River Terrace East Homeowners Association

Key facts from River Terrace East Homeowners Association's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (River Terrace East Condominium), part of River Terrace East planned community governed by a separate HOA (River Terrace East Homeowners Association) (Section 3; correction amendment recitals)

Units / lots

141 (maximum, as corrected) (Correction Amendment, Section 1: 'maximu)

Governing law

Oregon Condominium Act (ORS 100.005-100.990) (Recitals and Section 1.1.1)

Assessments & dues

Allocated in proportion to each Owner's interest in the Common Elements (ratio of unit area to total area) (Section 5, Section 7.1.1)

Collections & liens

Association has a lien on each Unit for unpaid assessments, interest, costs, and attorneys' fees; may foreclose lien; lien subordinate to first mortgage except as provided by ORS 100.450(7) (Section 7.3, 7.4, 7.5.1)

Reserves & fees

Reserve assessments required under Section 5.2 of the Bylaws; commence upon first sale (subject to Declarant deferral for units owned by Declarant) (Section 7.1.2)

Maintenance

Association (part of General Common Elements) (Section 5.2 (roofs included in General C)

Insurance

Association maintains property insurance on Common Elements (casualty coverage) (Section 21.1)

Use restrictions

Units shall be used and occupied for residential use (Section 9)

Voting & meetings

One vote per Unit, exercised by the Owner of the Unit (Section 8)

Amendments

Material Amendments require approval by Owners (majority? not specified) and consent of first Mortgagees; also may require Mortgage Insurer/Guarantor consent. Record amendment. (Section 24)

Amenities

Clubhouse (lobby, offices, multi-purpose room, corridor), outdoor pool, covered picnic area, landscaping, open space, monumentation, common trash enclosures, mailboxes (Section 5.6, 5.7)

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