Boynton & Judd's Lake Add

Key facts from Boynton & Judd's Lake Add's documents

Community type

residential condominium (Article 1.2)

Legal name

Lakeshore Club Condominiums

Developer / declarant

Lakeshore Club Condominiums, Inc., a Michigan Nonprofit Corporation (the Association) (Opening paragraph, Page 1)

Management

Redstone Property Management LLC

Governing law

Michigan Condominium Act (Act 59 of Public Acts of 1978, as amended) (Article 1.1 and Article 8)

Assessments & dues

Board establishes annual budget; assessments are levied proportionally based on equal percentage of value per Unit (Article 5.2). (Bylaws Article 8.3 and Master Deed Artic)

Special assessments

Allowed for unusual expenses benefiting less than all Units (per Section 69 of Act). Also budget may include reserves and contingencies. (Master Deed Article 4.3(e) and Bylaws Ar)

Collections & liens

Assessments are a lien on the Unit and may be enforced by foreclosure. (Master Deed Article 6.4 and Bylaws Artic)

Reserves & fees

Annual budget shall include an allocation to a reserve fund for maintenance, repairs and replacement. (Bylaws Article 8.3(a), Page 29)

Parking & vehicles

Carport spaces 1-34 are Limited Common Elements assigned to specific Units per Exhibit C. Other parking areas in common elements. (Master Deed Article 4.2(a) and 4.1(i), P)

Maintenance

Roof is part of General Common Elements (Building Elements), so Association responsible. (Master Deed Article 4.1(h), Page 8)

Voting & meetings

Each Co-owner one vote per Unit owned, provided not in default by more than 60 days of any assessment. Joint owners vote jointly as a single vote. (Bylaws Article 2.2, Page 17)

Amendments

Non-material amendments by Association alone; material amendments require 2/3 Co-owner approval; if mortgagee rights affected, need 2/3 mortgagee consent; percentage of value change requires each affected Co-owner and mortgagee consent. (Master Deed Article 7.1, Pages 14-15)

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