Alderwood

Key facts from Alderwood's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

townhome (Single Family Attached Townhomes) (Recitals, page 1)

Developer / declarant

Taylor Capital Holdings, LLC, an Oregon Limited Liability Company (page 1, Article I, Section 3)

Assessments & dues

Initial Assessment: $50.00 per month beginning first month after 13th sale (50% of homes sold) and continues until Turnover Meeting. (Article VII, Section 2)

Special assessments

May be levied by majority vote of Owners for capital improvements; requires assent of 2/3 of votes of Members voting at meeting with written notice 30 days in advance. (Article VII, Sections 3 and 4)

Reserves & fees

Required reserve account for replacement of items normally requiring replacement in more than three years. Account must be interest-bearing money market account labeled 'Reserve Account'. Funded by assessments; not refundable. (Article VII, Section 6)

Pets

Yes, with restrictions (Article V, Section 5 A)

Leasing & rentals

Yes, with written lease subject to CC&Rs; Owner remains responsible for compliance. Includes month-to-month agreements. (Article II, Section 4)

Architectural approval

Yes, for any exterior addition, change, or alteration (including fences, walls, etc.). Plans must be submitted to and approved in writing by Board of Directors. (Article V, Section 4 B)

Signs & flags

Allowed: one identification sign no larger than 3/4 sq ft; one sign not larger than 4 sq ft advertising property for sale; Declarant/Builder signs during construction/initial sale. (Article V, Section 5 I)

Maintenance

Association responsible for repair and care of roofs, roof gutters and downspouts. (Article VI, Section 2 A)

Voting & meetings

Class A: one vote per Lot owned by Owners (except Declarant). Class B: Declarant has four votes per Lot owned. Class B converts to Class A upon earlier: (i) all lots sold, (ii) ten years from recording, (iii) Declarant elects to relinquish. (Article III, Section 2)

Amendments

CC&Rs may be amended by written consent of 2/3 of then Owners; amendment must be recorded. Bylaws may be amended by 2/3 majority vote at annual or special meeting with prior notice. (Article IX, Sections 1, 8; Bylaws Articl)

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