Olde Towne Commons Condominiums Owners

Key facts from Olde Towne Commons Condominiums Owners's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Document title: 'Olde Towne Commons Cond)

Legal name

The Olde Towne Commons Condominiums Owners Association, Inc.

Governing law

Ohio Revised Code Chapter 5311 (Doc 59421 Recital B: 'Ohio Revised Code )

Special assessments

Costs of eviction action, including attorneys' fees, may be the subject of a special Assessment against the offending unit owner and made a lien (Doc 59421 amendment (12): 'the costs of )

Collections & liens

Association has a lien upon each Unit’s ownership interest for unpaid assessments, interest, administrative late fees, enforcement assessments, and collection costs, attorney's fees, and paralegal fees. Lien may be filed with Recorder of Fr (Doc 59421 amendments (6), (7), (10); Art)

Reserves & fees

Board shall establish and maintain a reserve fund in such amount as Board deems appropriate to assure funds for repair and replacement of capital improvements in common elements, unless unit owners by majority vote waive annually. (Doc 59421 amendment (21): modifying Art )

Maintenance

Association responsible for roofing system including shingles, underlayment, ice and water shield, flashing, gutters, downspouts, roof trusses, joists, and other structural repairs. (Doc 59420, Art 10 A(3)(b))

Voting & meetings

Amendment requires written consent of Unit Owners representing at least 75% of the Association's current voting power (Doc 59420 Recitals: 'Unit Owners represe)

Amendments

Original procedure: Unit owners representing at least 75% of voting power must execute written consent. Board may amend without unit vote for limited purposes: meet institutional mortgagee requirements, insurance underwriter requirements, b (Doc 59421 amendment (18) inserting new p)

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