Red Rock Creek Condominium Association

Key facts from Red Rock Creek Condominium Association's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Red Rock Creek Condominium Owners' Association) (Section 16, Section 3 of Declaration)

Developer / declarant

Red Rock Business Associates, LLC, an Oregon limited liability company (Opening paragraph of Declaration)

Governing law

Oregon Condominium Act (ORS 100.005 to 100.990) (Section 1.1.1)

Assessments & dues

Common Expenses allocated to Owners in proportion to their undivided interest in Common Elements (based on adjusted unit area); Board may also bill certain services per-Unit (Section 7.1, Section 5 (allocation refer)

Special assessments

Permitted; borrowing exceeding 15% of annual budget requires 75% owner approval; special assessments may be subject to mortgagee notice (60-day delinquency) (Bylaws Section 3.2.15; Section 15.1.2)

Collections & liens

Association has lien for unpaid assessments, subordinate to first mortgage; foreclosure available (Section 15.3, Section 22.4)

Reserves & fees

Assessments for replacement reserves commence upon first sale of a Unit; Declarant may defer payment for unsold Units until Turnover Meeting (Section 7.1.1)

Leasing & rentals

30 days (Units cannot be rented for periods of fewer than 30 days) (Section 15.2)

Parking & vehicles

Parking Spaces are General Common Elements; used on first-come-first-served basis; Board has sole authority and responsibility (Section 5.2)

Signs & flags

Restrictions on signs exist; Mortgagee exempt from restrictions on signs pertaining to sale or rental of Unit (Section 15.2)

Maintenance

Association (roof is General Common Element; annual inspection required) (Section 5.1.1, Section 21)

Voting & meetings

One vote per Unit; Declarant votes for unsold Units; special rules for joint owners, fiduciaries, mortgagees (Section 8; Bylaws Sections 2.7.1, 2.7.2,)

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