Madison Place Condo

Key facts from Madison Place Condo's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Madison Place), single-family subdivision with ACC (Madison Park), planned community with HOA (Madison Estates) (DOC 156145 Section 3; DOC 155654 preambl)

Units / lots

12 initially, maximum 60 (Madison Place); single-family lots (Madison Park no count); 10 lots (Madison Estates) (DOC 156145 Sections 4.2, 11.1; DOC 15580)

Developer / declarant

Wilshire Homes LLC

Governing law

Oregon Condominium Act (ORS 100.005 to 100.990) for Madison Place; ORS 94.709 for Madison Estates liens (DOC 156145 Section 1.1.1; DOC 155800 pag)

Assessments & dues

General assessment for Madison Estates not to exceed $195 per year unless 2/3 owners approve increase (DOC 155800 page 7(a)(i))

Special assessments

Special Assessments for private street and storm drainage maintenance; Individual Assessments for damage or enforcement costs (Madison Estates) (DOC 155800 page 6-7)

Collections & liens

Unpaid assessments become lien under ORS 94.709 (Madison Estates); Association may foreclose lien on unit (Madison Place); acceleration of assessments if >60 days delinquent (Madison Place) (DOC 155800 page 8(c); DOC 156145 Section)

Reserves & fees

Reserve fund for replacement of Common Elements (including roadway) requiring replacement in 3-30 years, and for painting exterior surfaces (Madison Place). Declarant may defer payment until conveyance. (DOC 156145 Section 14.3)

Pets

Dogs, cats, and other household pets allowed, subject to local controls and not for commercial breeding (Madison Park). Max two dogs and two cats as household pets, no commercial breeding (Madison Estates). No limitations in Madison Place d (DOC 155654 Section 2.7; DOC 155800 page )

Leasing & rentals

Not explicitly addressed in Madison Place declaration; Bylaws referenced (Section 7.1 of Bylaws imposes leasing restrictions). No restrictions in Madison Park or Madison Estates documents. (DOC 156145 Section 13 (refers to Bylaws))

Home business

Home offices allowed if no exterior signs (Madison Park) (DOC 155654 Section 2.1(b))

Signs & flags

One sign for sale or rent (Madison Park, max 5 sq ft for Madison Estates); political lawn signs allowed by law (Madison Estates); no other signs (Madison Park). (DOC 155654 Section 2.12; DOC 155800 page)

Use restrictions

All lots in subdivision for residential use only; no business except builders, temporary sales offices, and home offices without exterior signs (Madison Park). Residential use for Madison Place (Section 9). Madison Estates residential only. (DOC 155654 Section 2.1; DOC 156145 Secti)

Voting & meetings

One vote per unit (Madison Place); Owners of lots (Madison Estates - counted per lot) (DOC 156145 Section 8; DOC 155800 page 2 )

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