Riverside Commons Condominium Association

Key facts from Riverside Commons Condominium Association's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (2020 Declaration, Recital A; Original De)

Governing law

Oregon Condominium Act, ORS Chapter 100 (formerly Oregon Unit Ownership Law, ORS 91.500) (2020 Declaration, Recital A; 1973 Declar)

Collections & liens

Failure to pay assessments or comply with documents may result in action for sums due, damages, injunctive relief, foreclosure of lien, or any combination (1973 Declaration Section 10.3)

Reserves & fees

Two required reserves: (1) Reserve Fund for Replacements - amount set by directors paid monthly; (2) General Operating Reserve - minimum 5% of monthly assessments until fund equals 15% of annual assessments, then can reduce to 2.5%, restore (1973 Bylaws Article VI Section 1(a), (b))

Pets

Domestic animals allowed subject to Municipal Sanitary Regulations, leash laws, and Association rules (1973 Bylaws Article VI Section 6(b))

Parking & vehicles

Covered parking stalls (20 and 12 near studio units) are common elements; use restricted to owners and tenants; Board assigns stalls; vehicle speed limited to 5 mph on drives (1973 Declaration Section 4; 1973 Bylaws )

Use restrictions

All living units shall be utilized for residential living only, private or commercial; common elements for intended purposes; units not used by owner shall be available for renting as motel unit (1973 Bylaws Article VI Section 3(a); 197)

Voting & meetings

Percentage-based, weighted by undivided interest in common elements (1973 Bylaws Article II Section 2; 1973 D)

Amendments

Declaration may be amended by consent or approval of 75% or more of unit owners holding 75% of total percentage interest; Bylaws may be amended by Association in duly called meeting with approval of owners holding 75% or more of voting righ (1973 Declaration Section (11); 1973 Byla)

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