The Summit Condo Prop Reg

Key facts from The Summit Condo Prop Reg's documents

Reflects the 1973 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Preamble: 'hereby established as a condo)

Legal name

The Summit Condominium Property Regime

Units / lots

30 initially, with right to add up to 26 additional units (original) or up to 30 additional units (first amendment, maximum 60 total) (Para 32 (original and amendment))

Developer / declarant

The Villas Corporation

Governing law

Nebraska Condominium Property Act, Sections 76-801 through 76-823, R.R.S. Nebraska, 1943, as amended (Preamble; also references to Sections 76)

Assessments & dues

Not fixed; estimated each year by Board as 'estimated cash requirement' (Para 9)

Special assessments

If estimated sum proves inadequate, Board may levy a further assessment; same proportion as regular assessment unless otherwise provided (Para 9)

Collections & liens

Amount of assessment plus interest, costs, and attorneys' fees becomes a lien upon recordation of notice of assessment; lien has priority over all other liens except tax liens and mortgages recorded prior to notice; may be enforced by sale; (Para 10, 11)

Reserves & fees

Provision for contingencies and replacements in annual estimate; no separate reserve fund explicitly named (Para 9)

Pets

Dogs, cats, or other household pets may be kept in Units subject to Board rules (Para 16E)

Leasing & rentals

Yes, but subject to restrictions: right of first refusal for leases over one year; cannot lease to persons with children who will occupy 180+ days per year (Para 21A, 21B)

Home business

Not permitted except declarant's realty office in unsold units (Para 16A amendment)

Voting & meetings

Each Co-owner entitled to cast the number of votes as set forth in Exhibit B for each Unit owned; each Unit has one vote (Exhibit B shows 'one' vote per Unit) (Para 2; Exhibit B)

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