Condo Association Management Blog

Can you help decifer a passage from our Condo Association's CCR?

  

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Could someone try and interpret this passage in our CCR's.(Conditions, Covenants and Restrictions)

"The Association has the right and power to prosecute or defend, under the name of the Association, any action affecting or relating to the Project or the personal property thereon, or any action in which all of the Owners have an interest in the subject matter of the action. Notwithstanding the foregoing, without the prior vote or written assent of a majority of the voting power of the Association, the Board may not institute any legal proceeding (including any arbitration or judicial reference proceeding) against any person or entity the cost of which could reasonably be expected to exceed Two Thousand Five Hundred Dollars ($2500.00). In estimating the costs, the Board shall include all normal and customary court cost and attorneys' fees without regard to the possibility of recovery costs and fee the Association were to prevail."