Gezon Place

Key facts from Gezon Place's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Commercial Condominium Project (Section 1.1(b): "The Project is a commer)

Legal name

Gezon Place

Developer / declarant

Gezon High, L.L.C.

Governing law

Michigan Condominium Act, MCLA 559.101, et seq., Act 59 of 1978 (Article I, Section 1.1(a) and Article II)

Assessments & dues

Board of Directors establishes annual budget; assessments allocated according to Percentage of Value (Building A Related Expenses equally among Building A units, Building B Related Expenses equally among Building B units, other common expen (Bylaws Article II, Section 2.3; Master D)

Special assessments

Allowed; Board may levy additional special assessments if general assessments insufficient for operations, maintenance, additions up to $5,000 annually, or emergencies. (Bylaws Article II, Section 2.3b)

Reserves & fees

Maintain at least 10% of current annual budget on a noncumulative basis for major repairs and replacements of Common Elements. (Bylaws Article II, Section 2.5)

Leasing & rentals

Yes, during Development and Sales Period. After Transitional Control Date, Association may amend to address rental. (Bylaws Article III, Section 3.3)

Signs & flags

Only retail type signs allowed; no signs or lettering without Developer (during Dev. Period) or Association (after) consent, except address identification. (Bylaws Article III, Sections 3.1e, 3.2a()

Maintenance

Co-owner responsible for damage to other Units, Common Elements, or Condominium Property resulting from alterations within their Unit. (Bylaws Article III, Section 3.2a: "shall)

Insurance

Each Co-owner responsible for casualty insurance for interior of Unit, personal property, Limited Common Elements they must repair, personal liability, business interruption. (Bylaws Article V, Section 5.1a)

Voting & meetings

Each Co-owner has one vote, regardless of Percentage of Value; majority defined as more than 50% of value of votes cast. (Bylaws Article VI, Sections 6.2 and 6.4)

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