Stanford Commons HOA

Key facts from Stanford Commons HOA's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned community (Section 1.15: "Community is a planned co)

Legal name

Stanford Commons

Governing law

Colorado Common Interest Ownership Act, C.R.S. 38-33.3-101 (Section 1.1: "Act" means the Colorado Co)

Assessments & dues

Board of Directors determines annual budget; budget deemed ratified unless a majority of owners or applicable subset votes to reject at a meeting; if rejected, prior budget continues until new budget ratified (Section 4.5: "Within thirty (30) days af)

Special assessments

Board may levy with approval of 2/3 of Member votes cast at a meeting; can be for capital improvements, repair, replacement, or operating deficit (Section 5.5: "Board of Directors may lev)

Collections & liens

Association has lien on Unit for unpaid assessments; may foreclose like a mortgage; lien extinguished if enforcement not instituted within 6 years of full amount due; lien priority: after prior recorded liens, first security interests (subj (Sections 5.8, 5.9, 5.10: "The Associatio)

Reserves & fees

Up to $50 per month (Section 5.11: "a late charge no in exces)

Pets

Yes, limited to household pets (dogs, cats, etc.) not for commercial purposes and not creating a nuisance (Section 10.5: "Owners of each Townhome U)

Leasing & rentals

Initial term not less than one month (Section 10.15: "No lease shall have an i)

Parking & vehicles

Prohibited; defined as not driven under own power for 72+ hours or no operable propulsion system or not currently licensed/registered; exception for vacation (max 4 weeks) or illness period (Section 10.7(j): "no abandoned or inoper)

Fences

No fences not installed by Declarant except with Board approval; only three-rail open rail fences permitted (subject to change by Board) (Section 10.7(e): "No fences not installe)

Architectural approval

Board approval required for certain improvements like fences, antenna, exterior changes; specific rules for temporary structures, lighting, etc. (Section 10.7: various subsections requir)

Home business

Permitted if allowed by zoning, no external evidence, no unreasonable inconvenience to other residents (Section 10.3: "Owner may use his Unit fo)

Signs & flags

No advertising or signs except name plate, street number, for sale/rent signs up to 5 sq ft; Declarant may have construction/sales signs; antenna/satellite dish subject to Telecommunications Act; restrictions on types and locations (Section 10.7(a): "No advertising or sign)

Maintenance

For Duplexes: periodic replacement of roof shingles is a Duplex Capital Replacement, maintained by Association. For Townhomes: roof is part of Townhome Exterior Maintenance Area, maintained by Association. (Sections 1.22 and 1.41: "Duplex Capital )

Insurance

Association maintains property insurance on Common Areas and Townhome Exterior Maintenance Areas; commercial general liability insurance ($1M+); fidelity bond protecting against dishonest acts; flood insurance (if in flood zone) (Section 7.1: "The Association shall main)

Use restrictions

Units for residential use only, except leasing and certain home occupations (Section 10.3: "All Units shall be used f)

Voting & meetings

One vote per Unit; no votes for Association-owned Units; total votes = number of Lots (less Association-owned) (Section 3.2: "Each Owner shall be entitl)

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