Waterville Street Condominium

Key facts from Waterville Street Condominium's documents

Reflects the 1986 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Common Interest Community) (Section 2.1)

Legal name

WATERVILLE STREET CONDOMINIUMS

Governing law

Common Interest Ownership Act, Chapter 828 of the Connecticut General Statutes, as amended (Section 1.1)

Assessments & dues

Common expenses assessed against all Units in proportion to their percentage interest shown on Schedule A-2 (based on floor area). Budget adopted by Executive Board and ratified by majority of all Unit Owners at a meeting. (Sections 19.2, 19.5)

Special assessments

Not defined separately; non-budgeted common expense assessments >15% of annual budget require ratification (Section 19.6). Assessments attributable to fewer than all units (Section 19.3) are also possible. (Sections 19.3, 19.6)

Collections & liens

Association has statutory lien on a Unit for unpaid assessments from time due. Lien perfected by recording Declaration (no further recording). Foreclosure as on mortgage. Lien extinguished if enforcement not instituted within 2 years after (Section 19.4)

Reserves & fees

Common Expenses include reserves established by Association for repair/replacement of Common Elements or other real/personal property held by Association (Section 19.1(d)). (Section 19.1(d))

Leasing & rentals

Yes, but subject to restrictions. A Unit may be rented for a term of not less than sixty (60) days. All rental agreements must be in writing and subject to the requirements of the Documents and the Association. (Section 10.2)

Parking & vehicles

Garages are limited common elements assigned to each Unit (Article V(i)). Garages may be used only for parking passenger vehicles; truck, commercial vehicles, etc. excluded (Section 10.1(d)). On-street parking not addressed. (Article V(i), Section 10.1(d))

Architectural approval

Unit Owner may not change the appearance of the Common Elements or exterior appearance of a Unit or any other portion of the Common Interest Community without prior approval of the Executive Board (Section 13.1(a)(1)). (Section 13.1(a)(1))

Home business

Home professional offices allowed as part of single-family use if they do not require regular visits from the public or unusual levels of mail, shipping, trash, or storage. Commercial or professional uses must be conducted only inside a Uni (Section 10.1(a))

Signs & flags

Declarant reserves right to post signs within Common Elements to promote sales (Section 8.5). No general rule for owners. (Section 8.5)

Maintenance

Not explicitly stated, but roof is part of Common Elements (since not within unit boundaries); thus Association is responsible per Section 6.1. (Section 6.1, boundaries definition)

Insurance

Property insurance on project facilities (buildings, fixtures, equipment, etc.) for 100% replacement cost; personal property of Association at actual cash value. Coverage against 'all risks' of direct physical loss. Also liability insurance (Sections 22.2, 22.3)

Use restrictions

Each Unit is restricted to residential use as a single-family residence, including home professional offices not requiring regular visits or generating public traffic. No more than two overnight occupants per bedroom. (Section 10.1(a))

Voting & meetings

Each Unit has one equal vote. Specified percentages refer to votes allocated in Schedule A-2. (Section 9.2(c))

Amendments

Declaration (including Survey and Plans) may be amended by agreement of Unit Owners of at least 67% of the votes (Section 15.1). Unanimous consent required for amendments creating or increasing Special Declarant Rights, increasing number of (Article XV)

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