Northside Terrace Owners Association, Inc.

Key facts from Northside Terrace Owners Association, Inc.'s documents

Reflects the 1998 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Sub-association within a master-planned mixed-use development (Section 1.1 (River Bend definition) and )

Developer / declarant

River Bend Limited Partnership, an Oregon limited partnership (First page of both documents)

Governing law

Oregon Condominium Act (mentioned for Condominium Projects); ORS 65.784 referenced for indemnification; Oregon nonprofit mutual benefit corporation law implied (Section 1.1 (Condominium Act definition))

Assessments & dues

Set by Board to meet budgeted Common Expenses; not fixed in declaration (Section 9.2.1)

Special assessments

Allowed to cover unbudgeted or excess expenses; allocated same as Base Assessment (Section 9.4)

Collections & liens

Each assessment is a lien on the Parcel/Condominium Unit, superior except taxes and first mortgage. Association may foreclose after 30-day notice. May bid at sale. (Section 9.7, 9.10)

Reserves & fees

Budget may include reserves for replaceable assets based on expected life and cost (Section 9.3)

Signs & flags

Signage may be addressed in Use Guidelines and Restrictions (Section 5.6)

Insurance

Association shall obtain property insurance on Limited Common Area and liability insurance (Section 12.1)

Use restrictions

Activities creating unreasonable annoyance, excessive noise, traffic, or unsightly conditions may be restricted (Section 5.7(iii))

Voting & meetings

Class A Members: each Regular Class A Member gets 1 vote per 1,000 sq ft of surface area of Parcel; Condominium Class A Members collectively get 1 vote per 1,000 sq ft of the Parcel on which Condominium Project is located, cast by Condomini (Section 7.3.1 and 7.3.2)

Amendments

By 67% Vote of Class A Members and written consent of Declarant (so long as Declarant owns property). Declarant may unilaterally amend before Turnover for certain purposes (correct errors, comply with laws) but not materially alter rights o (Section 15.2 and 14.4)

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