Missionary Ridge

Key facts from Missionary Ridge's documents

Community type

Condominium

Legal name

Elizabeth Condominium Association, Inc.

Assessments & dues

Not fixed; determined annually by board budget. (Section 16)

Special assessments

Board may levy special assessment if budget inadequate; assessed per percentage of ownership in common elements; effective with monthly payment due no more than 10 days after notice. (Section 16)

Collections & liens

Board may sue to enforce collection or foreclose lien; costs and reasonable attorney's fees added; special assessments for owner failure to maintain also a lien; unpaid assessments lien superior to later mortgages. (Sections 21, 9(i), 22)

Reserves & fees

Board shall build up and maintain a reasonable reserve for contingencies and replacements. (Section 16)

Maintenance

Board maintains common elements (including utilities, insurance, landscaping); co-owners maintain interior surfaces, windows, doors, decks, and storage. Board may perform maintenance if owner fails and levy special assessment. (Sections 9(f), 9(i))

Insurance

Board shall obtain insurance as required by the Act and such other insurance as board deems advisable for the condominium. (Section 9(b))

Voting & meetings

Each co-owner votes based on percentage interest in common elements; if unit owned by multiple persons, voting rights exercised as if one person via proxy or other designation. (Section 1)

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