Public Offering Statement Valley View Townhomes Association, Inc

Key facts from Public Offering Statement Valley View Townhomes Association, Inc's documents

Community type

Common Interest Community – Planned Community (Section 1.23 of Declaration (Page 35))

Legal name

Valley View Townhomes Association, Inc.

Governing law

Connecticut Common Interest Ownership Act, Chapter 828 of the Connecticut General Statutes (Public Act 09-225 as modified) (Page 1 (POS) and Section 1.1 of Declarat)

Assessments & dues

Common expenses apportioned equally among all Units (100% divided by number of units) (Declaration Section 9.2(a) (Page 42) and)

Collections & liens

Association has lien for unpaid assessments; priority over other liens except first mortgages recorded before delinquency; foreclosure must be instituted within 2 years after full amount due; cannot foreclose unless owner owes at least two (Declaration Section 19.4 (Pages 51-53))

Reserves & fees

12% interest on amount due from date of invoice for failure to reimburse; also late charges as common expense assessments (Declaration Section 6.4 (Page 38) and Se)

Leasing & rentals

Yes, but with restrictions (POS Page 22 and Declaration Section 10.2)

Parking & vehicles

Not permitted on property except in enclosed garage (Declaration Section 10.1(h))

Architectural approval

Declarant to provide Certificate of Approval for construction, alteration, improvement, repair of any dwelling or structure; in absence of issuance, no structure shall be less than 3 years from completion (Declaration Section 10.1(b) (Page 42))

Signs & flags

Association may not prohibit display of state flag or signs regarding candidates or ballot questions, but may regulate time, place, size, number, manner (Declaration Section 21.2 (Page 55-56))

Use restrictions

Each Unit restricted to construction and occupancy of a single-family residence (POS Page 19 and Declaration Section 10.1)

Voting & meetings

One vote per Unit (Declaration Section 9.2(b) (Page 42) and)

Amendments

Declaration amended by 67% vote of Unit Owners; Bylaws amended by 2/3 vote of Executive Board after Notice and Comment; certain amendments require 51% Eligible Mortgagee consent (Declaration Sections 15.1 (Page 45) and )

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