Summit Condos at Quail Ridge

Key facts from Summit Condos at Quail Ridge's documents

Reflects the 1982 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration of Unit Ownership Estates fo)

Legal name

Summit Condominiums

Developer / declarant

U.S. Home Corporation, a Delaware corporation (U.S. HOME CORPORATION, a Delaware corpor)

Governing law

Oklahoma Unit Ownership Estate Act, Oklahoma Statutes Annotated, Title 60, Chapter 11, Sections 501 through 530 (the 'Act')

Assessments & dues

Monthly assessments initially set per Exhibit B; thereafter determined by Board based on annual budget (Monthly assessments shall be made accord)

Special assessments

Allowed for unbudgeted expenses; requires approval of Owners representing 66-2/3% of Common Elements (Special Assessments for the purpose of d)

Collections & liens

Association has a statutory lien on each Condominium Unit for unpaid assessments; may be foreclosed by judicial sale (The Association shall have a lien on eac)

Reserves & fees

Board may establish a reserve fund; management agreement includes preparation of a five-year sinking fund reserve budget projection (Prepare five (5) year sinking fund reser)

Pets

Yes; dogs, cats and household pets allowed (Dogs, cats and household pets allowed)

Home business

Not explicitly prohibited; however, no commercial, professional, or tradesman's services are allowed without consent? The text restricts use to housing and related purposes (no part of the Property may be used for )

Signs & flags

Not explicitly mentioned, but temporary structures requiring Board approval likely include signs (No structure of a temporary character, t)

Use restrictions

Yes; each Unit shall be used for single-family residential purposes only; no part of Property may be used for purposes other than housing and related common purposes (Each Unit or any combination of Units us)

Voting & meetings

Based on percentage ownership interest in General Common Elements as set forth in Exhibit B; each Unit entitled to that percentage vote (Voting shall be according to each Owner')

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