Sea Gate Village Homeowners Association

Key facts from Sea Gate Village Homeowners Association's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Sea Gate Village Homeowners Association

Special assessments

Association may levy a special assessment at any time during any assessment year, fixed at one uniform rate for each Lot and Unit, for such term and amounts as Board determines, for the purpose of defraying cost of loans, construction, reco (ARTICLE V Section 4. Special Assessments)

Collections & liens

Mortgagee holding Unit 1 (The Manor House) as collateral has first priority lien superior to all rights of Owners; upon foreclosure, collateral may be transferred free and clear of any and all right, title and interest of the Owners; subseq (ARTICLE IV Section 3. ... mortgagee whic)

Reserves & fees

Special assessment may be levied for operating Common Areas and Recreation Areas when a reserve fund does not exist or is not adequate. (for which a reserve fund does not exist )

Voting & meetings

Borrowing money requires approval of two-thirds (2/3) of Class A membership and two-thirds (2/3) of Class B membership; special assessments require assent of fifty percent (50%) of members voting in person or by proxy. (approved by the vote of two-thirds (2/3))

Amendments

This specific amendment was agreed and confirmed by unanimous vote on May 30, 2010 by all members and owners; the procedure for future amendments is not stated in this document. (agreed and confirmed by unanimous vote o)

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