333 Bush Street Residential Owners Association

Key facts from 333 Bush Street Residential Owners Association's documents

Community type

Condominium

Legal name

333 Bush Street Residential Owners Association

Governing law

California Civil Code (References to Civil Code Sections 1355, )

Assessments & dues

Board reviews proposed Pro Forma Budget and establishes Regular Assessment; increases over 20% of prior year require majority approval of Voting Power with quorum; emergency increases excepted (Section 7.2.3)

Special assessments

Allowed; limitations: cannot exceed 5% of budgeted gross expenses unless approved by majority of Voting Power with quorum; emergency assessments under Civil Code §1366(b) allowed; Reimbursement Assessments for damage caused by Owner (Section 7.6)

Collections & liens

Association may record lien and foreclose; if delinquency exceeds $1,800, may foreclose by judicial or trustee sale (Section 8.8.1)

Reserves & fees

Required; Board must maintain reserves based on Reserve Study; funds may be temporarily transferred to operating account with written finding, to be repaid within one year (Section 7.2.1, 7.5)

Pets

Yes; limited number of household pets (dogs, cats, etc.) and reasonable number of fish, small birds, or caged animals normally maintained indoors (Section 3.2)

Leasing & rentals

Yes, leasing of Units allowed (Section 3.18)

Architectural approval

Yes; Owner must submit Plans and Specifications to Board for approval for any alteration not exclusively confined within Unit (Section 5.5.1)

Home business

Allowed with Board approval; incidental office use allowed if no material increase in common area use; Non-Residential Unit may be used for commercial purposes (Sections 3.12, 3.14)

Insurance

Casualty insurance on Common Area in amount not less than full insurable replacement value; liability insurance; fidelity bond of $500,000 for agents handling funds; worker's compensation (Sections 10.10.1, 10.10.3, 10.10.4, 10.1)

Use restrictions

Each Unit shall be used only for residential purposes; no hotel, motel, boarding house or transient use (Section 3.19)

Voting & meetings

Each Member entitled to one vote per Unit owned; co-Owners cast one vote jointly (Section 6.1)

Amendments

Declaration may be amended by majority of total voting power; certain changes require consent of Unit Owners and Mortgagees (Section 11.3 lists items); amendment effective upon recordation with certificate of approval (Section 10.9 (of Original Declaration), )

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