Ivy Condominium Assn

Key facts from Ivy Condominium Assn's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Declaration, page 1)

Units / lots

4 (initially) (Article II, §2.1: "The Condominium Prope)

Developer / declarant

Elbert Investments, LLC (Article 1(j), page 9)

Governing law

Alabama Uniform Condominium Act of 1991, Code of Alabama 1975 §§ 35-8A-101 et seq. (Article I, §1.1(a) and WHEREAS clauses)

Assessments & dues

Set annually by Board based on budget (Article V, §5.2, §5.3)

Special assessments

Board may levy additional assessments if funds insufficient, including emergencies (Article V, §5.3: "the Board of Directors)

Collections & liens

Association has a lien against Units for delinquent assessments; may foreclose in same manner as real estate mortgages with power of sale (Article V, §5.7(a)-(b))

Reserves & fees

Assessments shall include an adequate reserve fund for maintenance, repair and replacement of Common Elements (Article V, §5.8)

Pets

Yes, but limited to no more than two (2) domesticated animals per Unit (Article VII, §7.8)

Leasing & rentals

Yes, entire Units may be leased (Article VII, §7.3)

Parking & vehicles

Not permitted to park ("excluding business vehicles") (Article VII, §7.2(a))

Maintenance

Association responsible for maintenance, repair, and replacement of roofs (Article VI, §6.1(ii))

Insurance

Association shall maintain insurance as provided in Article IX (details not fully visible, but Association is obligated to insure Common Elements and buildings) (Article IX, §9.2)

Use restrictions

Yes (Article VII, §7.2(a): "Each Unit in the )

Voting & meetings

Each Unit Owner is entitled to one vote for each Unit owned (Article IV, §4.2; Article III, §3.5)

Amendments

Developer may amend certain sections without Owner approval (e.g., adding units). Amendments by Unit Owners likely require supermajority (Article XII) (Article XII, §12.1 (Developer); §12.2 (U)

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