20): 'At a )

Use restrictions

Condominium units designed and intended for separate ownership and use for residential purposes (Article I: 'condominium units designed a)

Amendments

Amendments require Developer consent during Development Period; thereafter Association may amend without consent for no material change, with 2/3 vote of Co-owners and mortgagees for material change; certain changes (percentage of value met (Article VII (pages 12-16))

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