Waterside Village Condominiums

Key facts from Waterside Village Condominiums's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium common interest community (Recital B: "create, in the Land, a condo)

Legal name

Waterside Village Condominiums

Units / lots

37 (13 Residential, 8 Commercial, 16 Parking) as of original; after subdivision of C-1, 38 (13 Residential, 9 Commercial, 16 Parking) (Original: Article 3.2; Amendment: subdiv)

Developer / declarant

Waterside Village, LLC, a Colorado limited liability company (Opening paragraph and signature)

Governing law

Colorado Common Interest Ownership Act, C.R.S. §38-33.3-101 et seq. (Recital B and Section 2.1)

Special assessments

Executive Board may levy Special Assessment for any operating deficit, loss, or unbudgeted expense, with 30 days’ prior written notice (Section 9.6)

Collections & liens

Association has statutory lien for assessments, prior except to certain first mortgages (recorded before declaration, or first mortgage recorded before delinquency, or real estate taxes). Lien may be foreclosed like a mortgage. (Sections 9.8, 9.9)

Reserves & fees

Association shall establish adequate reserve fund for maintenance, repair, replacement of Common Elements and insurance deductibles, one year after Assessments commence (Section 9.4)

Signs & flags

Commercial Unit Owners may erect signs on Commercial Unit or Common Elements, subject to Rules, Declaration, and Steamboat Springs ordinances; signs considered personal property of Owner (Section 7.3)

Insurance

Association shall adequately insure Parking Units and all related Common Elements. Association may maintain liability insurance for officers and managers. (Sections 8.4, 8.5(n))

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