Two Eighty Village a Condominium

Key facts from Two Eighty Village a Condominium's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Association: Two-Eighty Village Association, Inc.) (Article I Section 1.01(b): 'Association )

Legal name

Two-Eighty Village Association, Inc. (Article I Section 1.01(b))

Units / lots

14 commercial Units (WHEREAS paragraph: 'containing one (1) l)

Governing law

Alabama Uniform Condominium Act of 1991, Code of Alabama 1975 §§ 35-8A-101 et seq. (Preamble, Article I Section 1.01(a))

Assessments & dues

Not fixed; set annually by budget approved by Board and ratified by majority of Unit Owners present at meeting (Section 4.03: 'the Board shall set a dat)

Special assessments

Permitted; Board may levy additional assessments for emergencies or insufficiency (Section 4.03 last paragraph)

Collections & liens

Association has a lien on each Unit for delinquent assessments, interest, costs, attorneys' fees; may be foreclosed in same manner as real estate mortgages in Alabama; notice required to Unit Owner, Mortgagee, and other lienholders (Section 4.07: 'The association shall hav)

Reserves & fees

Budgets include reasonable allowances for reserves (Section 4.03); no specific reserve study requirement mentioned (Section 4.03: 'including reasonable allo)

Leasing & rentals

Yes, except Declarant is exempt from some restrictions (Section 6.03). All leases must be in writing and reflect requirement to be bound by Condominium Documents. Owner must provide tenant with copies. (Section 6.03(a) and (b))

Parking & vehicles

Not directly addressed; parking spaces for passenger automobiles only, may restrict commercial vehicles (Section 6.02(a))

Architectural approval

Yes, for alterations, additions, improvements to exterior portion of Unit, including painting, exterior doors, etc.; prior written consent of Board required (Section 5.02(b)(iv) and (v))

Signs & flags

Signage must be approved by Board, have standard uniform design, located in designated area; Owner/Occupant name allowed on glass entrance door with Board written approval; no other signage allowed except temporary signs by Developer (Section 6.02(e))

Maintenance

Roofs are Common Elements: 'The roofs, mechanical equipment and storage areas designated as common' (Section 1.01(e)(iii)). Association responsible for maintenance/repair of Common Elements (Section 5.01). (Section 1.01(e)(iii) and Section 5.01)

Insurance

Multi-peril hazard insurance on replacement cost basis (100% of replacement cost of improvements excluding land, foundations, etc.), public liability insurance minimum $1,000,000, workers' compensation, fidelity bonds for those handling fun (Section 8.02(a), (b), (c), (d))

Use restrictions

Prohibited: 'no noxious or offensive activities shall be carried on ... anything ... which may be or become an unreasonable annoyance or nuisance' (Section 6.02(f))

Voting & meetings

Each Unit Owner is entitled to the number of votes for each Unit owned as set forth in Exhibit D (Section 3.02: 'Each Unit Owner is entitl)

Amendments

Developer may unilaterally amend Declaration while it owns Units (Section 11.01). Unit owners may amend by affirmative vote of 67% of total votes of all Unit owners (Section 11.02). Amendments require approval of 51% of Mortgagees if they m (Article XI)

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