Parkcrest Lofts Owners Association

Key facts from Parkcrest Lofts Owners Association's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium Project (Common Interest Development under Davis-Stirling Act) (Section 1.2)

Legal name

ParkCrest Lofts OWNERS ASSOCIATION, a California nonprofit mutual benefit corporation (Section 1.3.4 and Section 3.2)

Units / lots

6 (four Residential Units U-3 through U-6 and two Commercial Units U-1 and U-2) (Section 1.3.1 and Section 3.47)

Developer / declarant

PARKCREST, L.L.C., a California limited liability company (Preamble and Section 3.16)

Governing law

Davis-Stirling Common Interest Development Act (California Civil Code Section 1351 et seq.) (Section 1.2)

Assessments & dues

Board determines annual regular assessments based on budget; must be in writing and notice given. (Section 11.5, 11.15)

Special assessments

Permitted; defined in Section 11.11; also capital improvement assessment (11.9) and supplemental annual assessment (11.8). (Sections 11.8-11.11)

Collections & liens

Association has lien on each condominium for unpaid assessments; may enforce by foreclosure sale under California Civil Code Sections 2924, 2924b, 2924c. (Section 11.24, 11.24.7)

Reserves & fees

Association shall maintain reasonable reserves as deemed appropriate by Board. (Section 3.8(i) and 11.31)

Pets

Pets allowed but must not be excessive, cause annoyance, or interfere with others. No specific count or breed limit stated. (Section 12.4)

Leasing & rentals

Leasing of condominiums is permitted subject to requirements. (Section 12.2)

Fences

Fences and walls subject to architectural approval (Section 12.14). (Section 12.14)

Architectural approval

Architectural and Design Control (Article 13). Plan submission and Board approval required for exterior changes. (Section 13.3, 13.4)

Home business

Not explicitly addressed in provided text. (Not mentioned)

Signs & flags

Restricted; Declarant may post signs for marketing during development period (Section 6.3.1(c)). Otherwise signs subject to architectural control and Article 12.6. (Section 12.6, 6.3.1(c))

Insurance

Association shall maintain master insurance covering Common Area, including fire hazard, public liability, and other coverage as Board deems appropriate. (Section 15.1)

Use restrictions

Residential Units (U-3 through U-6) are for residential purposes; Commercial Units (U-1, U-2) allowed for commercial use. (Section 3.47, Section 12.1)

Voting & meetings

Two classes: Class A (each owner other than Declarant, one vote per condominium); Class B (Declarant, three votes per condominium owned). Class B converts to Class A when Class A votes >= Class B or two years after first retail conveyance. (Section 8.2)

Amendments

Before first unit conveyance: Declarant may amend unilaterally. After first conveyance: requires vote or written consent of Owners (67% of voting interests?) per Article 20. Technical errors may be corrected by Board. (Article 20, Sections 20.1-20.3)

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