Abbey Terraces Owners Association

Key facts from Abbey Terraces Owners Association's documents

Community type

Covenant / Planned Community

Legal name

Abbey Terraces Owners Association

Governing law

Oregon Unit Ownership Act (Oregon Unit Ownership Law) (Section 9(a) - 'provisions of the Oregon)

Assessments & dues

$32.50 per month per unit (initial); $32.53 per month per unit mentioned in another place (Section 9(c) 'the sum of $ 32.50 per mon)

Special assessments

For emergencies: notice to owners, approval in writing by persons entitled to cast >1/2 of votes, then due after 30 days notice (Section 9(e))

Collections & liens

Association may sue for enforcement, collect costs and reasonable attorney's fees; in foreclosure suit, may require owner to pay reasonable rent and plaintiff entitled to appointment of receiver to collect rent (Article 18)

Reserves & fees

Reserve for deferred maintenance and reserve for replacement required; classifications in accounting (Section 7(b)-(c))

Use restrictions

All family units shall be utilized for residential or commercial family living only (amended: unless authorized by 60% of directors) (Section 10(a); First Amendment D)

Voting & meetings

Each unit owner entitled to vote; votes may be cast in person or by proxy; no cumulative voting for directors; plurality vote for directors; each voter may cast votes for as many nominees as vacancies (Article 2(d)-(f), Article 3(c))

Amendments

Notice of subject matter in meeting notice; approval by not less than 75% of entire Board of Directors and not less than 75% of votes of entire membership of Association; proxies may express approval in writing delivered to secretary at or (Article 20(a)-(e))

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