Colcord Condo

Key facts from Colcord Condo's documents

Reflects the 1980 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (unit ownership estate) (Title; Declaration §1.5 'Condominium')

Developer / declarant

Cooper Brothers Investment Co., an Oklahoma General Partnership (Declaration recitals; signature block)

Governing law

Oklahoma Unit Ownership Estate Act (Declaration recitals: 'submitted to the )

Assessments & dues

Board annually determines assessments and charges necessary for the year and prorates among owners according to Exhibit C percentages; Board may increase monthly assessments pro rata if cash requirements exceed aggregate assessments (Declaration §18.3; §18.5)

Special assessments

Permitted for capital improvements, unexpected repairs/replacement of capital improvements; requires assent of owners representing 80% or more common element interest, voting in person or by proxy at meeting called at least 10 days in advan (Declaration §18.4)

Collections & liens

Unpaid assessments constitute lien on unit prior to all liens except taxes, prior judgments, prior recorded mortgages, prior mechanics'/materialmen's liens on the unit, and mechanics'/materialmen's liens on common elements to extent chargea (Declaration §20; §21; By-Laws Art. 11 §1)

Reserves & fees

Board shall provide for reserves, sinking funds, working capital, and replacement reserves for common and limited common elements (Declaration §18.5; By-Laws Art. 4 §4.3.4)

Leasing & rentals

Yes, provided leases are subject to Declaration covenants and By-Laws and are not for transient/hotel purposes (Declaration §8)

Parking & vehicles

Vehicle parking and storage subject to rules and regulations of Association; no campers, trailers, or recreational vehicles on common/limited common elements; no large commercial vehicles within project (Declaration §8.7)

Fences

Fences, walls, and other improvements require Architectural Control Committee approval and must conform to design/appearance of surrounding structures (By-Laws Art. 13 §13.4.1)

Architectural approval

Yes; Architectural Control Committee must approve plans and specifications for any building, fence, wall, or other improvement; approval deemed granted if not acted on within 60 days (By-Laws Art. 13 §13.4; §13.4.2)

Maintenance

Association; roof/structural components are common/limited common elements (Declaration §1.7.1; §13; §14)

Insurance

Board determines deductibles from losses payable (Declaration §23.1)

Use restrictions

false; units shall be used and occupied for professional or office purposes only (Declaration §8: 'used and occupied for p)

Voting & meetings

Percentage basis; each owner's vote equals percentage assigned to owner's unit(s) in Declaration (Exhibit C) (By-Laws Art. 2 §2.2)

Amendments

Declaration: amended by owners representing 80% or more common element interest (except undivided interest in common elements requires unanimous consent); By-Laws: amended at duly constituted meeting with 75% aggregate interest and recorded (Declaration §17; By-Laws Art. 8 §8.1)

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