Arbor Adwick Condominiums Owners Association

Key facts from Arbor Adwick Condominiums Owners Association's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Document title: "Declaration Submitting )

Developer / declarant

ARBOR QUATAMA LLC (Preparer signature) / Arbor Adwick LLC (Definition 1.4) (Signature page: "ARBOR QUATAMA LLC"; Art)

Governing law

Oregon Condominium Act (ORS Chapter 100) (Article 1.8: "ORS 100.005, a part of the)

Assessments & dues

Board adopts budget and assesses common expenses against unit owners according to square footage ratio (Bylaws Article 5.2, 5.3)

Special assessments

Board may not borrow or spend more than 15% of budget without owner vote; special assessments likely follow same rule (Bylaws Article 3.6(h) and (k))

Collections & liens

Association has lien for unpaid assessments and may foreclose (Bylaws Article 5.6, 5.7)

Reserves & fees

Replacement reserves shall be established (Bylaws Article 5.5)

Maintenance

Association maintains common elements; unit owner maintains unit and limited common element deck (Declaration Article 11.1)

Use restrictions

Each unit is to be used for residential purposes as described in the Bylaws (Declaration Article 10)

Voting & meetings

Each unit one vote; Declarant has three times the voting rights per unit owned until earlier of sale of 75% of units or 3 years after first conveyance (Declaration Article 8.2; Bylaws Article )

Amendments

Declaration: approved by 75% of voting rights (excluding Declarant weighted vote), Declarant consent for 10 years after last unit sale, and Mortgagee approval if required; Bylaws: similar requirements (Declaration Article 15.2; Bylaws Article)

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