Association of Unit Owners of Timbercrest Condominiums

Key facts from Association of Unit Owners of Timbercrest Condominiums's documents

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

Community type

Condominium (Article 1, Declaration section 1.3)

Legal name

Association of Unit Owners of Timbercrest Condominiums (Declaration section 11.2 (page 9); also )

Units / lots

35 (current), maximum 37 (if Tract A fully developed) (Declaration sections 4.2.1 and 7.3)

Management

Superior Community Management Company

Governing law

Oregon Condominium Act, ORS 100.005 et seq. (Declaration section 1)

Assessments & dues

Board of directors establishes annual budget and designates monthly assessments; assessments are common expenses apportioned based on each unit's percentage ownership (square footage). (Declaration section 4.2.3; Bylaws Articl)

Special assessments

Declaration section 17.3 prohibits capital assessments without Declarant's consent during its control period, but otherwise not specifically defined. (Declaration section 17.3 (page 15))

Collections & liens

Association has lien for unpaid assessments, but subordinate to first mortgage. Foreclosure or deed in lieu extinguishes claims for assessments accrued prior to possession (except pro rata share). (Declaration section 13.3 (page 9))

Reserves & fees

Board shall establish and maintain replacement reserve accounts as required by Oregon Condominium Act and bylaws. (Bylaws Article IV Section 3(b) (page 31))

Leasing & rentals

Allowed, but minimum lease term of 30 days. (Declaration section 13.2 (page 9): 'unit)

Signs & flags

Declarant may maintain 'For Sale'/'For Rent' signs at reasonable locations. No general restriction on owner signs, but mortgagees are exempt from sign restrictions. No other sign rules defined in extract. (Declaration sections 17.2 (page 15) and )

Maintenance

Association responsible for maintenance, repair, replacement of general and limited common elements (cost is common expense). Owner responsible for damage caused by negligence or intentional act. Owner maintains doors, door frames, windows, (Declaration sections 5.2 and 6.3 (pages )

Insurance

Not detailed in extract; Bylaws Article VIII referenced but not provided. Declaration mentions insurance in mortgagee notice provisions (section 13.1(c)). (Declaration section 13.1(c) (page 10))

Use restrictions

Each unit is to be used for residential purposes only. (Declaration section 9.1 (page 8))

Voting & meetings

One vote per unit. Majority = more than 50% of voting rights. 'Majority of owners present' = over 50% of votes present. (Declaration section 8; Bylaws Article I )

Amendments

Declaration may be amended by consent or approval of unit owners holding 75% or more of voting rights, provided no amendment reduces or eliminates mortgagee rights without prior written consent of all affected mortgagees. Also requires appr (Declaration sections 14, 14.1, 14.2, 13.)

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