156-158 Sproule Lane Homeowners Association

Key facts from 156-158 Sproule Lane Homeowners Association's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.4 'Condominium' definition)

Legal name

156-158 Sproule Lane Homeowners Association

Developer / declarant

Ross McKenna and Paul McKenna (Signature page (page 31-32))

Governing law

California Civil Code (including Sections 5300, 5930, 5925, 5670, 5705, 5605, 7237, 4610, 2924, 2924b, 2924c) (Multiple references throughout, e.g., Se)

Assessments & dues

Operating budget proposed by President, approved by both Units; assessments divided according to Percentage Interest (Sections 3.9A, 5.2, 5.3)

Special assessments

Levy for extraordinary expenses not in pro forma operating budget, or any expense exceeding $75,000 per Owner for repair after catastrophic damage (Sections 5.1B, 9.2B)

Collections & liens

Delinquent assessment may become a lien on the Condominium; may be enforced by judicial foreclosure; non-judicial foreclosure under Civil Code §§2924, 2924b, 2924c only as allowed by law (Section 5.5C)

Reserves & fees

Required; separate account for reserves; Reserve Funding Plan must be prepared every 3 years; includes major components, current repair cost, remaining life, current reserves, funding plan; may be funded by assessment increase (Section 3.10)

Voting & meetings

Each Unit has one vote; fractional votes not allowed; abstention deemed approval (Section 4.2C (Voting Power and Abstentio)

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