Brickway Residences

Key facts from Brickway Residences's documents

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

Community type

Condominium (Master Deed heading)

Units / lots

7 (initial); expandable to no more than 16 (Article VI, Section 6.1)

Governing law

Michigan Condominium Act, Act 59 of Public Acts of 1978, as amended (Article III, Section 3.1(a))

Assessments & dues

Board establishes annual budget; assessments apportioned by Percentage of Value (Bylaws Sections 2.2, 2.3)

Special assessments

Requires approval of more than 60% of Co-owners for additions over $5,000/year, purchase of Unit upon foreclosure, or other purposes (Bylaws Section 2.2(b))

Collections & liens

Association has lien for unpaid assessments; can foreclose by judicial action or advertisement; redemption period 6 months (1 month if abandoned) (Bylaws Section 2.5)

Reserves & fees

At Transitional Control Date, minimum 10% of current annual budget on non-cumulative basis; may need more (Bylaws Section 2.2(a))

Architectural approval

Yes, for improvements or alterations that impair appearance; Developer approval during Development Period, then Association approval (Article X; Section 4.4(a))

Maintenance

Roof area above Unit 1 is limited to deck; Developer may construct improvements above; maintenance responsibility not explicitly stated (Article XIV, Section 14.1(a))

Insurance

Fire, extended coverage, vandalism, liability, worker's compensation; includes interior betterments initially (at Board's option to change) (Bylaws Section 4.1)

Use restrictions

All Units except Unit 1 are restricted to residential use; Unit 1 is commercial (restaurant) (Article VI, Section 6.2; Article XIII)

Voting & meetings

Percentage of Value determines vote; each Co-owner one vote per Unit (Developer for unsold units); mortgagee votes on certain amendments; Unit 1 owner has special approval rights (Article V; Article XII; Bylaws)

Amendments

Developer may amend without consent for non-material changes during Development Period; material changes require 2/3 vote of Co-owners and mortgagees; some changes require affected Co-owner consent; Unit 1 consent required for changes affec (Article XII)

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