Deer Ridge Estates

Key facts from Deer Ridge Estates's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Section 1.1 (page 3) establishes 'Deer R)

Legal name

Deer Ridge Estates

Developer / declarant

Deer Ridge, LLC

Assessments & dues

Board establishes initial budget; assessments apportioned among co-owners; annual assessments payable in 12 equal monthly installments (Bylaws Section 5.2.a (page 18): 'Board s)

Special assessments

Special assessments in excess of subsections (a) and (b) require prior approval of 60 percent of co-owners; includes additions to common elements over $5,000, purchase of estate upon foreclosure, etc. (Bylaws Section 5.2.c (page 18-19): 'Spec)

Collections & liens

Unpaid assessments, plus interest, collection costs, attorney fees, and fines, constitute a lien on the estate prior to all other liens except tax liens and prior mortgages; Association may enforce collection (Bylaws Section 5.5 (page 19): 'Unpaid as)

Reserves & fees

Association shall maintain a reserve fund for major repairs; to be established on or before transitional control date; maintained at level at least 10% of then-current annual operating budget on noncumulative basis (Bylaws Section 4.5 (page 17): 'The fund )

Leasing & rentals

Leases allowed; notice of lease to Association required (Bylaws Section 7.1 (page 12): 'Notice of)

Architectural approval

Written consent of Association required for structural modifications to an estate (Bylaws Section 4.4.a (page 16): 'Any co-)

Maintenance

Owner responsible for all maintenance and repair of their estate; Association responsible for common elements; Association has emergency access to estates (Bylaws Section 4.4 (page 16): 'All maint)

Use restrictions

Residential use required (Bylaws Section 6.1 (page 12): 'Residenti)

Voting & meetings

Each co-owner entitled to one vote per estate owned; no cumulative voting (Bylaws Section 2.2, page 13: 'Each co-ow)

Amendments

Pre-conveyance: Developer may unilaterally amend for nonmaterial changes (e.g., modify unsold estates, correct errors, facilitate financing); material changes require two-thirds co-owner/mortgagee consent. Post-conveyance: Amendment not spe (Section 6.1 (pages 7-8): 'Nonmaterial ch)

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