Alderbrook Homeowners Association, Inc.

Key facts from Alderbrook Homeowners Association, Inc.'s documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Alderbrook Homeowners Association, Inc. (Section 1.1)

Units / lots

At least 91 initial lots (Type 1 Lots 1-63, Type 2 Lots 64-91). Additional lots may be annexed. (Sections 1.19, 1.20)

Developer / declarant

Centex Homes, a Nevada general partnership (Recitals and Section 1.10)

Governing law

ORS 94.667 (Statement of Association Information) and ORS 94.630 (Board powers) (Statement of Association Information; Se)

Assessments & dues

Initial assessment per improved Lot not to exceed an amount determined by the Board, until modified as provided in the Bylaws. No specific dollar amount given. (Section 2.3)

Special assessments

Limited Assessments allowed for projects benefiting less than all Lots. Additional assessments may be levied for corrective action due to owner's willful/negligent acts. (Sections 2.7, 2.12)

Collections & liens

Unpaid assessments, together with interest, costs, and reasonable attorney's fees, are a continuing lien upon the Lot. Lien is subordinate to first mortgage liens. Association must give 60 days written notice to first mortgagee before enfor (Sections 2.2, 2.9)

Reserves & fees

Declarant shall establish a reserve fund for replacement of Common Maintenance Area components with useful life between 3 and 30 years (including exterior painting if applicable). Assessments for reserve fund begin accruing from date first (Section 2.6)

Signs & flags

For Sale: one sign, not exceeding 2 ft x 3 ft, fastened to stake in ground, not more than 3 ft above ground. For Rent: one sign, not exceeding 3 sq ft, visible from front of Unit only, displayed from within Unit, not on lawn/landscape or at (Section 9.4)

Insurance

Each Owner must obtain public liability and property damage insurance of at least $500,000 per person per occurrence for their Lot. Also fire and extended coverage casualty insurance on Unit at 100% replacement cost. Owner also responsible (Section 7.5)

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