Falcon Place Homeowners Association

Key facts from Falcon Place Homeowners Association's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association

Legal name

Falcon Place Homeowners' Association

Units / lots

5 (Lots 1 through 5) plus Tract A (Amendment Exhibit A)

Developer / declarant

Lennar Northwest, Inc.

Governing law

Oregon Planned Community Act (ORS 94.550 to 94.780) and Oregon Nonprofit Corporation Act (Art. 4.6, Art. 7.3, Art. 8.5, Art. 9.4)

Assessments & dues

Board prepares annual budget, sets annual assessment at least 30 days in advance, provides summary to owners within 30 days after adopting proposed budget (Art. 6.1.3, 6.1.4) (Art. 6.1.3, Art. 6.1.4)

Reserves & fees

Operations Fund and Reserve Fund (Art. 6.1.2); working capital fund becomes reserve fund after Turnover Meeting (Amendment §2) (Art. 6.1.2, Amendment §2)

Insurance

Reasonable deductible (Art. 7.1.1.2) (Art. 7.1.1.2)

Voting & meetings

Allocated per Lot as provided in the Declaration (Art. 3.7) (Art. 3.7)

Amendments

Proposed by Board majority or 30% of voting rights; adopted by majority (at least 51%) plus Class B member written consent if any; until Turnover Meeting, Declarant may amend for agency compliance (Art. 9.1, 9.2) (Art. 9.1, 9.2)

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