Avenue

Key facts from Avenue's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1, 2(h), 3)

Units / lots

Up to 11 Units; currently 1 Unit (Unit 4) as of this Declaration (Section 4, Section 7, Schedule B)

Developer / declarant

LIGHTHOUSE PHIL MOOR, LLC, a Delaware limited liability company (Page 1; Sections 2(o), 29)

Governing law

Delaware Uniform Common Interest Ownership Act, 25 Del. C. Section 810-101, et seq. (Section 1, 2(a))

Assessments & dues

Common Expenses are all sums lawfully assessed against Unit Owners by Council; expenses include administration, maintenance, insurance, utilities, reserves, etc. (Section 2(f))

Special assessments

Not explicitly mentioned; Extraordinary Actions (expenditures over $25,000) require 67% Unit Owner vote (Section 40)

Collections & liens

Not detailed, but Act provides for liens; Association may enforce Condominium Documents including liens (Section 38)

Reserves & fees

Association shall maintain a fully funded repair and replacement reserve for General Common Elements based on a current reserve study (Section 31)

Leasing & rentals

Not detailed except that Declarant may rent unsold Units (Section 9(f) (For Rent signs limited))

Parking & vehicles

Not detailed; Declarant may use Common Elements for parking for sales (Section 16, 9(a) (construction parking))

Fences

Limited Common Elements include fence and gate within Unit boundaries serving that Unit exclusively (Section 8(c)(9)); no specific rules on fences (Section 8(c)(9))

Architectural approval

Yes, prior written approval of Association required for changes to exterior appearance, structural changes, etc. (Section 9(k), 9(q))

Signs & flags

For Sale signs permitted after period (2 years from first sale or 75% sold, whichever later); size up to 12"x18" on front lawn. No For Rent signs without Council consent. Declarant may place signs. (Section 9(f))

Maintenance

Roof and all roofing-related components are Limited Common Elements appurtenant to each Unit exclusively; Association has easement to maintain? Section 19 says Association maintains certain Limited Common Elements as set forth in Section 8( (Section 8(c)(1), Section 19)

Voting & meetings

Percentage Interest per Unit determines voting rights; initially Unit 4 has 100% until expansion; at full build out each Unit 9.099% (Schedule B, Section 6(h))

Amendments

Amendment by majority vote of Unit Owners; material amendments (as defined in Bylaws) require 67% vote and written approval from Eligible Mortgagees holding first liens on at least 51% of Units subject to mortgages. Percentage Interest chan (Section 23)

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