Marina Bay Townhouse Condominiums

Key facts from Marina Bay Townhouse Condominiums's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title and Recital C)

Legal name

Marina Bay Townhouse Condominiums

Units / lots

124 (Recital B: "up to a total of One Hundred)

Developer / declarant

Peninsula at Longneck, LLC

Governing law

Delaware Unit Property Act (Chapter 22, Title 25 of the Delaware Code) (Recital C)

Assessments & dues

Council determines necessary amount and prepares budget (Section 8: "The Council shall prepare an)

Special assessments

Allowed for capital improvements, unexpected repairs, or other lawful purpose (Section 8: "the Council may levy, in any)

Collections & liens

Assessments are a continuing lien on the Unit; can be foreclosed like a mortgage (Section 8: "Each assessment shall be a c)

Reserves & fees

Capital reserve fund required for capital improvements; surplus may be set aside (Section 8: "The Council shall levy (as p)

Leasing & rentals

yes, subject to Condominium Documents and Master Declaration (Section 10: "All leases shall be express)

Architectural approval

yes, prior Association consent required for exterior changes, structural additions, etc. (Section 13(d): "Unit Owners shall not ha)

Maintenance

Limited Common Element; owner of unit in that building responsible (per general rule) (Section 6.a(vii): "the roof structure an)

Insurance

Multiperil master policy on entire Condominium (Units and Common Elements) including standard fixtures and building service equipment, personal property of Association; also liability insurance ($1,000,000 minimum), fidelity coverage, flood (Section 16: "The Council shall obtain an)

Use restrictions

yes, except Declarant's sales offices and models (Section 13(a): "No Unit, except those Un)

Voting & meetings

Each Unit Owner entitled to votes equal to percentage interest; proxy allowed (Section 7: "each Unit Owner shall be ent)

Amendments

Declarant may amend to add phases or change interiors of owned units; Unit Owners may amend by 67% vote of total votes; Declarant or Council may amend to comply with lender requirements without Unit Owner consent so long as Declarant owns u (Section 20 (a), (b), (c))

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