Oak Street Townhomes, a Condo

Key facts from Oak Street Townhomes, a Condo's documents

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

Developer / declarant

Oak Street Townhomes Condominium LLC, an Oregon limited liability company (Declaration p.1)

Governing law

Oregon Condominium Act (ORS 100.005 et seq.) (Declaration §1.1, §4, §11.2, et al.)

Collections & liens

Board may purchase units at foreclosure/judicial sales; may enter bids for amount of unpaid lien and costs (Bylaws Art. VI §2(h))

Reserves & fees

Reserve assessments required; Declarant may defer payment of accrued reserves until unit conveyance or turnover meeting, but not beyond turnover or owner control (Bylaws Art. VII §5 (referenced in §2))

Leasing & rentals

Yes, subject to covenants and restrictions in Declaration, Bylaws, and Association rules (Declaration §5.3)

Maintenance

Common elements maintained by Board/Association; limited common elements also Association responsibility except as imposed on unit owners (Declaration §6.5; Bylaws Art. VI §2(a))

Use restrictions

Units shall be occupied and used only for residential purposes for owner, family, tenant, and social guests (Declaration §5.3)

Voting & meetings

One vote per unit; joint owners may cast one vote jointly or as determined; Declarant votes for unsold units; Association votes for units it owns (Declaration §10; Bylaws Art. II §2)

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