Paul's Sub

Key facts from Paul's Sub's documents

Community type

Condominium

Legal name

Croswell Townhomes Condominium Association, a Michigan non-profit corporation (Master Deed, Section 3.1(c); Bylaws, Sec)

Units / lots

4 Units (Master Deed, Section 1.3; Section 7.1)

Developer / declarant

Croswell Townhomes, LLC, a Michigan limited liability company, with offices at 721 Croswell Ave., East Grand Rapids, Michigan 49506 (Master Deed, preamble)

Governing law

Michigan Condominium Act, Act 59 of the Public Acts of 1978, as amended (Master Deed, Section 1.2; Section 3.1(a))

Assessments & dues

Board establishes annual budget projecting expenses, reserves and contingencies; annual assessment levied against each Unit; copies delivered to Owners; failure to deliver does not affect liability (Bylaws, Section 5.2(a))

Special assessments

Special assessments exceeding regular/additional authority require approval of 67% or more of all Owners, for additions over $5,000/year, purchasing a Unit upon foreclosure, or other appropriate purpose (Bylaws, Section 5.2(c))

Collections & liens

Association may purchase a Unit upon foreclosure of the lien described in Section 5.5; special assessments may fund such purchase (Bylaws, Section 5.2(c)(2); Section 5.5 r)

Reserves & fees

Association maintains reserve fund for major repairs/replacement of Common Elements as required by Section 105 of Act; minimum amount required on or before Transitional Control Date; maintained at level equal to or greater than 10% of curre (Bylaws, Section 4.5)

Fences

Fence along the boundary of the Property is a General Common Element (Master Deed, Section 4.1(e))

Maintenance

Roof patio is a Limited Common Element appurtenant to the Unit; roof of each garage is a General Common Element maintained by Association and assessed to units in that building equally (Master Deed, Section 4.2(c); Section 4.1)

Insurance

Board obtains insurance for the Common Elements; premiums are expenses of administration (Bylaws, Section 4.2(f))

Use restrictions

The Project is a residential condominium and a residential condominium project (Master Deed, Section 1.3; Bylaws, Sectio)

Voting & meetings

Each Owner has one vote per Unit when voting by number and one vote valued at total percentages owned when voting by value; voting by number unless Act requires otherwise; no cumulation (Bylaws, Section 2.2)

Amendments

Amendments recorded in Register of Deeds; pre-conveyance by Developer alone; post-conveyance non-material without consent; material by 2/3 Owners (and mortgagees if required); compliance-with-law and reserved-rights amendments by Developer; (Master Deed, Section 10.1, 10.2)

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