Lincoln School Condominiums Owners' Association

Key facts from Lincoln School 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

Lincoln School Condominiums Owners’ Association (Section 16)

Units / lots

153 (59 Primary, 73 Parking, 21 Storage) (Preamble; Section 4.2)

Governing law

Oregon Condominium Act, ORS 100.005 to 100.990 (Preamble; Section 1.1.1)

Assessments & dues

Allocated according to percentage of each Owner's undivided interest in Common Elements pertaining to their Primary Units, without regard to Parking or Storage Units, as set forth in Exhibit C (Section 7.1)

Collections & liens

Association has a lien on Owner's Units for unpaid assessments and may foreclose; in suit, Owner may be required to pay rental and receiver may be appointed; Board may purchase Unit at foreclosure (Sections 7.3-7.4)

Reserves & fees

Assessments for reserves pursuant to Section 5.2 of Bylaws commence upon closing of first sale of a Unit (Section 7.1)

Use restrictions

Primary Units are intended for residential use (Section 9)

Voting & meetings

One vote per Primary Unit; no votes for Parking or Storage Units (Section 8)

Amendments

Amendments approved by Owners holding at least 75% of voting power and Declarant's consent until 10 years after Turnover Meeting; unanimous consent required for Sections 13.3 and 15; material amendments also require approval of Mortgagees h (Sections 23.1-23.2)

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