Condominium Documents Summarized

The M-72 Recreational Storage Condominium Association operates under the authority of the Michigan Condominium Act of 1978 as amended. This page summarizes some of the more important aspects of the condominium documents and Association policies; however there is no substitute for a detailed reading of the source which is provided under the "Legal & Policy" menu above. The Condominium Association Documents and policies are intended to protect, preserve and enhance the investment made by the association of co-owners. In addition, they encourage collegiality and cooperation within the association. Address all correspondence to: M-72 Recreational Storage Condominium Association   P.O. Box 6611 Traverse City, MI 49696, or email: m-72@m-72storage.org.

Common Element and Limited Element explained:

Interior space of the condominium unit is controlled by the co-owner. This is described in the condominium documents as the “Limited Common Element”. Everything else, (overall building structure, structural interior walls, electrical wiring, doors, exterior walls, land, septic and water systems etc.) is known as “The Common Element” and is owned and controlled by the association of co-owners. Terms and definitions associated with condominium ownership can be found in the Master Deed.

Permitted use and Restrictions:

a.  Examples of authorized use of condominium units include: storage of personal property such as boats, trailers, cars and other recreational vehicles and other uses as approved by the Association and Long Lake Township. Contact a board member for more details.

b. Before considering any modifications to the interior of a unit, contact an Association board member for guidance.  Electrical, plumbing or mechanical system modifications and any construction within the unit must be first approved by the Association Board of Directors, Long Lake Township and Grand Traverse County zoning/permitting officials. Permit approval will usually require the services of a licensed architect and/or certified building trades professional. 

c.   Any activity conducted within a storage unit must comply with Long Lake Township zoning ordinances, GT County Building Codes, Association by-laws, and local fire and safety regulations. 

d. Retail or other commercial activities are not allowed in the condominium. No use may increase traffic in the Condominium or cause additional wear and tear on any common elements. All use must be conducted entirely within the enclosed unit and which produces no odor, fumes, dust, vibration or other similar impacts detectable by the unaided senses at any point outside the Unit.

d.  Residing in any unit is not allowed. Parking a vehicle, or leaving any personal property on the common element more than 48 hours without Board of Directors approval is also prohibited.

f. Rental or lease of a unit by a co-owner must be approved by the Board of Directors. See more on this subject below.

For more detail on restrictions listed in the condominium documents, click on the links to the condominium Master Deed and By-Laws or contact a board member. 

Association and First Responder access to the common and limited common element

The by-laws provide that the Association or its duly authorized agents will have access to common and limited common elements as may be necessary for maintenance, repair or replacement of any of the common or limited common elements, to protect the safety and welfare of condominium co-owners, or in the event of an emergency. Since many of our co-owners are absent for extended periods, the co-owners established a master key system. Keys are provided by the Association. First Responders also have access to limited common elements using the Knox Box on the North corner of each building.

Insurance: 

Storage of any and all property within the Limited Common Element is at the co-owners risk; as a result, insurance for personal property in a unit is the co-owners responsibility. The Association carries insurance for the Common Element.

Non-Liability:

The Association is not liable for personal injury or damages to or loss of personal property due to fire, flood, water leaks, rain, mildew, mold, hail, ice, snow, smoke, lightning, wind, storms, tornado, explosions, acts of God, insects, rodents and interruptions of utilities, unless caused by Association negligence. The Association does not warrant heat or humidity control. The Association is not liable for any damages arising from any act or neglect of any other tenant or owner of any unit in M-72 Recreational Storage Condominium.

Mortgages:

Any co-owner who mortgages the storage unit must notify the association of the name and address of the holder of the mortgage. The Association is required to give the holder of the mortgage written notification of any account delinquent over 60 days.

Payment of Assessments, Fees and Reimbursement

• Annual Assessment: Currently at $700 per year, the amount of the annual association assessment is decided at the annual meeting in the Fall. We are a self-managed association; as a result, reminders and invoices are not usually provided. Non-receipt of an invoice does not relieve the co-owner of the obligation to pay the annual assessment.  Payments are due on the 1st of January. There is a grace period of 15 calendar days before the $25 late fee is assessed. All payments will first be applied to any late charges and legal fees owed and then to outstanding invoices. An additional $25 penalty will be added on the 1st of each month thereafter until full payment is made. Collection action will occur on all accounts delinquent over 90 days. All legal and processing fees used for collection of debt will be added to the account of the delinquent property.

• Electric Service Reimbursement: Electric service is provided to each unit by the Association. Electric meters are read annually by the Association in the month of June and an invoice for electric fees is provided to each co-owner in July for the previous 12 month period. This electric reimbursement is due upon receipt of the invoice. There is a grace period of 15 calendar days before the $25 late fee is assessed. All payments will first be applied to any late charges and legal fees owed and then to outstanding invoices. An additional $25 penalty will be added on each 30 days thereafter until full payment is made. Collection action will occur on all accounts delinquent over 90 days. All legal and processing fees used for collection of debt will be added to the account of the delinquent property. To avoid a large electric bill, co-owners may prepay all or a portion of their bill at any time. Request an electric service invoice if one is not received by late July.  

• Special Assessments: In addition to the annual assessment, special assessments may be recommended by the Board of Directors from time to time and with the prior approval of more than 60% of all Co-owners in value. Special assessments are payable upon receipt of an invoice. Late charges apply. 

Additional information on costs of ownership are found here.

Resales - Capital Contribution:

The association by-laws provides that as part of the purchase of a storage unit, the new co-owner shall pay a one-time, non-refundable capital contribution to the Association in an amount to be determined by the Board of Directors. Currently, the capital contribution is set at one thousand dollars ($1,000.00). The capital contribution is due within 15 days of the closing date. Late fees apply. Contact a board member for more information about the capital contribution.