Canyon Park Condominium 1

Key facts from Canyon Park Condominium 1's documents

Community type

Condominium (two-unit dwelling) (Declaration, WHEREAS and Article III)

Legal name

Canyon Park Condominium Number One, Incorporated (Preamble, Article I(b))

Units / lots

2 (Units 7026 and 7028) (Article III, Section 3)

Developer / declarant

Nels Stanley Bentson and Donna Kratz

Governing law

Unit Ownership Estate Act of the State of Oklahoma (Declaration, WHEREAS and Section I (defi)

Assessments & dues

Determined annually by the Board of Directors based on estimated aggregate expenses (Article IV, Sections 1-2)

Special assessments

Allowed for construction, reconstruction, unexpected repair or replacement, but requires assent of all owners of affected units (from common elements) (Article IV, Section 3)

Collections & liens

Assessments constitute a lien on each unit prior to all other liens except taxes, judgments, and certain other encumbrances; lien is subordinate to first mortgages (Article IV, Sections 6 and 7)

Reserves & fees

Assessments include monthly contributions to a general reserve fund for replacements (By-Laws, Article VII (assessment provisi)

Pets

Common household pets allowed; no more than one without written permission of the Association; no livestock, poultry, horses, etc. (Article V, Section 2 (paragraph M))

Leasing & rentals

Owner may rent his unit, but term limits and possibly approval required (text partially obscured) (Article V, Section 2 (paragraph after re)

Parking & vehicles

Large commercial vehicles prohibited from parking on common elements (Article V, Section 2 (paragraph G))

Insurance

Blanket fire and casualty insurance with extended coverage, vandalism and malicious mischief; public liability insurance; workmen's compensation insurance (Article V, Section 5)

Use restrictions

Units shall be used only as private family residence purposes (Article V, Section 2)

Voting & meetings

Voting on a percentage basis based on undivided interest in the common elements (50% per unit) (By-Laws, Article II)

Amendments

Declaration can be changed only by unanimous consent of all unit owners and all lien holders, evidenced by an amended Declaration duly recorded (Article V, Section 1)

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