Italian Village Say and East 4th Ave Condominium

Key facts from Italian Village Say and East 4th Ave Condominium's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (submitted to condominium ownership under)

Legal name

THE ITALIAN VILLAGE Say and East 4th Ave CONDOMINIUM ASSOCIATION

Developer / declarant

The New Victorians Inc (Declarant means New Victorians Inc)

Governing law

Chapter 5311 of the Revised Code of Ohio (pursuant to the provisions of Chapter 53)

Assessments & dues

Board estimates common expenses (including operating costs, insurance, utilities, reserves, administrative costs) and prorates among Units based on each Unit's undivided interest in Common Elements (Article XV, Section 3(a)(1)-(2))

Special assessments

Special assessments for capital improvements require consent of 100% voting power and 100% eligible first mortgage holders; special individual unit assessments may be levied for costs chargeable to a specific Unit (Article XV, Section 3(b) and (c))

Collections & liens

Association has a lien on the Unit for unpaid common expenses, interest, late fees, enforcement assessments, collection costs, attorney fees, and paralegal fees; lien effective upon filing certificate of lien with Recorder; may be foreclose (Article XV, Section 5(d)-(e))

Reserves & fees

Board shall maintain a general operating reserve and a reserve for unexpected repairs and replacements; amount set aside annually for reserves shall not be less than 10% of budget unless waived annually by 100% voting power (Article XV, Section 3(a)(1)(d) and (e))

Pets

Household domestic pets are permitted (Article III, Section 2(l))

Leasing & rentals

Leasing is permitted but subject to restrictions; no transient or hotel use; no rental for less than 30 days; no lease of less than entire Unit; lease must be in writing and subject to governing documents (Article III, Section 2(g))

Home business

Professional and quasi-professional Occupants may use a Unit as auxiliary or secondary facility; personal business records, calls, correspondence are customarily incidental (Article III, Section 2(a)(i) and (ii))

Voting & meetings

One vote per Unit owned in fee simple; proportionate vote for undivided interests (Article VII, Section 3)

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