View Crest Condominium Association

Key facts from View Crest Condominium Association's documents

Community type

Condominium (Declaration, Page 1; Bylaws Art. 1.1)

Legal name

View Crest Condominium Association

Developer / declarant

Michael G. Allen and Nick Kalinowski (Declaration, page 1 (signatures) and pag)

Governing law

Oregon Unit Ownership Law (ORS 91.505 to 91.675) and later Oregon Condominium Act (ORS 100.005 et seq.) (Declaration, Recitals; 2003 Bylaws Art. )

Assessments & dues

Board of Directors sets monthly assessments; majority vote required for some amounts (reserve fund determined by majority vote of homeowners) (1998 Bylaws Art. VI Sec. 1(b); 2003 Byla)

Special assessments

Not explicitly defined; but Association can levy assessments for common expenses including reconstruction deficiencies (Bylaws Art. VIII Sec. 2) (1998 Bylaws Art. VIII Sec. 2)

Collections & liens

Default may lead to foreclosure of unit, appointment of receiver to collect rent, and award of attorney fees and costs (1998 Bylaws Art. VI Sec. 6 and Art. XIII)

Reserves & fees

Required; monthly payments to reserve fund for replacements; general operating fund maintained; funds to be kept in separate FDIC-insured accounts or US government obligations; investment income distributed to owners (1998 Bylaws Art. VI Sec. 1(a) and 1(b); )

Leasing & rentals

Not explicitly prohibited; owners who lease retain voting rights; tenants subject to rules (1998 Bylaws Art. II Sec. 6; Art. I Sec. )

Architectural approval

Written notice to Association required before structural modifications; Association has 30 days to object; if no response, deemed approved (1998 Bylaws Art. VI Sec. 3(b); incorpora)

Maintenance

Not explicitly assigned, but building structure likely common element under the Declaration (perimeter walls, roofs not owned by unit owners individually) (Declaration Sec. 3.2 (definition of unit)

Insurance

Not required, but owner must inform Board of improvements over $5,000; owner policies not to be brought into contribution (1998 Bylaws Art. VII Sec. 4 and 5)

Voting & meetings

One vote per unit (1998 Bylaws Art. II Sec. 2; 2003 Bylaws )

Amendments

Declaration amendment requires consent of 75% of unit owners holding 75% of total percentage interest. Bylaws amendment requires approval of owners holding 60% or more of voting rights (1998 Bylaws Art. IX); 2003 Bylaws not explicit but lik (Declaration Sec. 10; 1998 Bylaws Art. IX)

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