Park Place Condominium Association

Key facts from Park Place Condominium Association's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Park Place Condominium Association

Units / lots

Up to 18 (10 in Phase I, up to 8 in Phase II) (Section 5.N and 5.O, Section 7.B)

Developer / declarant

JT Developers and Consultants, LLC (Section 5.H)

Governing law

Wisconsin Condominium Ownership Act, Chapter 703 of the Wisconsin Statutes (Section 1)

Assessments & dues

Common Expenses allocated among Units in the same percentages as undivided interests in Common Elements (Section 6.B)

Special assessments

Common Expenses may include assessments for repairs and reconstruction if insurance inadequate (Section 12.A(2)); Association may charge special assessment for alterations (Section 14) (Section 12.A(2), Section 14)

Collections & liens

Assessments of Common Expenses constitute a lien on the Unit; attachment, filing, effectiveness, priority and enforcement as provided by law; statement of condominium lien recorded; can pursue money judgment and other remedies (Section 6.B(1), (2))

Reserves & fees

Association may establish an appropriate reserve for future replacements, maintenance and repairs (Section 6.B)

Parking & vehicles

Non-exclusive right of ingress/egress over private drive and Common Elements for vehicular access to parking stalls reserved for exclusive use of such Unit; no obstruction of Common Elements without Association consent (Section 9, Section 8)

Signs & flags

Nothing shall be erected, emplaced, altered or constructed in, on or about the Common or Limited Common Elements without Association's prior written consent (Section 8)

Maintenance

Not explicitly stated; roof is part of building structure, likely Common Element (not included in Unit definition); Association responsible for repair/maintenance of Common Elements. (Section 5.Q(3) (Structural components no)

Insurance

Association maintains multi-peril property insurance on each building at full insurable value based on replacement cost, including fire and extended coverage; comprehensive public liability insurance on Common Elements; may maintain fidelit (Section 13.A, 13.B, 13.C)

Use restrictions

Units and Common Elements may be used only for single-family residential purposes (Section 8)

Voting & meetings

One vote per Unit; may be suspended for delinquent Common Expense assessments (Section 6.D, 6.B(2))

Amendments

Except for expansion, amendment requires written consent of 75% of Unit Owners plus consent of each Unit Owner's mortgagee; cannot substantially impair mortgagee security; no amendment affecting Declarant without Declarant's consent; must b (Section 21)

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