Title 1350
Headings 1350.5
Documents Delivery 1350.7
Definitions used in the Act 1351
When this Article Applies 1352
Deletion of Prohibited Language 1352.5
Airport Influence Area 1353
Display of Flag 1353.5
Signs and Banners 1353.6
Roofs 1353.7
Enforcement of CC&Rs and Rules 1354
Amendment of CC&Rs 1355
Deletion of Developer Language 1355.5
Amendment of CC&Rs 1356
Term of CC&Rs 1357
Definitions. Operating Rules 1357.100
Enforceability of Operating Rules 1357.110
Which Rules must comply 1357.120
Notice of Rule Chanages 1357.130
Members’ Request of Special Meeting 1357.140
When Rules Restriction apply 1357.150
Severance of Membership. Partition 1358
Partition of Common Area. Partition Sale 1359
Modifications to Common Area 1360
Pets 1360.5
Easements 1361
Access to Lot or Unit 1361.5
Tenancy in Common 1362
Elections and Meetings 1363.03
Election Campaign Funds 1363.04
Management of the Common Interest Development 1363
Possible Eduction 1363.001
Management Disclosure/Information 1363.1
Management Funds 1363.2
Articles of Incorporation Statements 1363.5
Identification of CIDs 1363.6
Open Meetings 1363.05
Association Transfer of Title or Easements 1363.07
Civil Action for Elections/Meetings Violations 1363.09
Internal Dispute Resolution 1363.810
Reasonable Procedures 1363.820
Procedure Requirements 1363.830
Failure to Provide Resolution Procedures 1363.840
Notice of Dispute Procedures 1363.850
Repair, Maintenance and Replacement Responsibility 1364
Financial Information and Disclosure 1365
Assessment Collection Disclosures 1365.1
Inspection of Association's Documents and Records 1365.2
Assessment and Reserve Funding Disclosure Summary 1365.2.5
Community Service Organizations 1365.3
Review of Financial Documents by the Board. Reserves 1365.5
Limited Liablity for Volunteers 1365.7
Limited Liability for Owners if Insured 1365.9
Regular and Special Assessments 1366
No Excess Assessments 1366.1
Recorded Statement To Facilitate Collection of Assessments 1366.2
Liens for Delinquent Assessments. Enforcement of Liens 1367
Assessment Collection Procedures. Notice of Lien 1367.1
Limits on Collection of Assessments 1367.4
Assessment Lien Error 1367.5
Documents to Purchaser 1368
Restrictions on Marketability 1368.1
Standing of an Association 1368.3
Recovery of Damages 1368.4
Civil Action against Developer 1368.5
Mechanic’s Lien 1369
Definitions. Alternative Dispute Resolution 1369.510
Alternative Dispute Resolution before filing Suit 1369.520
Service of Request for Resolution 1369.530
Time Limit for Request for Resolution 1369.540
Tolling of Statute of Limitations 1369.550
Certificate of Compliance with Statute 1369.560
Alternative Dispute Resolution after Suit is Filed 1369.570
Award of Attorney Fees and Costs 1369.580
Annual Summary of Alternative Dispute Resolution 1369.590
Liberal Construction of CC&Rs 1370
Boundaries of Condominium Units 1371
Local Zoning 1372
Provisions not applying to Commercial and Industrial developments 1373
Act does not Apply if there is no Common Area 1374
Construction Defect Litigation 1375
Construction Defect—Civil Action 1375.05
. Construction Defect, Settlement with Developer 1375.1
Satellite Antennas 1376
Architectural Rules 1378

The Davis-Stirling Act
1365.2.5

(a) The disclosures required by this article in regard to an association or a property shall be summarized on the following form:

 

Assessment and Reserve Funding Disclosure Summary

 

(1) The current assessment per unit is $__________ per _________.

Note: If assessments vary by the size or type of unit, the assessment applicable to this unit may be found on page _______ of the attached report.

 

(2) Additional assessments that have already been scheduled to be imposed or charged, regardless of the purpose, if they have been approved by the board and/or members:

 

_____________________________________________________________________:

 

Date assessment is:_______ Amount per unit per_______ Purpose of the assessment ______ due:_________: month (If assessments are variable, see note immediately below): :

--:

: : Total: :

:

---------------------------------------------------------------------

 

Note: If assessments vary by the size or type of unit, the assessment applicable to this unit may be found on page ____ of the attached report.

 

(3) Based upon the most recent reserve study and other information available to the board of directors, will currently projected reserve account balances be sufficient at the end of each year to meet the association's obligation for repair and/or replacement of major components during the next 30 years? Yes _____ No _____

 

(4) If the answer to #3 is no, what additional assessments or other contributions to reserves would be necessary to ensure that sufficient reserve funds will be available each year during the next 30 years?

____________________________________________________

: Approximate date assessment___________________ Amount per unit________________

 

__________will be due:_________________per month:__________:

:------------------------------:--------------------:

:------------------------------:--------------------:

:------------------------------:--------------------:

:------------------------------:--------------------:

:------------------------------:--------------------:

: : Total: :

:______________________________:____________________:

 

(5) The following major components, which are included in the Reserve study, are NOT included in the existing reserve funding:

 

 

____________________________________________________________________

:Major component_____________Useful remaining _______________ Reason this major component :

 

_____________life in years _________________was not included: :

 

:----------------:-------------------:-----------------------------:

 

:----------------:-------------------:-----------------------------:

 

:----------------:-------------------:-----------------------------:

 

:----------------:-------------------:-----------------------------:

 

:________________:___________________:_____________________________:

 

 

(6) As of the last reserve study or update, the current balance in the reserve fund is $____. Based on the method of calculation in paragraph (4) of subdivision (b) of Section 1365.2.5, the required amount in the reserve fund is $______________, and if an alternate, but generally accepted, method of calculation is also used, the required

amount is $__________________. (See attached explanation)

 

NOTE: The financial representations set forth in this summary are based on the best estimates of the preparer at that time. The estimates are subject to change.

(b) For the purposes of preparing a summary pursuant to this section:

(1) "Estimated remaining useful life" means the time reasonably calculated to remain before a major component will require replacement.

(2) "Major component" has the meaning used in Section 1365.5. Components with an estimated remaining useful life of more than 30 years may be included in a study as a capital asset or disregarded from the reserve calculation, so long as the decision is revealed in the reserve study report and reported in the Assessment and Reserve

Funding Disclosure Summary.

(3) The form set out in subdivision (a) shall accompany each pro

forma operating budget or summary thereof that is delivered pursuant to this article. The form may be supplemented or modified to clarify the information delivered, so long as the minimum information set out in subdivision (a) is provided.

(4) For the purpose of the report and summary, the amount of reserves needed to be accumulated for a component at a given time shall be computed as the current cost of replacement or repair multiplied by the number of years the component has been in service divided by the useful life of the component. This shall not be construed to require the board to fund reserves in accordance with this calculation.
 
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