Ocean Five

Key facts from Ocean Five's documents

Reflects the 1984 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Ocean Five Maintenance Association

Units / lots

5 (Lots 20, 22, 24, 26, 28) (Exhibit 'A' listing five lots)

Developer / declarant

PEGGY, INC., a Delaware corporation (Preamble)

Assessments & dues

Fixed annually by Board of Directors, at a uniform rate for all lots (Section 1(c): amount fixed annually by B)

Special assessments

Special assessments for capital improvements allowed (Section 1(b): (2) special assessments fo)

Collections & liens

Assessments are a lien on the land; Association may foreclose lien or bring action at law (Section 1(d) and (e))

Parking & vehicles

Placement of travel trailers, mobile homes, motor homes, boats, boat trailers, vans, trucks and other unattractive storage prohibited except for loading/unloading (Section 9 (last paragraph))

Architectural approval

Written approval of The Association required for any building, fence, wall, other structure, addition, alteration, or color change (Section 10)

Maintenance

Association responsible for improving and maintaining private road, private parking lot, and private open spaces; owners responsible for paying assessments (Section 2, Section 1)

Use restrictions

Lots shall be used for private residential purposes only; only private dwelling houses may be erected (Section 8)

Voting & meetings

One vote per lot, exercised by record owners; no more than one vote per lot (Section 3)

Amendments

Prior to 2004, owners of 60% of lots may release restrictions; Declarant may change while owning 60% or more lots; after Declarant ceases to own 60%, Declarant with sufficient owners to reach 60% may modify. (Section 14 and 15)

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