Laurel Commons

Key facts from Laurel Commons's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Laurel Commons Plan (Section 1.3.2(a))

Units / lots

2 (Unit A and Unit B) (Exhibit C)

Developer / declarant

Monroe Dale Personett and Karin M. Personett

Governing law

Pennsylvania Uniform Condominium Act, 68 PA. C.S. §3101 et seq. (Section 1.1)

Special assessments

Executive Board may levy special assessments if cash insufficient for actual Common Expenses. (Section 8.2)

Reserves & fees

Each annual budget must include an amount reasonably sufficient as a reserve for replacements, contingencies, capital expenditures, working capital, and deferred maintenance. (Section 8.7)

Leasing & rentals

Yes, for commercial purposes only; lease copy to be furnished to Executive Board within 10 days (Section 7.1 (Article VII))

Voting & meetings

Each Unit is allocated a single vote in all matters to be determined by the Association, irrespective of Percentage Interest (Section 2.2)

Amendments

Declaration may be amended per §3219 of Act. Material amendments require 67% of Owners and 51% of Permitted Mortgagees for specified matters; termination requires 67% of Owners and 67% of Permitted Mortgagees. (Section 4.2(a) and (b))

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