Assessments and Fees

Every Owner is, by acceptance of deed or contract, deemed to covenant to pay (i) annual assessments and (ii) special assessments. Assessments are a continuing lien on the Lot and a personal obligation of the Owner at the time the assessment fell due (Source: Declaration Article IV § 1).

Annual Assessment

• Process: The Board prepares a budget covering estimated operating costs (and may include reserves from a separately prepared capital budget) each calendar year. The Board delivers the budget and the per-Lot assessment to each owner at least 30 days prior to the end of the current calendar year. The budget takes effect unless disapproved at an Owners' meeting by a majority of Members entitled to vote. If Members disapprove, or the Board fails to determine a budget, the prior year's budget continues (Source: Declaration Article IV § 3).
• Due date: Annual assessments after the first year are due and payable on the first day of the calendar year (i.e., January 1) (Source: Declaration Article IV § 6; Collection Resolution § 1.5(b)).
• Notice: at least 30 days in advance of the due date the Board fixes the amount and gives Owners written notice. Upon demand, the Association will furnish a certificate showing payment status (Source: Declaration Article IV § 7).

Recent annual per-unit-per-month assessments

Plus an ongoing Special Repair Assessment monthly component (see below) — $5,473/year total association-wide (≈ $21.72/unit/month) in 2025 and 2026 budgets (Source: 2025 Budget acct 6930; 2026 Budget acct 6930).

See Financial Records and Budgets for full budget tables.

Special Assessments

Upon vote of the Members, the Association may levy a special assessment in addition to annual assessments for the purpose of defraying in whole or in part the cost of construction or reconstruction or expected repair or replacement of any component for which the Association is responsible under this Declaration, including necessary fixtures and personal property (Source: 2025 Declaration Article IV § 4 — broadened from the 1999 original "capital improvement upon the Common Properties" by the 2016 First Amendment).

Approval threshold: assent of two-thirds of the votes of each class of Members voting in person or by proxy at a meeting duly called for that purpose, with written notice sent to all Members at least 30 days in advance setting forth the purpose of the meeting (Source: Declaration Article IV § 5).

2018 Special Repair Assessment (active)

The 2018 Resolution approved a Repair Cost of approximately $1,134,000 for repairs to areas the Association maintains. The Repair Assessment began June 1, 2018. Owners chose one of three payment options (Source: 590 Special Repair Assessment Resolution 05.24.18):

• Option 1: One Payment of $54,000 due June 1, 2018.
• Option 2: Serial monthly assessments of approximately $475/month for 15 years (180 months) beginning June 1, 2018; amount adjusts with the Association loan's interest rate (30 days' notice of any change).
• Option 3: Initial pre-payment of at least $1,000 due June 1, 2018, followed by recalculated monthly assessments for 180 months on the same terms as Option 2.

Owners failing to elect by June 1, 2018 were defaulted to Option 2. Owners on Option 2 or 3 may prepay the remaining balance at any time without penalty (an administrative charge may apply to calculate payoff).

Approval votes: at least 2/3 of Owners (in person + proxy) approved the Special Assessment, and at least 51% additionally approved the Association obtaining a loan (Source: Special Repair Assessment Resolution Recitals).

Capitalization Contribution (New Owners)

Upon acquisition of record title to a Lot, the purchasing Owner contributes to the Association's capital an amount equal to 2 months' assessments (i.e., 1/6 of the Annual Assessment) for that Lot. This is in addition to ongoing assessments (Source: 2025 Declaration Article IV § 10).

History: The 1999 original required a flat $300 capitalization contribution upon acquisition from Declarant (Source: 1999 CC&Rs Article IV § 10). The 2025 restatement supersedes that with the 2-month formula.

Delinquency, Late Charges, Interest

• Delinquent: an assessment is delinquent if not paid within 30 days of its due date (Source: Declaration Article IV § 8.B; Collection Resolution § 1.5(c)).
• Interest: 10% per annum from the due date until paid (Source: Declaration Article IV § 8.A and § 8.D as amended; Collection Resolution § 2.1). The original 1999 text used a "Bank of America prime + 3%" formula; the 2017 Second Amendment 2A (Collection) replaced that with a flat 10% per annum (Source: 2017 Second Amendment to Declaration (Collection) § III).
• Late charge: up to 30% of the delinquent assessment by Board resolution (Source: Declaration Article IV § 8.D). The 2017 Collection Resolution sets the actual late charge at 20% (Source: Collection Resolution § 2.2).
• Other costs: management company collection charges, attorney fees, recording fees, postage, copy/service/court/filing/garnishment fees, paralegal/investigator fees — all enforceable as assessments (Source: Collection Resolution § 2.3; Declaration Article IV § 8.D).
• Acceleration: the Board may declare all remaining periodic installments due and payable immediately if unpaid 30 days past due (Source: Declaration Article IV § 8.B(1)).
• Suspension: the Association may suspend the delinquent Owner's voting rights and right to use the Common Area until paid in full, but may not deprive the Owner of access to and from the Lot (Source: Declaration Article IV § 8.B(1)).

For full procedure, see Collections and Delinquency.

Lien

The Association has a lien against each Lot for any assessment, fine, or charge from the date due. Attachment/notice/recordation/duration of the lien follows ORS 87.352 to 87.382; foreclosure follows ORS Chapter 88. The Association may bid on the Lot at foreclosure sale and may acquire/hold/lease/mortgage/convey the Lot. If an assessment is payable in installments, the full assessment is a lien from the date the first installment is due (Source: Declaration Article IV § 8.B(2)).

The assessment lien is subordinate to any first mortgage or deed of trust on the Lot. Foreclosure of the senior security extinguishes the lien only as to amounts that became liens prior to the foreclosure; the Lot remains subject to assessments thereafter (Source: Declaration Article IV § 9). See Mortgagee Rights.

No Waiver by Non-Use

No Owner may waive or otherwise escape liability for assessments by non-use of the Common Properties or by abandoning the Lot (Source: Declaration Article IV § 8.A; 2017 Second Amendment 2A (Collection) § I).

Sources

• source/2025.07.07_summitridge townhomes_amended and restated declaration.md — Article IV
• source/590 1st Amend to Dec - Special Assessment Resolution.md
• source/590 2nd Amend to Dec - Collection.md
• source/590 Collection Resolution 10.20.2017.md
• source/590 Special Repair Assessment Resolution 05.24.18.md
• source/590 Summitridge CCR's.md (superseded 1999 original)
• Budget documents (source/590 Summitridge 2022.md, source/590 Summitridge #2.md, source/590 Summitridge- Budget.md, source/Summitridge 2025 Budget.md, source/Summitridge 2026 Budget.md)