In the 1980’s Willamette Towers’ Bylaws and Declaration became the documents we know them as today: The governing documents of the Home Owners Association (HOA).
Prior to the 1980’s Willamette Towers was composed of rental units in what was a federal Housing and Urban Development (HUD) apartment building, built to serve a variety of sizes of housing needs. In the 1980’s, the building became eligible to become a Home Owners Association.
The Declaration and the Bylaws are the established rules for the condominium that its Board of Directors, Owners, Lenders and Mortgagees must adhere to in order to be in compliance with the HOA and Oregon Condominium Law.
The Declaration is the definitions of terms used in the Bylaws and has Exhibits which include the formulas to determine the percentage owners own of the common elements and the formula for each unit’s percentage amount to be paid to the HOA for common expenses. Excluded from the units required to pay is unit 206, due to the fact that it is owned by the HOA, and the commercial units on the ground floor, all of which contribute via the rent paid.
From the Declaration: Exhibit B shows the Percentage of Ownership in the Common Elements; Exhibit C shows the Assessment Percentage, which is the formula used to determine each owners monthly dues.
Here is the entire Declaration, which includes Exhibits B and C.
Here are the Willamette Towers Bylaws.