Founders Station a Condominium

Key facts from Founders Station a Condominium's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (title)

Legal name

Founders Station Condominium Association, Inc. (Section 1.01(c), page 6 of 80)

Developer / declarant

Founders Station, LLC (first paragraph)

Governing law

Alabama Uniform Condominium Act of 1991, Code of Alabama 1975 §§ 35-8A-101 et seq. (Page 5 of 80, WHEREAS clause)

Assessments & dues

Board adopts annual budget, then owners ratify at meeting (Sec. 5.03)

Special assessments

Board may levy additional assessments if insufficient funds, including emergencies (Section 5.03, page 14 of 80)

Collections & liens

yes, automatic lien upon recording, can foreclose (Sec. 5.07)

Reserves & fees

Assessments shall include an adequate reserve fund for maintenance, repair, and replacement of Common Elements and Limited Common Elements (Section 5.08, page 16 of 80)

Pets

yes, with restrictions (Sec. 7.02(m))

Leasing & rentals

yes, with conditions (Sec. 7.03)

Architectural approval

yes for alterations, additions, improvements to exterior, Common Elements, etc. (Sec. 6.02(b)(iv)-(v))

Signs & flags

not allowed on Common Elements or exterior without Board approval (Sec. 7.02(g))

Use restrictions

only Units on levels 2-4 of 2015 Building are restricted to residential (Sec. 7.02(a))

Voting & meetings

Each Unit has votes as set forth in Exhibit E; voting requirements are simple majority unless otherwise specified (Section 4.04, page 13 of 80; Section 4.0)

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