Beaver Lake Commons Condominium

Key facts from Beaver Lake Commons Condominium's documents

Community type

Condominium (Throughout document, e.g., 'Condominium )

Developer / declarant

Charles Tyree and Dominic Percurato (Recitals A: 'CHARLES TYREE and DOMINIC P)

Governing law

Chapter 5311 of the Revised Code of Ohio (Preamble: 'Pursuant to the provisions of)

Assessments & dues

Board estimates annual operating expenses, prorates among Units based on undivided interests (equal per Unit). (Article XV, Section 3.a: 'the Board shal)

Special assessments

Permitted for capital improvements (with vote if >5% of budget) and special individual Unit assessments for repairs etc. due to owner fault. (Article XV, Sections 3.b and 3.c)

Collections & liens

Assessments are a lien on the Unit; enforcement includes foreclosure. Subordinate to first mortgages. (Article XV, Sections 5 and 6)

Reserves & fees

Required for major repairs and replacements; to be maintained as part of budget. (Article IX, Section 1: 'The Association )

Pets

Yes, household domestic pets not bred or maintained for commercial purposes, subject to Board rules. (Article III, Section 2.l: 'household dom)

Leasing & rentals

Yes, but renting for transient or hotel purposes (less than 7 days) prohibited. (Article III, Section 2.g: 'No Unit or pa)

Architectural approval

Yes, for any building, fence, wall, sign, other structure, and any exterior addition, change or alteration. (Article III, Section 2.o: 'No building, )

Home business

Permitted if does not involve customers, employees, licensees or invitees coming to the Unit. (Article III, Section 2.a, proviso (i): ')

Signs & flags

Only limited signs allowed: (a) Common Area signs approved by Board; (b) one professionally prepared sign interior side of window ≤9 sq ft for sale/rent; (c) Declarant signs during sales period. (Article III, Section 2.h: 'No sign of an)

Maintenance

Association (part of exterior portions of buildings). (Article IX, Section 1: 'the structural p)

Insurance

Lesser of $10,000 or 1% of policy face amount. (Article XI, Section 1(f): 'have a deduct)

Use restrictions

Yes, except incidental uses, home office without customers, Declarant models, and Association use. (Article III, Section 2.a: 'no Unit shall)

Voting & meetings

Each Unit owner entitled to one vote per Unit owned; fractional for fractional ownership (Article VII, Section 3: 'Each Unit owner)

Amendments

Article XIX: Power to amend and method to amend; specifics not provided in this text. (Article XIX (index only); text not inclu)

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