Colony Place, a Condominium

Key facts from Colony Place, a Condominium's documents

Community type

Condominium

Legal name

Colony Place, A Condominium

Governing law

Georgia Condominium Act, O.C.G.A. §44-3-71 et seq. (Article One, page 5)

Assessments & dues

Board of Directors estimates budget by December 1st each year; annual assessment (common expenses) assessed equally among units; payable in equal monthly installments on or before the first of each month. (Article 7.2(a), pages 9-10)

Special assessments

Board may levy special assessments for capital additions/improvements of common elements, not exceeding $100 per unit per year unless approved by a majority of votes of unit owners (excluding Declarant) at a meeting. (Article 7.2(c), page 11)

Collections & liens

Assessments, late charges, interest, and costs of collection are a continuing lien on the unit; may be foreclosed like other liens for improvement of real property; lien prior except for ad valorem taxes and first mortgage recorded before a (Article 7.1 and 7.4, pages 9-12)

Reserves & fees

Funds for maintenance, repair, replacement of common elements that must be replaced periodically, and for contingencies, deficiencies, and emergency expenditures. (Article 7.2(a)(6), page 11)

Maintenance

Association maintains common elements (including limited common elements) and provides exterior maintenance (roofs, walls, foundations, etc.) except exterior doors, windows, screens, exterior lights serving a unit, and HVAC components servi (Article 6.1 and 6.2, pages 7-9)

Voting & meetings

Each unit owner has one vote. (Article 8.2, page 13)

Amendments

Not fully specified in provided text; referenced as recording of amendment to effect expansion, complying with Georgia Condominium Act. (Article Four, page 9)

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