North Bay Condominium Owners Association, Inc.

Key facts from North Bay Condominium Owners Association, Inc.'s documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1: CONDOMINIUM: NORTH BAY CONDOMINI)

Legal name

North Bay Condominium Owners Association, Inc.

Developer / declarant

TAH Enterprises

Governing law

Oregon Condominium Act, ORS 100.005 et seq. (Article 1.1: "Act" shall mean the Oregon)

Assessments & dues

Based on index numbers (1.0, 1.3, 1.6, 2.0) per Exhibit C; each unit class assigned a percentage of total common expenses; residential-only expenses allocated separately per Exhibit E (Article 10.6: The expenses and reserves )

Collections & liens

Association may bring action to foreclose a lien for noncompliance (Article 16.4: relief may include... an a)

Reserves & fees

Reserves for future expenses included in assessments; reserve study update is an expense (Article 10.6: Expenses and reserves for )

Maintenance

Association responsible (as part of Common Elements) (Article 4.2(b): perimeter walls and roof)

Use restrictions

Each residential Unit shall be used for residential purposes; home offices allowed subject to Bylaws (Article 8.1: Each residential Unit shall)

Voting & meetings

One vote per Unit; Declarant has two votes per Unit before Turnover Meeting (Article 7: Owner of each Unit shall be e)

Amendments

Requires approval of Owners of at least 75% of existing Units; certain amendments require Mortgagee consent (at least 51% of votes of mortgaged Units); Declarant consent needed if Declarant owns >1 Unit until 5 years after first Unit convey (Article 13.1: may be amended if approved)

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