Martineau Condominium

Key facts from Martineau Condominium's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Master Deed and Exhibit A throughout)

Governing law

Michigan Condominium Act, Act 59 of the Public Acts of 1978, as amended (Master Deed preliminary statement and Ar)

Assessments & dues

Board adopts annual budget, allocates common charges based on percentage of value. Special assessments require 60% Co-owner approval unless for budget deficit, replacement, additions up to $50,000, or emergency. (Exhibit A (Bylaws), Article V, Sections )

Special assessments

Requires approval of 60% or more of Co-owners in number and value unless within permitted categories. (Exhibit A (Bylaws), Article V, Section 5)

Collections & liens

Unpaid assessments plus fines and interest constitute a lien on the Unit, prior to all other liens except tax liens and first mortgage recorded before Association's notice of lien. Foreclosure by suit at law or by advertisement (subject to (Exhibit A (Bylaws), Article V, Section 5)

Reserves & fees

Required by Section 105 of Act; at least 10% of current annual budget on non-cumulative basis; Board may analyze and set aside more. (Exhibit A (Bylaws), Article IV, Section )

Maintenance

Roofs are General Common Elements, maintained by Association. (Master Deed, Article IV, Section 4.1(d))

Use restrictions

Mixed-use commercial and residential. Exterior alterations require Association consent. Units cannot be used inconsistently with Project purposes or impair other Co-owners' rights. (Master Deed, Article VIII, Section 8.1; )

Voting & meetings

One vote per Unit when voting by number; vote value equals percentage of value when voting by value. Voting is by value except where both number and value required. Developer votes only for Units it still owns. (Exhibit A (Bylaws), Article II, Sections)

Amendments

Developer may amend without Co-owner consent during Development Period for non-material changes. Material changes require 2/3 vote of Co-owners and mortgagees. Certain changes require each affected Co-owner and mortgagee consent. Developer (Master Deed, Article XI, Section 11.1(a))

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