Prescott Place Condominium Owners

Key facts from Prescott Place Condominium Owners's documents

Community type

Condominium

Legal name

Prescott Place Condominium

Governing law

Ohio Condominium Act (Chapter 5311 of the Revised Code of Ohio) (Recital A: 'pursuant to the provisions o)

Assessments & dues

Board estimates amounts required for: (d) working capital reserve fund (at least 4 months assessments), (e) reserve for unexpected repairs (at Board's discretion), (f) operational costs, and (g) periodic 15-year projections to adjust assess (Second Amendment Section 2, restated sub)

Reserves & fees

Working capital reserve fund: at least an amount equal to four months’ currently estimated Assessments on all Units. Board may establish or augment a reserve for unexpected repairs and replacements of capital improvements without vote of Un (Second Amendment, Section 2.a, 2.b, 2.c:)

Voting & meetings

Amendments require consent of unit owners holding not less than 75% of voting power (Recital B: 'consent of unit owners holdi)

Amendments

Amendments require consent of unit owners holding not less than 75% of voting power, executed by two officers of the Association, and filed with the Auditor and Recorder of Franklin County. (Recital B of Third Amendment: 'pursuant )

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