Nicole Estates

Key facts from Nicole Estates's documents

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

Community type

Covenant / Planned Community

Developer / declarant

DDR Development, LLC (Declaration opening paragraph)

Governing law

Oregon Planned Community Act, ORS 94.550 to 94.783 (Recitals paragraph B)

Assessments & dues

Not fixed; set by Board based on annual budget, apportioned equally among Lots (Section 8.4 and 8.3 ('All Lots subject t)

Special assessments

Allowed for construction, replacement, unexpected repair, or one-time expenditure. If exceeds 15% of budgeted gross expenses, requires majority vote plus Class B consent (if any). Prior to turnover, requires 50% Class A vote plus Class B co (Section 8.5)

Collections & liens

Yes; assessments constitute a continuing lien on the Lot (Section 8.12). Association may foreclose or obtain money judgment (Section 9.2). (Sections 8.12 and 9.2)

Reserves & fees

Established for replacement of items with useful life 3-30 years and exterior painted surfaces. Funded by assessments included in regular Annual Assessment. Reserve study required at least annually. (Section 8.11)

Pets

Yes; a reasonable number of domestic dogs, cats or other household pets kept within a Unit and reasonably controlled. (Section 5.6)

Leasing & rentals

Yes; minimum lease term of 30 days. Lease must be written and subject to Declaration and Rules. Board may require termination if tenant violates provisions. (Section 5.13)

Home business

Limited to professional personal library, personal business records, and handling personal business telephone calls or client meetings by appointment only. Board may approve other if only normal residential activities observable outside. (Section 5.1)

Signs & flags

One 'For Sale' or 'For Rent' sign per Lot (max 24x36 inches) permitted; two signs during initial construction. Political signs permitted subject to Association regulations. Seasonal holiday lighting and decorations permissible if consistent (Section 5.5)

Use restrictions

Yes; no trade, craft, business, profession, commercial activity on any Lot without Board consent. Personal business records and client appointments by appointment only are permitted. (Section 5.1)

Voting & meetings

Class A (all Owners except Declarant): one vote per Lot. Class B (Declarant): three votes per Lot until earlier of 90% Lots sold, 7 years after first sale, or Declarant election (Section 6.3)

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