Thompson Michael D

Key facts from Thompson Michael D's documents

Reflects the 1991 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

private recreational residential community consisting of 27 Lots around Lake Wehapa with access by private roadway (WHEREAS clause, page 1)

Legal name

Wehapa Lakes, Inc.

Developer / declarant

Wehapa Lakes, Inc.

Governing law

Alabama Code, Title 10, Section 10-2A-1 et seq. (Article III, Section 1)

Assessments & dues

Annual assessments approved by two-thirds (2/3) vote of Stockholders; special assessments for capital improvements require two-thirds (2/3) vote; supplemental assessments up to $3,000 may be set by Board, above that requires two-thirds (2/3 (Article IV, Sections 2,3,4)

Special assessments

May be levied for capital improvements to Access Easement or other Community Area, with two-thirds (2/3) vote of Stockholders (Article IV, Section 3)

Collections & liens

A claim of lien with power of sale on each Lot for unpaid assessments; lien is subordinate to mortgages; mortgage foreclosure extinguishes prior assessment liens (Article IV, Sections 8(b), 9)

Reserves & fees

Interest at maximum legal rate per annum from date of delinquency; also costs and reasonable attorney's fees (Article IV, Section 8(a))

Pets

Pets are not generally prohibited, but raising, breeding, or keeping animals, birds, or fowls for commercial purposes is prohibited (Article VII, Section 1(b))

Parking & vehicles

Board may adopt rules for parking of motor vehicles on streets or roads in the Access Easement (Article III, Section 6(c))

Architectural approval

Plans and specifications for new Single Family Residences, exterior additions, or changes must be submitted to and approved in writing by the Board or an Architectural Committee; approval based on harmony of external design and location; if (Article VI)

Home business

Prohibited (Article VII, Section 1)

Signs & flags

Corporation may place signs on Access Easement for identification, use, and regulation (Article III, Section 5(d))

Setbacks / home size

One-story: at least 2,000 sq ft ground floor; multi-story: at least 2,500 sq ft total; garages, basements, carports, eaves, steps, open decks/terraces not counted (Article VII, Section 2(b))

Use restrictions

Property and each Lot used for residential purposes only; no trade or business, including home industry, permitted (Article VII, Section 1)

Voting & meetings

Each Stockholder (owner of a Lot and Stock) has voting rights; two-thirds (2/3) vote required for transfer approval, annual assessments, special assessments, supplemental assessments over $3,000, amendment, and distribution (Article III, Section 3B; Article IV, Sec)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.