W Lofts Condominium

Key facts from W Lofts Condominium's documents

Community type

Condominium (commercial)

Legal name

W Lofts Condominium

Developer / declarant

JFJ Real Estate Limited Partnership

Governing law

Uniform Condominium Act of Missouri (RSMo §§448.1-101 et seq.) and Condominium Property Act (RSMo §§448.005 et seq.) (Art. I Sec. 1.01)

Assessments & dues

Common Expenses allocated according to Undivided Interest; Board determines expenses (Art. I Sec. 1.13, Art. IV Sec. 4.02)

Special assessments

Permitted for additions, alterations, or improvements to Common Elements; also for reconstruction costs not covered by insurance (Art. VI Sec. 6.03(a), Art. VIII Sec. 8.0)

Collections & liens

Nonpayment for special services gives rise to a lien as provided in Section 10.07 (Art. VII Sec. 7.18)

Pets

Yes, subject to rules; animals commonly kept as household pets weighing less than 100 pounds may be kept in Residential Units, not for commercial purposes (Art. VII Sec. 7.06)

Leasing & rentals

Yes, with written lease subject to Declaration, Bylaws, Rules; minimum term 1 year; copy to Board within 10 days of signing (Art. VII Sec. 7.16)

Parking & vehicles

Parking Lot with numbered Parking Spaces assigned to Units per EXHIBIT C; each Unit has parking space right (Art. I Sec. 1.22, 1.23, Art. III Sec. 3.)

Architectural approval

Board consent required for additions, alterations, improvements that alter structural portions, increase insurance cost, or are visible outside Unit; also any alteration to Common Elements requires Board consent (Art. VI Sec. 6.03(b), Art. VII Sec. 7.13)

Home business

Permitted as customarily incident to residential use: personal professional library, records, calls, clients, without advertising as business (Art. VII Sec. 7.15)

Maintenance

Association (as Common Element – roof is part of Building Exterior) (Art. IV Sec. 4.01 (Common Elements inclu)

Insurance

Hazard insurance on Condominium Property for full insurable replacement cost; commercial general liability $1,000,000 per occurrence; workers comp; employer's liability; fidelity bond; D&O liability (Art. VIII Sec. 8.01, 8.03)

Use restrictions

Each Residential Unit shall be used as a residence and for no other purposes (Art. VII Sec. 7.01)

Voting & meetings

Based on Undivided Interest as set forth on EXHIBIT D (Art. IV Sec. 4.02)

Amenities

Exercise room (Common Element) (Art. IV Sec. 4.01)

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