Moorings Condominium

Key facts from Moorings Condominium's documents

Reflects the 1984 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration, Article A: submits the Land)

Legal name

The Moorings Condominium

Developer / declarant

4490 Associates, a Rhode Island limited partnership

Governing law

Rhode Island Condominium Act, Title 34, Chapter 36.1 of the General Laws of Rhode Island, 1956 (Declaration, Article A: pursuant to Titl)

Assessments & dues

Board of Directors shall at least annually prepare a budget, determine Assessments, and allocate among Unit Owners in accordance with undivided percentage interest in Common Elements (Declaration, Article K: The Board of Dir)

Special assessments

Board of Directors may establish special Assessments chargeable to a Unit Owner in the same fashion as regular Assessments; if caused by failure of a Unit Owner, may be levied solely against that Owner (Declaration, Article K: The Board of Dir)

Collections & liens

Association has a lien on each Condominium Parcel for unpaid assessments/fees, with interest and attorneys' fees. Lien effective from recording claim of lien. May foreclose in manner of mortgage foreclosure. No foreclosure suit until at lea (Declaration, Article L, Sections 2 and 3)

Reserves & fees

Budget may, but need not, include reserves (Declaration, Article K: The budget may, )

Leasing & rentals

Yes, but subject to approval and right of first refusal by Association; Board must consent or designate another person to purchase/lease on same terms (Declaration, Article M, Section 1: Shoul)

Maintenance

Roofs are Common Elements, thus Association responsibility (Declaration, Article C, Section 4: Commo)

Insurance

Association shall obtain and maintain insurance on the Condominium Property (including Units but excluding personal property of Unit Owner, additional improvements made by Unit Owner within Unit, and exterior glass) against fire and other h (Declaration, Article G, Section 1: The A)

Voting & meetings

Each Unit Owner is entitled to one vote (Declaration, Article E: Each Unit Owner )

Amendments

Amendments by Association require notice, meeting, affirmative vote of Unit Owners owning not less than 67% of Units represented at quorum meeting. Amendments by Developer before Termination of Control Date allowed to correct omission or er (Declaration, Article F, Sections 1, 2, 3)

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