Sundial Lodge Condominium Owners Association, Inc.

Key facts from Sundial Lodge Condominium Owners Association, Inc.'s documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Recital B: Declaration of Condominium fo)

Governing law

Utah Code Annotated Section 57-8-16 (Utah Condominium Ownership Act) (Recital B)

Assessments & dues

Annual Budget prepared by Sundial Association based on historical and projected Common Expenses. Converted Space Common Assessment is 9.423% of Budget (exclusive of Special Common Assessments). Then 33.34% to Residential Units, 33.33% to AS (Section 6.1, 6.3.1)

Special assessments

Special Common Assessments are excluded from the Budget when calculating Converted Space Common Assessment (Section 6.1). Not further defined. (Section 6.1)

Collections & liens

Association has lien rights for Commercial Unit assessments per Declaration Section 24; for ASCU, default under Management Agreement allows remedies under that agreement and at law/equity. (Section 6.3.3 (lien rights), Section 6.3)

Reserves & fees

$5.00 per day for ASCU Converted Space Common Assessment; also applicable to Commercial Unit assessments per Declaration Section 24. (Section 6.3.2 (ASCU) and 6.3.3 (referenc)

Leasing & rentals

Leasing is allowed; rental management agreements with Unit Owners are part of ASCU's operations. Minimum lease term not stated. (Section 6.3.2 (rental management agreeme)

Parking & vehicles

Underground Parking Area converted to Common Areas and Facilities. ASCU manages it on behalf of Association per amended Management Agreement. No additional parking rules stated. (Section 3, Section 5)

Use restrictions

Not explicitly stated; units are residential (Residential Units) with one Commercial Unit. The Agreement deals with commercial and residential. (Recital C and definitions)

Voting & meetings

Members (Unit Owners) vote in accordance with the Declaration and Bylaws. Voting and ownership interests revised after conversion per Amendment to Declaration. (Articles of Incorporation Article X; Sec)

Amendments

Agreement may be modified only by written instrument signed by all Parties. Course of dealing cannot supplement. (Section 14)

Amenities

Swimming pool and hot tub facility to be constructed on Swimming Pool Parcel for use by Unit Owners, their guests and invitees. Operated and maintained by Association. (Recital F, 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.