Stormy Creek Condominium

Key facts from Stormy Creek Condominium's documents

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

Community type

Condominium

Legal name

Stormy Creek Condominium

Governing law

Michigan Condominium Act, Act 59, Public Acts 1978, as amended (Section 1.2 and Section 3.1(a))

Assessments & dues

Board establishes initial budget in advance for each fiscal year, projects expenses, determines annual assessment based on budget (Bylaws Section 6.2(a))

Special assessments

Requires prior approval of 60% or more, in number and value, of all Co-owners for assessments exceeding $3,000 annually for additions or other purposes (Bylaws Section 6.2(c))

Collections & liens

Unpaid assessments plus interest, late charges, advances, attorney fees, fines constitute a lien on unit prior to all liens except tax liens and prior recorded mortgages; enforceable by foreclosure under Section 108 of Act (Bylaws Section 6.5(a))

Reserves & fees

Initial budget includes reasonable allowance for contingencies and reserves; reserves established before initial meeting subject to member approval (Bylaws Sections 6.2(a) and 6.4)

Architectural approval

Prior written consent of association required for improvements to unit exterior or common elements appurtenant that increase maintenance costs (Master Deed Section 4.3(b))

Maintenance

Roofs are General Common Elements, thus Association responsibility (Master Deed Section 4.1(k) (list include)

Use restrictions

Project is a residential condominium (Master Deed Section 1.3)

Voting & meetings

One vote per unit when voting by number; one vote by value equal to total percentage assigned when voting by value; no cumulation (Bylaws Section 2.2)

Amendments

Pre-conveyance: Developer may unilaterally amend. Post-conveyance: nonmaterial amendments without consent; material amendments require 2/3 of Co-owners or mortgagees; Developer may amend unilaterally to comply with law; reserved Developer r (Master Deed Section 9)

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