Cinco Grande Condominium Association

Key facts from Cinco Grande Condominium Association's documents

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

Community type

Condominium Association (Article 1)

Legal name

Cinco Grande Condominium Association

Governing law

New Mexico Nonprofit Corporation Act (53-8-1 to 53-8-99 NMSA 1978) (Certificate of Incorporation)

Assessments & dues

Board adopts annual budget; sent to Unit Owners; deemed ratified unless majority rejects; assessed per Common Expense Liability (Bylaws Section 5.1)

Special assessments

Allowed if reserves inadequate, upon ratification of adjusted budget (Bylaws Section 5.1(d))

Collections & liens

Assessments are a lien against Unit; collection action after 10 days unpaid (Bylaws Sections 5.1(c), 5.3)

Reserves & fees

Board shall build and maintain reasonable reserves for working capital, operations, contingencies, replacements (Bylaws Section 5.1(d))

Pets

Yes, small orderly domestic pets (dogs, cats, fish, caged birds) with approval (Bylaws Section 5.8(a)(8))

Leasing & rentals

Yes, entire Unit may be leased; no portion of Unit may be leased (Bylaws Section 5.8(a)(6))

Parking & vehicles

Board may regulate or assign parking on Common Elements (Bylaws Section 5.8(a)(4))

Architectural approval

Board approval required for structural additions, alterations, improvements; exterior painting (Bylaws Section 5.7)

Signs & flags

No signs without Board approval, except Declarant promotional signs and mortgagee signs (Bylaws Section 5.8(a)(9))

Maintenance

Board: Common Elements, Limited Common Elements (except normal maintenance by owner); Owner: Unit interior, patio/terrace/balcony (Bylaws Section 5.5)

Use restrictions

Units used for housing and related common purposes; Board may permit temporary non-residential uses (Bylaws Section 5.8(a)(1))

Voting & meetings

Each Unit Owner entitled to vote per voting interest assigned in Declaration; if multiple owners, designated person casts vote; no votes for units owned by Association (Bylaws Section 2.10)

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