South Terrace Homes at Cooks Crossing

Key facts from South Terrace Homes at Cooks Crossing's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

South Terrace Homes at Cook's Crossing

Developer / declarant

Signature Land Development Corporation (Master Deed p.1, Preamble)

Governing law

Michigan Condominium Act, Act 59 of 1978, as amended (Master Deed p.1, 1.2)

Assessments & dues

Board develops annual budget and levies assessments apportioned according to Percentage of Value (Bylaws 4.2(b), 5.2, p.29, 30)

Special assessments

Allowed for extraordinary expenses, capital improvements, etc. (Bylaws 5.3, p.30 (implied))

Collections & liens

Association has lien on unit for unpaid assessments and may foreclose (Bylaws 5.6, p.31)

Reserves & fees

Required; minimum amount by Transitional Control Date; maintained at level ≥10% of then current… (text cut off) (Bylaws 4.5, p.30)

Leasing & rentals

Yes, with notice to Association and written lease; minimum term not specified but sublease prohibited if less than remainder of lease (Bylaws Art.9 (9.1, 9.2), p.32)

Fences

Fence locations approximate and may be modified by Developer during Development and Sales Period. Co-owner responsible for maintenance; shared fences shared expense equally unless damage by one co-owner. Association may repair and special a (Master Deed 5.4, p.14; 4.3(c), p.11)

Architectural approval

Prior written consent of Association required for any structural modifications to Unit or Limited Common Elements, and for any improvements to Unit exterior or Common Elements (Master Deed 4.3(d), p.12; Bylaws 4.4(a),)

Maintenance

Roofs are General Common Elements; responsibility of Co-owner under Master Deed 4.3(b) (unit/structure including all General Common Elements) (Master Deed 4.1(k) (Building Elements in)

Insurance

Association shall obtain property insurance on Common Elements and liability insurance (Bylaws 6.2, p.31)

Use restrictions

Units shall be used solely for residential purposes (Bylaws 7.1, p.31)

Voting & meetings

Each Co-owner one vote per unit by number; by percentage of value when required. Voting by number unless specified otherwise. (Bylaws 2.2, p.26)

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