Lake San Marcos Villas Homeowners Association

Key facts from Lake San Marcos Villas Homeowners Association's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Lake San Marcos Villas Homeowners Association

Governing law

California Civil Code (Recital (C) and various sections referen)

Assessments & dues

Board sets Regular Assessments based on annual budget of estimated common expenses (less other income). (Section 5.3(A))

Special assessments

May be levied by Board for capital improvements or other purposes; limited to 5% of budgeted gross expenses per fiscal year without owner vote. Emergency situations exempt from vote requirement with Board resolution and findings distributed (Section 5.4, 5.4(A))

Reserves & fees

Association may set aside reserves for maintenance, repair and replacement of Common Area and Common Facilities, and for nonpayment of assessments. (Section 1.9(C))

Pets

true (Section 6.2(A) - household pets allowed)

Leasing & rentals

true (Section 6.1(C) and Article 8 heading - O)

Architectural approval

true (Article 7 heading and Section 7.3 Approv)

Signs & flags

Commercial signs prohibited except as required by legal proceedings or as authorized by the Board. (Section 6.3(A))

Insurance

Association shall secure and maintain policies of insurance as provided in Article 11. (Section 4.4(D))

Use restrictions

true (Section 6.1(A), 6.1(B) - Units restricte)

Voting & meetings

One vote per Condominium owned. No fractional votes. Joint owners must cast a single vote; if unable to agree, vote is lost. (Section 2.2, 2.4)

Amendments

Amendments require vote or written consent as per Article 17; certain amendments require approval of first mortgagees (Section 17.2). (Article 17, Section 17.2)

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