Eldorado Estates

Key facts from Eldorado Estates's documents

Community type

Condominium (Title; "DECLARATION OF CONDOMINIUM OWNER)

Legal name

Eldorado Estates Property Owners Association, Inc.

Units / lots

190 (Inferred from 190 lots described as cond)

Governing law

Ohio Revised Code Chapter 5311 (Ohio Condominium Act); specifically Section 5311.05(E)(1)(c) (Recital B: "Ohio Revised Code Section 53)

Collections & liens

A certificate of continuing lien must contain a description of the unit, the name of the record owner, and the amount of the unpaid assessments, and must be signed by the president or other designated chief officer of the Association. (Amendment (2), modifying Declaration Art)

Insurance

The Association shall at all times maintain hazard insurance, liability insurance, flood insurance, and fidelity insurance coverage conforming with the requirements then governing the making, purchase, guaranty, or insurance of first mortga (New Declaration Article VII, Section 11)

Voting & meetings

No action for which Eligible Mortgagees are entitled to notice under Article XIII, Section 1(a) or (b) may be taken without the consent of Eligible Mortgagees of Units to which at least 51% of the votes of mortgaged Units appertain. (New Declaration Article XIII, Section 2)

Amendments

Without an Owner vote, the Board may amend the Declaration to meet institutional mortgagee/guarantor/insurer/FNMA/FHLMC/FHA/VA requirements; meet insurance underwriter requirements; bring the Declaration into compliance with Ohio Condominiu (Amendment (6), new Declaration Article X)

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