Crescent Meadows

Key facts from Crescent Meadows's documents

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

Community type

Condominium (administered by Crescent Meadows Condominium Association, a Michigan non-profit corporation) (Article I, Section 1.1; Article III, Sec)

Governing law

Michigan Condominium Act, Act 59 of Public Acts of 1978, as amended (Master Deed, first page; Article I, Sect)

Collections & liens

Unpaid assessments plus interest, costs, attorney fees constitute a lien on the Unit; may be foreclosed by judicial action or advertisement; redemption period 6 months (1 month if abandoned) (Bylaws Article II, Section 2.5)

Reserves & fees

Adequate reserve fund established; minimum equal to 10% of current annual budget on a noncumulative basis (Bylaws Article II, Section 2.2(a))

Use restrictions

Units are for single family residences and associated improvements; use must be consistent with project purposes (Article IV, Section 4.5; Article VII)

Voting & meetings

Each Co-owner entitled to membership; Percentage of Value per unit is equal; vote by value or by number and value (Article V, Section 5.2; Bylaws Article I)

Amendments

Amendments require Developer consent during Development Period; material changes require 2/3 vote of Co-owners and first mortgagees; certain changes require consent of each affected Co-owner and mortgagee; consolidation Master Deed allowed; (Article IX, Sections 9.1(a)-(m))

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