Iron Meadow Estates Homeowners Association

Key facts from Iron Meadow Estates Homeowners Association's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Class II planned community (Recitals)

Legal name

Iron Meadow Estates Homeowners Association

Units / lots

12 (Lots 1-12) (Recitals (Lots 1-12 IRON MEADOW ESTATES))

Developer / declarant

Hartwell Homes, LLC

Governing law

Oregon Planned Community Act (ORS 94.550 to 94.783) (Recitals)

Assessments & dues

Board prepares and approves budget annually; distributes to Members within 30 days after adoption (Section 10.4.1)

Special assessments

Authorized for: (1) operating deficit (majority Board); (2) breach obligations (majority Board); (3) repairs (majority Board); (4) capital improvements >$2,000 (75% vote of all Lots); (5) employment of agents etc. (subject to attorney's fee (Section 10.5)

Collections & liens

Association has lien on each Lot for delinquent assessments; lien superior except property taxes and first mortgages; must record notice of claim before foreclosure (Section 10.7.2)

Reserves & fees

Separate Reserve Account; funded for items requiring replacement within 3-30 years; annual reserve study required; borrowing allowed after Turnover Meeting with resolution; reduction of assessment after second year post-turnover requires 75 (Section 10.6.2 and subsections)

Pets

Yes, reasonable number of household pets not bred or raised for commercial purposes; must be controlled (Section 4.5)

Leasing & rentals

Yes, Owner may rent or lease Home or portion subject to conditions: written lease, minimum 30 days, tenant must receive Declaration, Bylaws, Rules (Section 4.3)

Home business

Owner may maintain personal business/professional library, records, phone calls, confer with associates in residence; also allows sale of residences, construction by Declarant, and use as sales office (Section 4.1 exceptions (a)-(c))

Signs & flags

Only one 'For Sale' or 'For Rent' sign, max 24x36 inches; political signs allowed but must be removed within 3 days after election; real estate signs removed within 3 days after sale closing; Declarant exempt from sign rules (Section 4.24) (Section 4.9)

Use restrictions

Lots shall only be used for residential purposes; no trade, craft, business, commercial activity except as permitted (Section 4.1)

Voting & meetings

Class A (one vote per Lot), Class B (Declarant: three votes per Lot until termination) (Section 7.3)

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