Sea Cliff Terrace Condominium Owners Association

Key facts from Sea Cliff Terrace Condominium Owners Association's documents

Community type

Condominium

Legal name

Sea Cliff Terrace Condominium Owners Association

Governing law

Davis-Stirling Common Interest Development Act, California Civil Code section 1350 et seq. (Recital B (DOC 84846))

Assessments & dues

Board estimates total Common Expenses for the next Fiscal Year 45–60 days before fiscal year start, distributes budget to Members; aggregate Regular Assessment equals total estimated expenses less other income (Art. VIII, Sec. 8.7 A, B)

Special assessments

Special Assessments limited to aggregate of 5% of budgeted gross expenses for that Fiscal Year without vote or written assent of a majority of a quorum of Owners (Art. VIII, Sec. 8.8)

Reserves & fees

$10 or 10% of outstanding assessment, whichever is more, for assessments not paid within 15 days of due date (Art. VIII, Sec. 8.15 B)

Voting & meetings

Each Unit entitles the Owner to 1 vote; cumulative voting permitted for elections; HOA may suspend voting rights (Art. VII, Sec. 7.2)

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