River Place Owners Association, Inc.

Key facts from River Place Owners Association, Inc.'s documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

commercial office park (River Place Office Park) (Section 1: Definitions (Roads and Ways) )

Assessments & dues

Not fixed; determined by Board based on anticipated needs (Section 22(c)). Developer pays only 25% of regular assessments on owned lots; unoccupied units also 25%. (Section 22(a) and 22(c))

Special assessments

Allowed for unanticipated or necessary expenditures; requires 2/3 vote of each class. (Section 22(d))

Collections & liens

Association has a continuing lien on the Unit for unpaid assessments plus interest and attorney's fees; subordinate to first recorded mortgage. Association may foreclose lien. Also, a lien for sums due under Paragraph 10 (maintenance). (Section 11 and Section 22(a),(h))

Reserves & fees

Association may create and fund reserve accounts as determined by Board. (Section 23(g))

Leasing & rentals

Implied allowed (Section 2E requires copy of lease to be delivered to Association; Section 14 states obligations remain with owner, not lessee). (Section 2E and Section 14)

Parking & vehicles

Not permitted (parking not permitted on streets). (Section 4)

Fences

Fences included in improvement alteration requiring plan approval (Section 6). No specific fence rules. (Section 6)

Architectural approval

Yes, Developer must approve plans and specifications for construction or alteration of improvements (including buildings, signs, walls, fences, landscaping). (Section 5 and 6)

Signs & flags

Size and design of signs must be approved in writing by Developer. No "for sale" or "for rent" sign may be erected without approval. Also, no mailbox or paperbox on Common Facilities without Association approval. (Section 7 and Section 2C)

Maintenance

Association maintains non-structural components (shingles, decking, surface roofing, seals, caulking); Owner maintains portions serving only that unit (vents, fans, plumbing stacks, etc.). (Section 22(b))

Use restrictions

Offensive or hazardous uses prohibited (odor, fumes, dust, smoke, noise, pollution, fire/explosion danger, etc.) (Section 2: Uses)

Voting & meetings

Two classes: Class A (all Owners except Developer) – one vote per Unit owned; Class B (Developer) – number of votes equal to all Class A votes plus one, until conversion. (Section 21(B))

Amendments

Declarant may amend alone for first 5 years; thereafter by 75% of votes in each class. Amendment must be recorded. (Section 26)

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