Compass Park Townhomes Homeowners Association, Inc.

Key facts from Compass Park Townhomes Homeowners Association, Inc.'s documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Compass Park Townhomes Homeowners Association, Inc.

Units / lots

11 lots (Lots 432-442) (Exhibit A)

Developer / declarant

Double S Construction, LLC and Tennant Family Limited Partnership

Governing law

ORS 94.550-94.783 (Oregon Planned Community Act) (Preamble)

Assessments & dues

Board prepares annual budget; Regular Assessments allocated equally among Building Lots (Section 4.2.2, 4.2.3)

Special assessments

May be levied by Board to cover deficiencies; allocated equally; payable within 30 days of notice (Section 4.3)

Collections & liens

Association has lien for unpaid assessments, fines, charges; foreclosable under ORS Chapter 88 (Section 10.2.2)

Reserves & fees

Separate reserve account for replacement and repairs of long-term assets; annual reserve study required (Section 4.2.2(b))

Maintenance

Association responsible for roof and attic vents (all buildings) (Exhibit B)

Insurance

Deductible amount determined by Board in its reasonable business judgment (Section 8.7)

Use restrictions

Building Lots shall only be used for residential purposes (Section 9.3)

Voting & meetings

Class A: 1 vote per Building Lot; Class B (Declarant/Original Owners): 3 votes per Building Lot until conversion (Section 3.3)

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