Ashbrook Condominiums Owners Association

Key facts from Ashbrook Condominiums Owners Association's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Ashbrook Condominiums Owners Association (Article 14.1)

Developer / declarant

Ashbrook Townhomes, LLC (Preamble)

Governing law

Oregon Condominium Act (ORS 100.005 et seq.) (Preamble and Article 1.8)

Special assessments

Capital improvements: require approval of unit owners holding 75% of voting rights if cost exceeds $20,000 (board may do smaller); other extraordinary assessments: require majority vote of owners if aggregate exceeds 15% of budget for that (Bylaws Sections 5.4(a), 5.4(b) and 3.6(k)

Collections & liens

Association has a lien on each unit for unpaid assessments; may foreclose as provided in Bylaws (Bylaws Section 5.7)

Reserves & fees

Replacement reserve account required; funded by regular assessments; reserve studies required (Bylaws Section 5.5)

Leasing & rentals

Leasing is permitted, subject to restrictions (Bylaws Section 7.8)

Maintenance

Association (roofs are common elements under Article 5.3) (Article 5.3 and Article 11.1)

Insurance

Association shall maintain property damage insurance covering common elements and units (all-risk), liability insurance, workers compensation, fidelity insurance, directors and officers liability insurance (Bylaws Section 8.1)

Use restrictions

Each unit shall be used for residential purposes only (Article 10 and Bylaws Section 7.5(a))

Voting & meetings

Each unit owner has one vote per unit; Declarant has five votes per unit owned until earlier of 75% units sold or 3 years after first conveyance (Article 8.2 and Bylaws Section 2.6)

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