12 School Street Condominium Trust, `

Key facts from 12 School Street Condominium Trust, `'s documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Preamble and Section II)

Legal name

12 School Street Condominium Trust

Developer / declarant

Declarant (as defined in Master Deed, likely entity controlling initial development) (Section III(a)(i) - 'designation of the )

Governing law

Massachusetts General Laws, Chapter 183A (Condominiums) (Section II(a), Section VIII(b))

Reserves & fees

Interest at 6% above First National Bank of Boston prime rate (max 19% per annum) on unpaid assessments; plus all costs of collection including attorney fees (Bylaws Section 2E)

Architectural approval

Written consent of Trustees required for alterations to exterior of any unit, common areas, hallways, lobby; interior decoration allowed without consent if no structural alteration; painting exterior door allowed freely (Bylaws Section 25)

Home business

Accessory office/artist studio allowed only: no exterior signs except nameplate on mailbox, infrequent business visitor traffic, no more than one non-resident employee (Bylaws Section 15B)

Signs & flags

Except as provided, no business, professional, commercial signs on property; 'For Sale'/'For Rent' signs allowed only by Declarant during unit ownership and by mortgagee; max size 2 sq ft (Bylaws Section 26)

Insurance

Trustees may set deductible, not greater than lesser of $10,000 or 1% of policy face amount; Trustees shall specify in writing how deductible paid in event of loss (Bylaws Section 3(4))

Use restrictions

No unit occupied for nonresidential purposes; but accessory office and/or artist studio allowed if permitted by zoning and limited; Declarant may use units for sales office/model until all units conveyed (Bylaws Section 15A, 15C)

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