Alden Ridge Condominium

Key facts from Alden Ridge Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential site condominium (Recital C)

Legal name

Alden Ridge Condominium

Developer / declarant

Alden Ridge Partners, LLC

Governing law

Michigan Condominium Act, Act 59 of the Public Acts of 1978, as amended (Section 1.1)

Special assessments

Special assessments beyond regular assessments require approval of two-thirds of all members in value and in number, except for certain capital improvements over $1,000/yr and other needs. (Bylaws Section 5.5)

Collections & liens

Unpaid assessments constitute a lien prior to all other liens except taxes and first mortgage; Association may foreclose by judicial action or advertisement (power of sale). (Bylaws Section 5.6)

Reserves & fees

An adequate reserve fund for maintenance, repair and replacement of general common elements must be established in the budget and funded by regular assessments. (Bylaws Section 5.4 last paragraph (PAGE )

Architectural approval

Association Review Board established (initially Developer) to evaluate compliance of proposed improvements and plans. Approval required for construction, alteration, exterior changes. (Bylaws Section 4.3)

Use restrictions

Units to be used as building sites for single-family homes. (Section 4: 'contains individual units to)

Voting & meetings

Each unit collectively entitled to one vote when voting by number and one vote equal to total percentage assigned to the unit when voting by value. (Bylaws Section 2.2)

Amendments

Condominium Documents may be amended without consent if not materially altering rights; otherwise requires 2/3 vote of co-owners and 2/3 of first mortgagees. Developer may unilaterally amend for certain purposes listed in 10.2.7 (correction (Section 10.2, 10.2.7, 10.5)

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