Paulina Peaks Owners Association, Inc.

Key facts from Paulina Peaks Owners Association, Inc.'s documents

Community type

Covenant / Planned Community

Legal name

Paulina Peaks Owners Association, Inc.

Developer / declarant

DOUBLE B DEVELOPMENT, INC.

Governing law

ORS 94.625 and 94.630 (Bylaws Article 2.1)

Assessments & dues

Set by Board; not fixed (Article X Section 3 (budget process))

Special assessments

Board may impose up to $500 per Lot per fiscal year without vote; above that requires Majority of Class A members (Article X Section 4)

Collections & liens

Assessment lien on Lot, superior except for ad valorem taxes and first mortgage liens. Foreclosure may be instituted after 60 days delinquency. (Article X Sections 5, 6)

Reserves & fees

Capital budget prepared annually; capital contribution included in assessments to meet projected needs (Article X Section 7)

Voting & meetings

Two classes: Class A (all owners except Declarant) with one vote per Lot; Class B (Declarant) with three votes per Lot owned. Class B converts to Class A when 75% of Lots in final phase sold or Declarant elects. (Article III Section 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.