Fourth Sisters

Key facts from Fourth Sisters's documents

Reflects the 1975 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (WHEREAS, Declarant is the owner of certa)

Governing law

Oregon Unit Ownership Act (ORS 91.505 to 91.675) (pursuant to the provisions of the Oregon)

Assessments & dues

Board of Directors establishes budget, assesses each unit 1/28th of common expenses; approved by majority of owners. (By-Laws Article VI, Section 1; Declarati)

Special assessments

Not explicitly named but allowed as part of common expenses; Board may assess for capital acquisitions with 2/3rds approval if over 0.5% of property valuation (1978 amendment). (1978 Amendment to Declaration, sub-secti)

Collections & liens

Unpaid assessments constitute a lien on unit, prior to all liens except tax and first mortgage; foreclosable by suit. (Declaration (I): 'All sums assessed ... )

Reserves & fees

Monthly payments to General Operation Reserve and Reserve Fund for Replacements. (By-Laws Article VI, Section 1)

Leasing & rentals

Yes; unit owner may dispose by lease, subject to Declaration, By-Laws, and rules. (Declaration (H)10.1; 1977 amendment allo)

Home business

Prohibited except for one designated office unit. (Declaration (H)2)

Insurance

Not required but owner may obtain individual insurance. (Declaration (N): 'without prejudice to t)

Use restrictions

Units shall be used only as private dwellings for owner, family, tenants, guests; except one unit may be designated office by majority vote. (Declaration (H)2; amended in 1977 to all)

Voting & meetings

One vote per unit owner; owner of record entitled to vote; multiple owners must act unanimously (Declaration (H)5: 'the owner of each Uni)

Amendments

Declaration may be amended by majority vote of Association members, effective upon recordation. By-Laws may be amended by 75% of unit owners, recorded. (Declaration (H)8; By-Laws Article VII, S)

Amenities

Heated swimming pool, recreation building with billiard room, lounge, general purpose area, sauna baths, dressing areas. (Declaration (A))

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