Three Flags Owners Association

Key facts from Three Flags Owners Association's documents

Community type

Covenant / Planned Community

Legal name

Three Flags Owners Association

Assessments & dues

Regular assessments estimated by Board within 60 days prior to each calendar year; estimated cash requirement assessed to Unit Owners according to ratio of unit square footage to total square footage as per Exhibit A; paid in equal monthly (Article IV, subparagraph 4.2(a) as amend)

Reserves & fees

Provision for contingencies and replacements included in estimated net charges. ('provision for contingencies and replace)

Voting & meetings

Amendment requires vote or written consent of 51% of members (Unit Owners) to amend Declaration (Article IX, paragraph 9.1). Amendment changing pro rata obligations requires approval of two-thirds of Unit Owners (Article VIII, subparagraph (Article IX, paragraph 9.1 ... Article VI)

Amendments

General amendments: vote or written consent of 51% of Unit Owners (Article IX, para 9.1). Amendments changing pro rata obligations: approval of two-thirds of Unit Owners (Article VIII, subpara 8.1(q)). This amendment obtained two-thirds app (same as voting_rights plus 'owners of fo)

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