Mount Vernon Village Home Owners Association

Key facts from Mount Vernon Village Home Owners Association's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Class II Planned Community (subject to Oregon Planned Community Act, ORS 94.550 to 94.783) (Recital D)

Legal name

Mount Vernon Village Home Owners Association (Article I (Name and Location))

Governing law

Oregon Planned Community Act (ORS 94.550 to 94.783) and Oregon Nonprofit Corporation Act (ORS chapter 65) (Section 2.1 and 2.9)

Assessments & dues

Board fixes amount of annual Assessment at least 30 days in advance of each annual assessment period (January 1 through December 31) (Section 7.2(c)(1)-(2))

Special assessments

Not explicitly defined; references Assessment for operating expenses and reserves, but special assessments likely per Declaration

Reserves & fees

Association shall establish reserve account for major maintenance, repair, and replacement of Common Area items with useful life 3-30 years; funded by assessments; Board conducts annual reserve study (Section 13.2)

Insurance

Owners must obtain property insurance for fixtures, additions, windows, doors, etc.; comprehensive liability with minimum combined limit of $100,000 per occurrence; tenant homeowner insurance required (Section 12.4)

Voting & meetings

Each Lot entitled to one vote, cast by the Member (record Owner) (Section 3.3)

Amendments

Amendments may be proposed by majority of Board or by Owners holding 30% or more of total votes; approval requires majority of Lots vote; must be certified and recorded (Article XV (15.1, 15.2, 15.3))

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