Upper Terrace

Key facts from Upper Terrace's documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Master planned mixed-use community (commercial, industrial, residential) (Section 4.1: 'Declarant intends to creat)

Legal name

River Bend Master Owners Association, Inc. (Section 1.1 definition of 'Association')

Developer / declarant

River Bend Limited Partnership, an Oregon limited partnership (First paragraph of Master Declaration)

Special assessments

Allowed for unbudgeted or excess expenses; allocated like Base Assessment; Declarant and affiliates are subject to Special Assessments (Section 11.4)

Reserves & fees

Budget must include reserves for replaceable assets considering expected life and repair/replacement cost (Section 11.3)

Leasing & rentals

Subject to restrictions per Section 4.6 (short-term leasing activities with respect to residential properties may be restricted) (Section 4.6)

Home business

Conduct of business on Parcels limited to residential use may be restricted (Section 4.6)

Amendments

Amendments may be made by Declarant (prior to Turnover for certain purposes) or by Owners with 67% Vote of Class A Members and Declarant consent (if Declarant owns property); also subject to Mortgagee approval in some cases (Section 18.2)

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