Monticello (MO)

Key facts from Monticello (MO)'s documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

MONTICELLO PROPERTY OWNERS ASSOCIATION, INC.

Units / lots

32 lots (Lots 1-32, plus Tracts A-C as Common Areas) (Section 7.16, Page 15: "Monticello First)

Developer / declarant

SILVERSTONE DEVELOPMENT, LLC

Governing law

Missouri Nonprofit Corporation Law (Nonprofit Corporation Act) (Section 1.1, Page 3; Article IV, Page 6)

Assessments & dues

Determined annually by Board based on Estimated Cash Requirement (Section 6.2, Page 8)

Special assessments

Requires 2/3 vote of Class A membership (in person or by proxy) and Declarant consent during Development Period. (Section 6.3, Page 9)

Collections & liens

Unpaid assessments become a lien on the Lot, prior to all other liens except first deeds of trust, taxes; foreclosable like a mortgage (Sections 443.190-443.440 V.A.M.S.) (Sections 6.9, 6.10, Pages 9-10)

Reserves & fees

Board may build up and maintain a reasonable reserve for contingencies and replacements (Section 6.5, Page 9)

Voting & meetings

Two classes: Class A (all Owners except Declarant) - one vote per Lot; Class B (Declarant) - three votes per Lot, converts to Class A after Development Period (Section 4.3, Page 6)

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