Rim at Aspen Lakes

Key facts from Rim at Aspen Lakes's documents

Reflects the 1990 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Unit Development (WHEREAS: 'planned unit development')

Developer / declarant

KMB Enterprises, an Oregon partnership (First WHEREAS and final execution)

Governing law

Oregon Revised Statutes (ORS 94.616 referenced in Article X, Section 8) (Article X, Section 8)

Assessments & dues

Board prepares budget, delivers to members at least 30 days before end of fiscal year; budget and assessment become effective unless disapproved by majority of Owners at a meeting. (Article VII, Section 3)

Special assessments

Board may levy up to $100 per lot per fiscal year without member approval; above that requires majority approval. (Article VII, Section 4)

Collections & liens

Yes; assessments are a lien on the Lot, superior to all except ad valorem taxes and first mortgage. Association may foreclose after 60 days of delinquency. (Article VII, Sections 5 and 6)

Reserves & fees

Board must annually prepare a capital budget and set capital contribution; reserve account budget distributed to members. (Article VII, Section 7)

Architectural approval

true; no construction, grading, planting, or removal of plants/trees/shrubs without ARC approval. (Article VIII, introductory paragraph)

Home business

Prohibited by the residential use restriction. (Article II, Section 3)

Use restrictions

true; each Lot shall be used for residential purposes only; no trade or business of any kind. (Article II, Section 3)

Voting & meetings

One vote per Lot; each Owner is a member; Class A membership only (Article III, Sections 1 and 2)

Amendments

Declarant may amend to comply with laws or lender requirements without owner consent (provided no adverse effect on title). Otherwise, 75% member vote required. (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.