745 Chestnut Street Homeowners Association

Key facts from 745 Chestnut Street Homeowners Association's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

745 Chestnut Street Homeowners Association

Governing law

Davis-Stirling Common Interest Development Act (Recitals B: "provisions of the Davis-Sti)

Special assessments

Allowed; aggregate cannot exceed 5% of budgeted gross expenditures in a fiscal year without owner approval, subject to emergencies (Section 4.04)

Reserves & fees

Not to exceed 10% of delinquent Assessment or $10.00, whichever is greater (Section 4.12)

Pets

Yes, fish, one (1) domestic dog or cat, or maximum two (2) birds inside a bird cage; not for breeding or commercial purposes (Section 7.04)

Leasing & rentals

Yes, provided lease is for entire Condominium and term is at least thirty (30) days; short-term rental (less than 30 days) prohibited (Section 7.06)

Parking & vehicles

Vehicles with commercial markings allowed if signs are unobtrusive and inoffensive as determined by Board; no vehicles emitting extraordinary noise or exhaust (Section 7.03)

Architectural approval

Yes, Architectural Control Committee and Board approval required for any construction, alteration, improvement, fence, wall, awning, etc. (Section 7.07)

Home business

Not permitted; "no part of the Development shall be used ... for any business, commercial, mercantile, storing, vending or other such nonresidential purposes" (Section 7.01)

Maintenance

Association (Common Area includes roofs) (Definition of Common Area: "roofs" are p)

Insurance

Blanket property insurance covering Development including improvements at 100% replacement cost (excluding foundation, excavation, etc.) with agreed amount or inflation guard endorsement (Section 9.01)

Use restrictions

Yes; Units for residential purposes only; no business, commercial, mercantile, etc. (Section 7.01)

Voting & meetings

Class A (all Owners except Declarant) one vote per Condominium; Class B (Declarant) three votes per Condominium owned until conversion (Section 3.06)

Amendments

Requires vote of a majority of total voting power of Association and approval of a majority of Mortgagees of First Mortgages (unless higher percentage required elsewhere) for material amendments affecting enumerated items (Section 10.01)

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