Aldridge Town Homes

Key facts from Aldridge Town Homes's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Aldridge Townhomes, A Condominium

Assessments & dues

Board adopts proposed budget; summary provided to Owners; meeting held 14-60 days later; if not rejected by majority of votes present, budget deemed ratified. (Art 9.3.3, 13.3)

Special assessments

Allowed; may be levied for unanticipated expenses, capital improvements, etc. Procedure same as regular budget. (Art 13.4, 13.5)

Collections & liens

Assessment is a lien on Unit; may be foreclosed. Lien has priority except for first mortgages recorded before delinquency, taxes. Power of sale granted. (Art 13.1, 13.11, 13.12)

Reserves & fees

Association may establish reserve fund for repair/replacement of Common Improvements. (Art 13.6)

Pets

Yes, common household pets (dogs, cats, birds, fish, rabbits) strictly as household pets. (Art 7.10)

Leasing & rentals

Prohibited by minimum six-month term requirement. (Art 7.4)

Maintenance

Owner: interior of Unit, equipment, appliances, all interior maintenance, repair, decoration; plus Limited Common Elements A-2/B-2 maintenance (gardening, etc.). Association: General Common Elements, Common Improvements, Limited Common Area (Art 7.3, 7.4, 10.2, 11.5, 11.6)

Insurance

Property insurance and commercial general liability insurance required. Not detailed. (Art 14.2, 14.3 (headings))

Use restrictions

Prohibited; no obnoxious or offensive activity; no condition that unreasonably interferes with other Owners' enjoyment. (Art 7.7)

Voting & meetings

One vote per Unit, except Declarant gets two votes per Unit owned. Multiple Owners must agree on vote. Proxies allowed. (Art 8.3.1, 8.3.2, 8.3.3)

Amendments

Amendments to Declaration require approval of Owners of Units to which at least 67% of the votes are allocated, and all mortgagees holding first mortgages on Units? Not fully explicit. Declarant may amend to comply with FNMA/FHA requirement (Art 22.10, 3.5)

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