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In accordance with
Colorado Revised Statute 38-33.3-209.7, once each year the Association shall educate Unit Owners about their rights and
responsibilities, at no cost to the Unit Owners.
This page of the 1349 Race Condo Association web site constitutes the method of such education for
year 2009.
Membership Education 2009 The topic for the membership Education
comes from the review the Board recently completed on the Building Insurance Policy. The building is now insured for
$767,133. This advisement is only about the insurance on the building, and not other
parts of the policy.
The board would like to advise owners to talk with their insurance agents to insure
that they are properly covered. The HOA covers the building itself, but anything inside the units is the responsibility
of the owner. Owners are also responsible for all content in their units, and Unit-related liability coverage.
Renters are also responsible for their contents through a renter’s policy. Please make sure that you
are adequately covered.
Insurance Claims - It is the policy of
1349 Race Street Condo Association to make Owner’s aware that under Colorado Revised Statute10-4-110.8, they may file
a claim against the 1349 Race Street Condo Association insurance policy to the same extent, and with the same effect, as if
the Unit Owner were an additional named insured.
Disclosures by Unit Sellers -
In accordance with Colorado Revised Stature 38-35.7-102, it is the policy the 1349 Race Street Condo
Association to educate its Unit Owners regarding disclosures they must make when selling their Units. Among those requirements, a 1349 Race
Street Condo Association Unit Seller shall cause to be furnished to the Buyer, at the Seller’s expense, all documents
required by Section 38-33.3-223, at least 10 days before closing in the case of sales by Owners, or within the time limits
set forth in Section 38-33.3-223 in the case of a brokered transaction.
See Policy #17 in "Governing Policies" under "Governing Documents,"
for a sample of the form a Seller may use to satisfy this requirement.
Unit Owners' Responsibility to Read and Know -
All of the Association's governing documents, recent Board
and Membership meeting Minutes, Association Financial Information, and much more information about the Association is posted
on this web site.
It is the Unit Owner's
responsibility to read the information posted on this site, to know their rights and responsibilities.
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