Davis Mccann

Key facts from Davis Mccann's documents

Reflects the 1983 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Units / lots

80 (projected: 10 phases, 8 units each) (Exhibit "C", pages 50-51: listing Buildi)

Developer / declarant

Steve Childers Companies, Inc., an Oklahoma corporation (Declaration, page 2, Article I, Section )

Governing law

Oklahoma Unit Ownership Estate Act, 60 O.S. 1979, Section 503(g) (1981) (Declaration, page 1, Article I)

Assessments & dues

Board of Directors fixes annual assessment each year based on estimated expenses (Declaration, Article XXIII, Section 3 (p)

Special assessments

May be levied by Board with assent of Unit Owners holding a majority of votes (Declaration, Article XXIII, Section 4 (p)

Collections & liens

Unpaid assessments become a lien on the unit, prior to other liens except taxes, first mortgages, etc. Foreclosure by action as a mortgage. (Declaration, Article XXIV (page 22): "li)

Reserves & fees

Reasonable contingency funds and reserves included in assessments (Declaration, Article XXIII, Section 5 (p)

Pets

Yes, but limited (no livestock, and must be restrained so as not to be offensive) (Declaration, Article XI, Section 12 (pag)

Leasing & rentals

Yes (Declaration, Article XI, Section 1 (page)

Parking & vehicles

Prohibited on Common Elements (Declaration, Article XI, Section 8 (page)

Architectural approval

Yes, for structural changes and exterior alterations (including awnings) (Declaration, Article XVII, Section 2 (pa)

Maintenance

Owner responsible for interior and exterior of Unit (including electrical, plumbing, appliances, interior surfaces, heating equipment). Association responsible for Common Elements (including structural elements, roofs, exterior walls). (Declaration, Article XVII (pages 16-17) )

Insurance

Blanket insurance policy covering at least 100% of insurable value, including fire, extended coverage, vandalism, malicious mischief, flood (if applicable), and public liability of at least $1,000,000 (Declaration, Article XXVII, Section 1 (p)

Use restrictions

Units shall be used as a residence (Declaration, Article II, Section 17 (pag)

Voting & meetings

Each unit has one vote per proportionate interest in Common Elements; proxy allowed (Declaration, Article X, Section 1 (page )

Amendments

Unanimous consent of all Unit Owners required to amend the Declaration (subject to certain exceptions). Also Declarant may make special amendments to comply with mortgage agencies. (Declaration, Article IX (page 10): "This)

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