Guthrie Condominium I

Key facts from Guthrie Condominium I's documents

Community type

Condominium (Section 3. NAME OF PROPERTY: the GUTHRIE)

Legal name

GUTHRIE CONDOMINIUM I

Developer / declarant

R.O. GRAHAM GUTHRIE and ANN MARTE GUTHRIE

Governing law

Title 25, Chapter 22 of the Delaware Code, the Unit Property Act (Section 1. INTENT OF DECLARATION)

Special assessments

Capital improvements may be assessed, but no unit owner assessed without consent more than 15% of the average annual assessment for common expenses over preceding 5 years (Section 9. ACQUISITION AND IMPROVEMENT O)

Collections & liens

Lien for common expenses has priority over all other liens except first mortgages; first mortgagee taking possession takes free of claims for unpaid assessments accrued prior (Section 14. PRIORITY OF LIENS)

Leasing & rentals

Units may be rented as provided in Rule 12 (Section 7(a))

Insurance

Council shall purchase comprehensive liability insurance covering Council and unit owners as to all common elements with minimum limits of $1,000,000 bodily injury and property damage (Section 11)

Use restrictions

Each unit shall be used exclusively for residential purposes (Section 7(a). RESTRICTIONS ON USE)

Amendments

Amendments may be made by Council for compliance without owner consent; no amendment materially affecting value or use of units without equally affecting others unless all affected consent; while Developer holds unsold units, no amendment w (Section 16. AMENDMENT)

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