Hudson Avenue Condominiums

Key facts from Hudson Avenue Condominiums's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium established under the Oklahoma Unit Ownership Estate Act (PAGE 5)

Legal name

The Hudson Avenue Condominiums Owners' Association, Inc., an Oklahoma not-for-profit corporation (PAGE 5; Exhibit D PAGE 40)

Units / lots

2 (Unit #1 and Unit #2) (Declaration 2.1; Exhibit F PAGE 56)

Developer / declarant

Robert C. Q. Lewis, 711 N. Hudson Ave., Oklahoma City, OK 73102 (PAGE 5; PAGE 27)

Governing law

Oklahoma Unit Ownership Estate Act, 60 O.S. (2001), Section 501, et seq. (PAGE 5)

Assessments & dues

Board adopts an annual budget of anticipated Common Expenses; each Owner's General Assessment share is based on Allocated Interests and invoiced to the Owner (Declaration 6.1 PAGE 18)

Special assessments

Association may levy Special Assessments for non-recurring Common Expenses and administration, approved by Majority in Interest of the Board of Directors (Declaration 6.2 PAGE 19)

Collections & liens

Unpaid assessments, late charges, fines, interest and attorneys' fees constitute a lien from the due date; lien notice recorded in Oklahoma County; mortgagee may pay and cure; Association may enforce by suit, foreclosure or receiver; lien i (Declaration 6.4-6.7 PAGE 19-20; Bylaws 4)

Reserves & fees

Association shall establish and maintain an adequate reserve fund for periodic maintenance, repair and replacement of Common Elements, funded through the General Assessment (Declaration 6.1 PAGE 18; Declaration 5.1)

Leasing & rentals

Yes, but after Declarant no longer owns both Units, any lease requires prior written approval of a Majority in Interest of the Board of Directors, which may be granted or withheld in its sole discretion; lease extensions also require approv (Declaration 3.1 PAGE 7-8)

Parking & vehicles

Each Owner is entitled to at least one designated parking space; Association regulates private parking-area usage; Owners, occupants and invitees may not park in spaces designated for another Unit (Declaration 3.3(c) PAGE 8-9)

Architectural approval

Prior written consent of the Association is required for any Unit alteration affecting structural soundness, systems serving more than one Owner, warranties, or the exterior appearance of the Building or Property; work must comply with Asso (Declaration 5.2 PAGE 11-12)

Maintenance

Roof is subject to a Roof Easement and is part of the General Common Elements maintained by the Association (Declaration 5.1(b) PAGE 11; Exhibit A 'R)

Insurance

Not to exceed $5,000 (Declaration 5.6 PAGE 15)

Use restrictions

Units may be leased only for residential purposes (Declaration 3.1 PAGE 8)

Voting & meetings

Each Unit Owner votes through one Board Member entitled to vote 100% of the Allocated Interest for that Unit; Owner matters require Majority in Interest (>50% of Allocated Interests) (Declaration 4.1, 4.2 PAGE 9; Exhibit A ')

Amendments

Amendments require affirmative vote of at least 75% of Allocated Interests (both Owners with two Units); changes to Allocated Interests require 100% approval; obsolescence/renewal/sale determinations require 90%; amendments materially limit (Declaration 10.2, 10.3 PAGE 25-26)

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