University Commons

Key facts from University Commons's documents

Community type

Condominium

Legal name

University Commons Condominium Association

Governing law

Ohio Revised Code Chapter 5311 (Declaration Recitals B; Amendments recit)

Collections & liens

Unpaid common charges constitute a continuing lien on unit prior to all other liens except tax liens and amounts due under mortgages/trust deeds (DOC 52126 Amendment 2, modifying Declara)

Reserves & fees

Board shall maintain repair and replacement reserve adequate to repair/replace major capital items without special assessments unless unit owners with majority voting power waive requirement annually in writing (DOC 52126 Amendment 8, modifying Bylaws )

Leasing & rentals

Generally prohibited; exceptions: (1) unit occupied by parent(s) or child(ren) of owner; (2) existing lessees registered with Association within 90 days of recording of amendment (grandfathered until title transfer); (3) one-time hardship e (DOC 52127 Amendment B, new Declaration S)

Insurance

Board obtains fire/casualty and liability insurance; insurance premiums are common expense; held in separate escrow (DOC 52128 Amendment A, modifying Declara)

Voting & meetings

Election of Directors by secret ballot; cumulative voting not permitted; unit owners may cast as many votes per vacancy as they are entitled; candidates with most votes elected (DOC 52125 Bylaws Art. 2 Sec. 4(b)(1) and)

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