Monterey Mews Condominium Association, Inc.

Key facts from Monterey Mews Condominium Association, Inc.'s documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (submits the Real Property to the condomi)

Legal name

Monterey Mews Condominium Association

Units / lots

initial 5; maximum 32 after annexation (Section 4: five Units initially created;)

Developer / declarant

Monterey Mews, LLC

Governing law

ORS 100.005 et seq. (Oregon Condominium Act) (Section 1: terms shall have the meaning )

Assessments & dues

Assessments for common expenses are apportioned equally among Units based on equal undivided fractional interest. Certain services may be billed per-Unit. (Section 12.6; Section 4)

Special assessments

Common expenses may include special assessments if needed; no specific cap mentioned for special assessments. (Section 12.6: liability for common expen)

Collections & liens

Association has lien for unpaid assessments; lien is subordinate to any first mortgage; foreclosure permitted. (Section 14.3: The lien of the Associatio)

Reserves & fees

Replacement reserves are funded as a common expense. (Section 12.6: liability for common expen)

Leasing & rentals

Not prohibited; residential use permitted for tenants. However, amendments that impose restrictions on leasing require mortgagee consent. (Section 10.1: each Unit shall be primari)

Signs & flags

Declarant may maintain a reasonable number of 'For Sale' signs at reasonable locations on the Condominium property. No other sign rule mentioned. (Section 19.2)

Maintenance

Association shall repair and replace all roofs as a common expense. (Section 8.1: the Association, as a commo)

Insurance

Owner responsible for any deductible under Association's insurance. (Section 22.1: each owner shall be respon)

Use restrictions

Each Unit shall be primarily occupied and used for residential purposes by its owners, tenants, visitors, and guests and for no other purposes. (Section 10.1)

Voting & meetings

One vote per Unit (Section 9.1: Each Unit holds one vote)

Amendments

Requires approval of 75% of voting rights. Declarant's written consent needed until 75% of Units sold. Certain amendments (e.g., reallocation of interests, boundary changes) require consent of affected owners and mortgagees. Amendments to c (Section 15)

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