Golf Course Estates at Aspen Lakes

Key facts from Golf Course Estates at Aspen Lakes's documents

Reflects the 1991 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (ASPEN LAKES HOMEOWNERS ASSOCIATION or ASPEN LAKES ESTATE OWNERS, INC.) (Article I, Section 2 (1991); Article I, )

Developer / declarant

KMB Enterprises, an Oregon partnership (First paragraph and signature page)

Governing law

Oregon Revised Statutes (ORS 94.609, 94.616, Oregon Planned Community Act) (Article III, Section 3.3 (1993 declarati)

Special assessments

Allowed; Board may levy up to $100 per Lot per year without member approval. Any amount above $100 requires approval by a majority of Class A members. (1991 declaration, Article VII, Section 4)

Reserves & fees

Board annually prepares a capital budget for replaceable assets; required capital contribution included in assessments. Reserve account budget distributed to members. (1991 declaration, Article VII, Section 7)

Leasing & rentals

Yes, lease or rental for residential purposes is permitted, subject to Board rules and regulations. Lessee must comply with Declaration and Bylaws. (1991 declaration, Article II, Section 3)

Voting & meetings

Two classes: Class A (all Owners except Declarant/Builder) – one vote per Unit; Class B (Declarant and Builders) – three votes per Unit owned until termination of Class B control period. One vote per Unit total. (1993 declaration, Article III, Section 3)

Amendments

Declarant may amend unilaterally for compliance with law or lender requirements (without adversely affecting Owner title unless Owner consents). Otherwise, amendment requires affirmative vote or written consent of at least 75% of members. A (1991 declaration, Article X, Section 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.