Eagle's Nest Condominium Association, Inc.

Key facts from Eagle's Nest Condominium Association, Inc.'s documents

Reflects the 1983 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 1, Section 1.1)

Units / lots

Initially 10 (Phase 1A) plus 10 (Phase 1B) created by First Amendment; Declarant reserves right to create up to 120 total units (Section 1.1 and First Amendment, paragra)

Developer / declarant

Downing Associates, Inc. (Article 1, Section 1.1)

Governing law

Rhode Island Condominium Act of 1982, R.I.G.L. 34-36.1 et seq. (Article 1, Section 1.1)

Assessments & dues

Association through Executive Board fixes sums necessary for Common Expenses; Monthly Assessment determined by dividing annual budget by number of Units (Section 15.1 and Section 5.2)

Special assessments

Executive Board may levy Special Assessments if cash requirement insufficient (Section 15.2)

Collections & liens

Unpaid assessments constitute a lien on the Unit pursuant to R.I.G.L. 36.1-3.16; Association may take action for collection (Section 15.6)

Reserves & fees

Association shall establish an adequate reserve fund for maintenance, repair, and replacement of Common Elements, funded by monthly payments as part of Common Expenses (Section 15.1)

Pets

Domestic animal life (dogs, cats, hamsters, birds, reptiles, amphibians, fish) may be kept as household pets only with prior written consent of Executive Board (Section 8.1(f))

Leasing & rentals

Yes, for residential purposes, but subject to Association's right of first refusal (Section 8.2(a))

Signs & flags

Only one small non-illuminated name sign on door allowed without Executive Board permission; all other signs prohibited (except Declarant's marketing signs) (Section 8.1(e))

Insurance

May contain a deductible provision in amount determined by Executive Board (Section 10.1(a))

Use restrictions

Units restricted to residential use as single family residences; no other purposes allowed (Section 8.1(a))

Voting & meetings

Each Unit Owner's vote equals Percentage Interest of the Unit multiplied by 100 (Section 5.3)

Amendments

Declaration may be amended by vote of Unit Owners holding 67% of votes; certain provisions (Section 8.2(4) and Article 9) additionally require prior written approval of mortgagees holding 51% of votes (Article 18 and First Amendment amendment)

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