Magnolia Woods, a Condo

Key facts from Magnolia Woods, a Condo's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Declaration and Bylaws passim)

Legal name

Magnolia Woods Homeowners Association

Management

Superior Community Management (SCM)

Governing law

Oregon Condominium Act (ORS Chapter 100) (Preamble and 1.10)

Assessments & dues

Board prepares annual budget; common expenses allocated equally per unit (1/8 each) (Declaration 8.1, Bylaws 5.1, 5.2)

Special assessments

Capital improvement special assessment requires majority owner vote or board authority for projects under $20,000 (annual increase $1,000); other special assessments require majority owner vote (Bylaws 5.4, 3.6(k))

Collections & liens

Unpaid assessments become a lien on the unit; Association may foreclose; lien priority: inferior to tax liens and prior recorded first mortgages (Bylaws 5.7, 5.9)

Reserves & fees

Required; replacement reserve accounts funded as board determines; periodic reserve studies; funds used for replacement of common elements (Bylaws 5.5)

Pets

Dogs, cats, or other household pets may be kept subject to rules and regulations; no raising, breeding, or keeping of livestock, poultry, or other pets not so allowed (Bylaws 7.5(d))

Leasing & rentals

Yes, owner may lease or rent unit in accordance with Declaration, Bylaws, and rules (Bylaws 7.5(h))

Architectural approval

Yes, board approval required for structural additions, alterations, or improvements affecting common elements, and for exterior visible changes (including windows, decks, outside walls) (Bylaws 7.2, 7.5(f))

Maintenance

Roofs are part of general common elements; Association responsible for maintenance, repair, replacement (Declaration 5.3, Bylaws 7.1(b))

Insurance

Property damage insurance on all units and common elements at replacement cost; comprehensive general liability insurance; workers' compensation; fidelity bond for persons handling funds (Bylaws 8.1(a)(b)(c)(d))

Use restrictions

Each unit shall be used only for residential purposes (Declaration 10, Bylaws 7.5(a))

Voting & meetings

One vote per unit; Declarant votes for unsold units; Association votes for owned units but not in director elections (Declaration 8.2, Bylaws 2.6)

Amendments

Declaration: proposed by majority of board or 30% of owners; approved by 75% of voting rights and mortgagee approvals (Art. 13). Bylaws: approved by 75% of voting rights. Both require Declarant consent while owning 25%+ units (max 3 years f (Declaration 15.1, 15.2; Bylaws 9.1, 9.2)

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