Stoller Farms No. 2 Owners Association

Key facts from Stoller Farms No. 2 Owners Association's documents

Reflects the 1999 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Stoller Farms No. 2 Owners Association

Units / lots

Platted lots in Stoller Farms No. 2 subdivision (number not specified) (Article 2: plat of Stoller Farms No. 2)

Developer / declarant

Pahlisch Duncan Homes, LLC

Governing law

Oregon Planned Community Act (ORS 94) (Recitals C)

Assessments & dues

Not fixed; set annually by Board of Directors based on operating budget. (Section 10.4)

Special assessments

May be levied for capital improvements; if exceeds 15% of budgeted gross expenses, requires majority vote plus Class B consent. Prior to turnover, requires 50% Class A plus Class B consent. (Section 10.5)

Collections & liens

Unpaid assessments constitute a continuing lien on the Lot; may be foreclosed; lien is subordinate to prior recorded mortgages. Sale or transfer of Lot does not affect lien but foreclosure of mortgage may extinguish recorded lien. (Sections 11.2, 11.4)

Reserves & fees

Required for items with replacement life between 3 and 30 years and for exterior painting; funded by monthly assessments included in Annual Assessment; annual reserve study required. Reserve Fund may be reduced or eliminated 2 years after t (Section 10.9)

Pets

Dogs, cats, or other household pets not kept for commercial purposes. (Section 6.4)

Leasing & rentals

Not explicitly prohibited; lessees and invitees must comply with Declaration and owner is responsible. (Sections 1.11 (Owner definition), 12.4)

Use restrictions

Lots shall only be used for residential purposes. (Section 6.2)

Voting & meetings

Two classes: Class A (each Lot one vote), Class B (Declarant three votes per Lot owned). (Section 8.3)

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