Steele Park Homeowners Association, Inc.

Key facts from Steele Park Homeowners Association, Inc.'s documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

de minimis planned community (Section 11.10)

Legal name

Steele Park Homeowners Association, Inc.

Developer / declarant

WINDSOR PROPERTIES, LTD. and STE RINCE HOMES, INC.

Governing law

Oregon Planned Community Act (ORS Chapter 94) referenced, though not necessarily applicable (Section 7.4(b))

Assessments & dues

Board of Directors prepares annual operating budget; assessment per Lot is total budget divided by total number of Lots (or assessment units, including multiunit units at Board's discretion) (Sections 9.1, 9.2)

Special assessments

Yes, capital improvement assessment; if aggregate exceeds $10,000 per related acquisition, must be approved by Class B member (if any) and not less than 75% of Class A votes in person, absentee, or proxy at a meeting called for that purpose (Section 9.3)

Collections & liens

Assessments are a continuing lien on the Lot; may be foreclosed under ORS Chapter 88; Association may bid at foreclosure sale (Sections 9.8, 10.3(b))

Reserves & fees

Budget shall provide for such reserve or contingency funds as Board deems necessary or as required by Declaration or law (Section 9.1)

Voting & meetings

One vote per Lot. Two classes: Class A (all Owners except Declarant) – one vote per Lot owned; Class B (Declarant) – five votes per Lot owned. Class B converts to Class A at turnover or earlier Declarant election. (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.