199 East Pearl Condominium

Key facts from 199 East Pearl Condominium's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

199 East Pearl Condominium

Units / lots

13 (4 commercial units 101-104; 9 residential units 100, 201-206, 301-302) (Sections 3.4 and 3.19)

Developer / declarant

PEARL WILLOW INVESTORS LLC, a Wyoming limited liability company (Preamble)

Governing law

Wyoming Condominium Ownership Act, Wyoming statute § 34-20-101 et. seq. (Preamble)

Assessments & dues

Board prepares budget at least 60 days before fiscal year and levies periodic assessments based on Common Expenses (Section 11.1)

Special assessments

Association may levy once per quarter a special assessment payable over any period for construction, reconstruction, unexpected repair or replacement, or other expenses (Section 11.7)

Collections & liens

Lien for assessments recorded with notice; superior to all except valid tax liens and first mortgages; for Deed Restricted Units, Teton County Housing Authority has 45-day right to cure before foreclosure (Section 11.9)

Reserves & fees

Board shall prepare and review at least annually a reserve budget for capital expenses (Section 11.2)

Pets

Only common domestic household pets. No animals not considered common domestic household pets may be kept. Association may require removal of nuisance pets. (Section 6.18)

Leasing & rentals

Residential Units may be used for residential rental purposes. (Section 3.19)

Parking & vehicles

Park only in designated 'Tenant/Residential Parking' or 'Commercial Parking' areas. Parking on above-ground lot to west of Building reserved for Commercial Units only, not for Residential Owners. (Section 6.16)

Signs & flags

Declarant reserves the right to maintain signs advertising the Condominium. (Section 5.2(iii))

Maintenance

Association maintains General Common Elements; Owners maintain interior surfaces and heating/air conditioning/water heater exclusively serving their Unit; Owners of Exclusive Limited Common Elements (terraces) keep them clean. (Section 10.3 and Section 6.8)

Insurance

Casualty insurance for full insurable replacement value of Units and General Common Elements (fire, extended coverage, flood, earthquake); Public liability insurance with combined single limit not less than $5,000,000; Workers compensation; (Section 12.1)

Use restrictions

Residential Units shall be occupied and used by Unit Owners and Occupants for residential and residential rental purposes only (Section 3.19)

Voting & meetings

Each Owner votes in the same percentages as shown on Exhibit A for ownership of General Common Elements (Section 9.2)

Amendments

Not detailed in this document except for annexation. Declaration may be amended? (Implied by existence of Bylaws amendment, but declaration amendment procedure not stated.) (Article XVI (only Section 16.1 Revocatio)

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