River's Edge Village Ph X

Key facts from River's Edge Village Ph X's documents

Reflects the 1997 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

River's Edge Homeowners Association, Inc. (later known as Upper River's Edge Owners Association, Inc.) (Article I Section 3; Notices of Homeowne)

Developer / declarant

The Riverhouse Partnership, an Oregon partnership (Preamble (page 1))

Governing law

Oregon Planned Community Act, ORS 94.630 (referenced in Declaration) (Article III Section 3(b); Article IX Sec)

Assessments & dues

Not fixed in Declaration; set annually by Board based on budget, subject to disapproval by majority of Owners. (Article X Section 3)

Special assessments

Board may levy up to $500 per unit per year without approval. Any amount exceeding $500 per unit requires majority of Class A members. (Article X Section 4)

Collections & liens

All assessments, late charges, interest, costs, attorney fees constitute a lien on the unit. Lien is superior except to ad valorem taxes and first mortgages. Association can foreclose 60 days after delinquency. Lien is subordinate to first (Article X Sections 5, 6, 8)

Reserves & fees

Capital budget required annually; Board sets required capital contribution for replacement of assets. Contribution included in assessments. (Article X Section 7)

Signs & flags

Declarant may maintain signs for construction and sale (Article XIII Section 5). No general sign restrictions; presumably covered by rules. (Article XIII Section 5)

Voting & meetings

Two classes: Class A (all owners except Declarant) one vote per residential lot (or per 10 living units for multi-family). Class B (Declarant) three times the votes per lot owned. Class B converts to Class A upon sale of 75% of lots in fina (Article III Section 2)

Amendments

Declarant may unilaterally amend to comply with law, enable title insurance, meet institutional lender requirements, or (during Class B existence) for any purpose not materially adversely affecting Owners. Otherwise, amendment requires majo (Article XIII 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.