Flat River Main Street Condominiums

Key facts from Flat River Main Street Condominiums's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Flat River Main Street Condominiums

Developer / declarant

Morning Star Properties Group, LLC

Governing law

Michigan Condominium Act, Act 59 of Public Acts of 1978, as amended (Preamble, page 2)

Assessments & dues

Board of Directors establishes annual budget; assessments based on Percentages of Value allocated to each Unit in Master Deed Article V (Bylaws Art. II, §2.03(a), §2.04)

Special assessments

Special assessments for capital improvements exceeding $1,000 per year or other purposes require approval of more than 75% of all Co-owners in number (Bylaws Art. II, §2.03(b))

Reserves & fees

Reserve fund at least 10% of Association's current annual budget on a non-cumulative basis; must be funded by regular monthly payments (Bylaws Art. II, §2.03(a))

Signs & flags

Commercial sign space on General Common Elements assigned by Developer until end of Development and Sales Period, then by Association; sign space on Limited Common Elements assigned by Co-owner of such Unit (Master Deed Art. IV, §4.2(g))

Maintenance

Roofs are General Common Elements; responsibility of Association (Master Deed Art. IV, §4.1(h))

Voting & meetings

Each Co-owner entitled to one vote per Unit when voting by number; one vote equal to Percentage of Value when voting by value. Voting shall be by number. (Bylaws Art. I, §1.02(c))

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