Terra Cotta

Key facts from Terra Cotta's documents

Community type

Condominium

Developer / declarant

Westchester Investment Company

Governing law

Nebraska Condominium Property Act (Neb. Rev. Stat. Sections 76-801 to 76-823, Reissue 1981) (Master Deed Section 2(g))

Assessments & dues

Not fixed; set annually by Board in budget (By-Laws Article V Section 1(b))

Special assessments

Allowed if reserves inadequate; Board may levy further assessment payable in lump sum or installments (By-Laws Article V Section 1(d))

Collections & liens

Assessments constitute a lien against the Unit; Board shall take prompt action if unpaid more than 30 days (By-Laws Article V Sections 2 and 3)

Reserves & fees

Board shall maintain reserves for working capital, operations, contingencies, replacements; initial reserve of $1,000 from Developer (By-Laws Article V Section 1(d))

Pets

Only with permission of Board of Administrators; no large animals permitted (By-Laws Article V Section 9(o))

Leasing & rentals

Allowed for entire Unit; no portion may be rented; no transient tenants (By-Laws Article V Section 9(j): 'No port)

Architectural approval

Yes, for structural additions, alterations, improvements to Unit (By-Laws Article V Section 7)

Home business

Not allowed except Developer's sales office in unsold Units (By-Laws Article V Section 9(a): 'The rig)

Maintenance

Board (part of General Common Elements) (Master Deed Section 7A(b): 'All foundati)

Insurance

Fire insurance with extended coverage, vandalism, malicious mischief, windstorm; insuring entire Property including Units and bathroom/kitchen fixtures but not furnishings; also public liability and workmen's compensation (By-Laws Article VI Section 2(a) and (b))

Use restrictions

Yes; each Unit shall be used as a residence for a single family and for no other purpose (By-Laws Article V Section 9(a))

Voting & meetings

Voting on percentage basis, each Unit's vote equals its Percentage Interest as assigned in Master Deed (By-Laws Article II Section 9)

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