Oak Harbor Preserve

Key facts from Oak Harbor Preserve's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Governing law

Michigan Condominium Act, Act 59 of 1978, as amended (Preamble, Master Deed)

Assessments & dues

Board establishes annual budget and levies assessments in proportion to Percentage of Value (Article V, Section 4, Condominium By-Law)

Special assessments

Allowed only with prior approval of more than 3/4 of all Members in value and number (Article V, Section 5, Condominium By-Law)

Collections & liens

Unpaid assessments constitute a lien prior to all except tax liens and first mortgage; Association may foreclose by judicial action or advertisement (power of sale) (Article V, Section 6, Condominium By-Law)

Reserves & fees

Reserve fund for major repairs/replacement equal to at least 10% of current annual budget on noncumulative basis (Article V, Section 11, Condominium By-La)

Architectural approval

Exterior appearance of all structures and yard areas subject to Association approval (Article IV.C(2), Master Deed)

Use restrictions

Residential site condominium (Article I, Master Deed)

Voting & meetings

Each Unit collectively entitled to one vote when voting by number (Article II, Section 2, Condominium By-La)

Amendments

Unilateral by Developer if no other Co-owner; material amendment requires 2/3 of Co-owners and 2/3 mortgagees; certain changes require Developer and affected party consent; Township consent needed for modifications to PUD ordinance referenc (Article VIII, Master Deed)

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