2007 Minnesota Statutes

515A.2-106 CONTENTS OF DECLARATION; FLEXIBLE CONDOMINIUMS.
The declaration for a flexible condominium shall include, in addition to the matters specified
in section 515A.2-105:
(1) an explicit reservation of any options to add additional real estate;
(2) a statement of any time limit, not exceeding seven years after the recording of the
declaration, upon which any option reserved under paragraph (1) will lapse, together with a
statement of any circumstances that will terminate the option before the expiration of the time
limit. If no time limit is set forth in the declaration, the time limit shall be seven years after the
recording of the declaration;
(3) a statement of any limitations on any option reserved under paragraph (1), other than
limitations created by or imposed pursuant to law;
(4) legally sufficient descriptions of each portion of additional real estate;
(5) if portions of any additional real estate may be added at different times, a statement to
that effect together with a statement fixing the boundaries of those portions and regulating the
order in which they may be added or a statement that no assurances are made in those regards;
(6) a statement of (i) the maximum number of units that may be created within any additional
real estate and within any portion, the boundaries of which are fixed pursuant to paragraph (5),
and (ii) how many of those units will be restricted exclusively to residential use;
(7) a statement that any buildings and units that may be erected upon the additional real estate
or a portion thereof will be compatible with the other buildings and units in the condominium in
terms of architectural style, quality of construction, principal materials employed in construction,
and size, or a statement of any differences with respect to the buildings or units, or a statement
that no assurances are made respecting those matters;
(8) a statement that all restrictions in the declaration affecting use, occupancy, and
alienation of units will apply to units created in the additional real estate, or a statement of any
differentiations that may be made as to those units;
(9) general descriptions of all other improvements and common elements that may be made
or created upon or within the additional real estate or each portion thereof;
(10) a statement of the extent to which any assurances made in the declaration regarding
additional real estate pursuant to paragraphs (5) to (9) apply in the event any additional real
estate is not added to the condominium, or a statement that those assurances do not apply if the
real estate is not added to the condominium.
History: 1980 c 582 art 2 s 515.2-106