Villa Monterey Condominium Owners Association

Key facts from Villa Monterey Condominium Owners Association's documents

Reflects the 1996 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Throughout document (e.g., 'Condominium')

Developer / declarant

KAISER AETNA, a California partnership (Article I, Section 1.9)

Governing law

Davis-Stirling Common Interest Subdivision Act (California Civil Code §1350 et seq.) (Recitals D)

Assessments & dues

Determined by Board; not specified in document (Article IV, Section 4.3)

Special assessments

Board may levy special assessments; if aggregate exceeds 5% of budgeted gross expenses for that fiscal year, requires majority vote of owners casting votes at meeting with quorum. (Article IV, Section 4.4.1)

Collections & liens

Annual, Special and Individual Assessments become a lien upon recording notice of assessment. Lien enforceable by sale (nonjudicial foreclosure) under California Civil Code §§2924 et seq. Lien subordinate to first mortgage/deed of trust. In (Article IV, Sections 4.1, 4.6, 4.8, 4.9.)

Reserves & fees

Board shall determine annual contribution to reserves for repair/replacement of major components. Reserve funds held in separate account. Expenditure only for repair, restoration, replacement, or litigation related to major components. Temp (Article IV, Section 4.4.2; Article V, Se)

Pets

Yes, domestic dogs, cats, fish, and birds inside cages may be kept as household pets. Not for commercial purposes. (Article VII, Section 7.9)

Leasing & rentals

Yes, an Owner may lease or rent the Unit. (Article II, Section 2.10)

Parking & vehicles

Trucks and commercial vehicles may not be parked or stored on development except in unit's garage. (Article VII, Section 7.5)

Architectural approval

Yes. No 'Improvement' (as defined) shall be commenced, erected, or maintained within the Properties without prior written approval of Board after review by Architectural Review Committee. (Article VIII, Section 8.1)

Maintenance

Association responsible for roof (exterior maintenance). (Article VI, Section 6.1 (roof listed und)

Insurance

Association shall obtain property insurance at full replacement value (100% current replacement cost exclusive of land, foundation, excavation, and other items normally excluded). Also liability insurance, fidelity coverage, flood insurance (Article IX, Sections 9.1, 9.2, 9.4, 9.5)

Use restrictions

Units shall be used for residential purposes only. Leasing permitted but lessees must comply with governing documents. (Article VII, Section 7.1)

Voting & meetings

Each Condominium entitled to one vote. Only one vote per unit. Joint owners must agree; otherwise vote lost. No fractional votes. (Article III, Sections 3.4 and 3.5)

Amenities

Recreation Area mentioned but not detailed. Common Areas include facilities. No specific amenities listed. (Article VI, Section 6.1; Article II, Sec)

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