Radcliff Condominium

Key facts from Radcliff Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial site condominium (Section 1.3: 'The Project is a commercia)

Legal name

Radcliff Condominium

Governing law

Michigan Condominium Act, MCL 559.101 et seq. (Master Deed, first paragraph: 'Pursuant )

Assessments & dues

Board establishes initial budget each fiscal year; annual assessment based on budget; apportioned by Percentage of Value (50% each). Annual assessments payable in 4 equal quarterly installments. (Bylaws Section 5.2a: 'The Board of Direc)

Special assessments

Yes; requires approval of 100% of all Owners for additions >$5,000, purchase of Unit on foreclosure, or other appropriate purpose. (Bylaws Section 5.2c: 'The Board of Direc)

Collections & liens

Unpaid assessments, interest, late charges, fines, etc. constitute a lien on the Unit, prior to all other liens except tax liens and prior mortgages. Association may enforce by suit for money judgment or foreclosure under MCL 559.208. (Bylaws Section 5.5a: 'Unpaid assessments)

Reserves & fees

Association shall maintain reserve fund for major repairs and replacement of Common Elements as provided by MCL 559.205. Minimum amount required before Transitional Control Date. Maintain at >=10% of current annual budget on noncumulative b (Bylaws Section 4.5: 'The Association sha)

Signs & flags

Not specifically addressed; exterior changes may be made without prior approval, which could include signs. (Bylaws Section 7.3a: 'An Owner may make )

Maintenance

Shared equally between Unit Owners for common roof where it overlaps between Units 1 and 2 at the point of common wall. (Section 4.3c: 'the Unit Owners shall sha)

Insurance

Association shall obtain casualty insurance on General Common Elements (extended coverage, vandalism, malicious mischief); liability insurance; worker's compensation. Not responsible for insurance on Units or Limited Common Elements. (Bylaws Section 6.2: 'The General Common )

Use restrictions

False; commercial use permitted. Units shall be used exclusively for business purposes permitted under zoning. (Bylaws Section 7.1: 'Units shall be used)

Voting & meetings

One vote per Unit; Percentage of Value 50% each (Bylaws Section 2.2: 'Each Owner will be )

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