Learn the most recent news about residential and commercial real estate within the Seattle area and Pacific Northwest. This subsection doesn’t apply to an adopted budget wherein the members of an affiliation have determined, by a majority vote at a duly referred to as assembly of the association, to offer no reserves or less reserves than required by this subsection. Please seek recommendation from the Private Loans Key Data Doc for an overview of mortgage functions that we are unable to lend for.
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four. The provisions of this paragraph do not apply to a nonresidential condominium and do not apply if the lessor is the Government of the United States or this state or any political subdivision thereof or, in the case of an underlying land lease, an individual or entity which is not the developer or instantly or indirectly owned or controlled by the developer and did not obtain, straight or indirectly, possession of the leased property from the developer.
The statement of assessment account issued by the association to a unit owner under subsection (i) of Part 18 of this Act, and the disclosure assertion issued to a potential purchaser underneath Section 22.1 of this Act, shall state the amount of the assessments and the authorized fees, if any, required by subdivisions (g)(1) and (g)(four) of Part 9 of this Act.