The Condominiums at Stonewater Owners' Association

Key facts from The Condominiums at Stonewater Owners' Association's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1: "Declarant proposes to create a )

Legal name

Condominiums at Stonewater Owners' Association (Section 1.1.2)

Units / lots

Initially 12; maximum 102 after annexations (Section 4.2 (12 Units) and Section 11.1 )

Developer / declarant

Legend Homes Corporation, an Oregon corporation (Page 1)

Governing law

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

Assessments & dues

Common expenses allocated in proportion to each Owner's interest in Common Elements as set forth on Exhibit B (Section 7.1.2) (Section 7.1.2)

Special assessments

Permitted; referenced in Section 7.3 (delinquency) and Section 14.2 (special assessment for maintenance performed by Association) (Sections 7.3, 14.2)

Collections & liens

Association has lien on Unit for unpaid assessments; may foreclose; in foreclosure, court may appoint receiver to collect rent; Association may purchase Unit at sale (Section 7.4). Lien subordinate to first mortgage and tax liens (Section 7 (Sections 7.4, 7.5)

Reserves & fees

Required by Act; Declarant to conduct reserve study; fund for replacement of Common Elements that need replacement in more than 3 and fewer than 30 years, and for painting (Section 14.3) (Section 14.3)

Leasing & rentals

Not restricted in this Declaration; leasing restrictions may be in Bylaws Section 7.1 (referenced) (Section 13 (no restrictions on alienatio)

Maintenance

Unit boundaries include exterior surface of roof (Section 4.3); maintenance of Unit by Owner (Section 14.2) but roof is part of Unit boundary, so Owner? However, Common Elements maintenance by Association includes exterior of buildings? The (Section 4.3 (Unit includes roof) and Sec)

Use restrictions

Units intended for residential use in accordance with Bylaws (Section 9) (Section 9)

Voting & meetings

One vote per Unit (Section 8); Declarant has 5 votes per Unit owned during declarant control period (Section 21.2) (Sections 8, 21.2)

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