Maplewood Square Condominium

Key facts from Maplewood Square Condominium's documents

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

Community type

residential condominium (Section 1.3: 'The project is a residenti)

Legal name

Maplewood Square Condominium

Units / lots

30 units (Bylaws Section 1.1: 'being developed to )

Developer / declarant

Maplewood Square Developers, LLC, a Michigan Limited Liability Company, and Michael Nosko a.k.a. Michael A. Nosko (Master Deed signature page: 'Maplewood S)

Governing law

Michigan Condominium Act, Act 59 of the Public Acts of 1978, as amended (Section 3.1(a): 'Act or Condominium Act )

Assessments & dues

Board establishes annual budget projecting all expenses; annual assessments levied against each unit based on the budget; copies delivered to owners but non-delivery does not affect liability (Bylaws Section 5.2(a))

Special assessments

Special assessments exceeding regular/initial assessments require prior approval of 60 percent or more of all co-owners; authorized for additions over $150,000/year, purchase of unit on foreclosure, or other appropriate purposes (Bylaws Section 5.2(c))

Collections & liens

Unpaid assessments plus interest, late charges, advances, attorney fees, and fines constitute a lien on the unit prior to all liens except tax liens and sums unpaid on prior-recorded mortgage; Association may foreclose per Section 108 of th (Bylaws Section 5.5(a))

Reserves & fees

Association must maintain reserve fund for major repairs/replacement; minimum required by Section 105 of Act on or before transitional control date; to extent possible maintain level equal to or greater than 10% of then-current annual budge (Bylaws Section 4.5)

Leasing & rentals

Leasing is addressed in Section 9 (Leases) of Bylaws (Bylaws Table of Contents Section 9)

Parking & vehicles

Private roadways and parking spaces are general common elements (Master Deed Section 4.1(b))

Architectural approval

Prior written consent of Association required for improvements to unit exterior or common elements; structural modifications to unit or limited common element require written Association consent (Master Deed Section 4.4(b); Bylaws Secti)

Maintenance

Roofs are general common elements maintained by Association (Master Deed Section 4.1(k))

Insurance

Association must obtain and maintain casualty insurance with extended coverage, vandalism and malicious mischief; liability insurance including directors' and officers' coverage if advisable; workers' compensation insurance (Bylaws Section 6.2)

Use restrictions

Project is a residential condominium; use must be consistent with purposes of project (Master Deed Section 1.3; Section 4.6)

Voting & meetings

One vote per unit by number; one vote equal to the total percentage of value assigned to units owned when voting by value; voting by number unless Master Deed or Bylaws require number and value; no cumulative voting (Bylaws Section 2.2)

Amendments

Pre-conveyance: developer may unilaterally amend. Post-conveyance: nonmaterial changes without co-owner/mortgagee consent; material changes require consent of at least two-thirds of co-owners and mortgagees; compliance amendments without co (Master Deed Section 7)

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