Si Atl02A

Key facts from Si Atl02A's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Lithia Springs Land Condominium Association, Inc. (Section 2.4)

Units / lots

2 (initially divided into two Units) (Section 4.1)

Developer / declarant

SI ATLO2A, LLC, a Delaware limited liability company (Article 1, Section 2.13)

Governing law

Georgia Condominium Act, O.C.G.A. §44-3-70 et seq. (Section 2.1)

Assessments & dues

Not explicitly stated; Base Assessment set by annual budget based on Percentage Interests. (Section 10.3(a)-(b))

Special assessments

Allowed; may not exceed Act's maximum without approval of Majority of Total Association Vote. (Section 10.4)

Collections & liens

Assessments are continuing lien on Unit; personal obligation of Owner. Foreclosure allowed after 30 days notice by certified mail or Statutory Overnight Delivery. (Section 10.7(a), 10.8(a)(v))

Reserves & fees

Board shall annually prepare capital reserve budget; contribution may be set by Board and included in annual budget. (Section 10.3(e))

Leasing & rentals

Not prohibited; Occupant defined includes tenants. No rental cap or minimum term specified. (Section 2.34 (definition of Occupant inc)

Home business

Not explicitly restricted; commercial use allowed as evidenced by Sub-owner commercial liability insurance requirement. (Section 11.3(b)(ii) (commercial use ment)

Maintenance

Owner maintains Unit; Association maintains Common Elements (including Limited Common Elements unless assigned). (Section 15.1, 15.2)

Insurance

For Common Elements loss, Association pays deductible as Common Expense. For Unit/Limited Common Element loss, Owner pays deductible up to $5,000 per occurrence (excess is common). (Section 11.6(a)-(e))

Use restrictions

Application of Nuisance Law applies. (Section 14.2)

Voting & meetings

One vote per Unit, equally weighted. Owner of each Unit and Board member appointed by Owner entitled to one vote per Unit. (Article 7)

Amendments

Article 22; consent of Occupants and Permittees not required. Recorded amendment required. Consent of all Owners and their Mortgagees needed for certain changes (e.g., alteration of Percentage Interests). (Article 22, Article 5 (alteration of Per)

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