Traditions of Powell

Key facts from Traditions of Powell's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Document title and references to Chapter)

Units / lots

40 (as per allocation table in Sixth Amendment showing 1/40th undivided interest per unit) (Sixth Amendment Section 8, table listing)

Governing law

Ohio Revised Code Chapter 5311 (First Amendment (2006) recital; Second A)

Assessments & dues

Board adopts annual budget which includes provisions for operating expenses, reserves for repairs and replacements, and an amount for unexpected repairs unless owners waive reserve requirement by majority vote annually. (2024 Amendment Section (10) (new languag)

Special assessments

Board may impose special assessments for violations and damages, and for unpaid assessments (including enforcement assessments). (2012 Amendment Section (1) (new paragrap)

Collections & liens

Association has a lien on each Unit for unpaid assessments, interest, late fees, enforcement assessments, collection costs, attorney's fees, and paralegal fees. Lien effective from filing certificate; continues for five years unless release (2012 Amendment Section (2) and (4); 2024)

Reserves & fees

Board shall maintain a reserve for unexpected repairs and replacements of capital improvements and for repair/replacement of major improvements, unless owners waive by majority vote annually. (2024 Amendment Section (10) (new languag)

Voting & meetings

Each Unit has equal par value of 1 (one) for allocation of common elements and likely voting (implicit). (Allocation tables in First, Second, Sixt)

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