Highland Park 3 Association, Inc.

Key facts from Highland Park 3 Association, Inc.'s documents

Reflects the 1992 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhome (three attached dwellings) with common area held as tenants in common (Recitals; Section 1.5)

Units / lots

3 (Lots 1, 2, 3) (Recitals; Section 2.1; Exhibit A)

Assessments & dues

No regular assessments; costs of joint maintenance shared equally (one-third per lot) (Section 6.1; Section 8.1 (insurance pror)

Special assessments

Extra maintenance costs caused by willful/negligent act of an owner are charged to that owner; no special assessment mechanism for general funding (Section 5; Section 6.2; Section 4.3)

Collections & liens

Unpaid cost of repairs/extra maintenance becomes a lien against the responsible owner's Lot; no foreclosure procedure described (Section 4.3; Section 5; Section 6.2)

Leasing & rentals

Yes, for residential purposes on short-term or long-term basis (Section 7 (paragraph 6))

Parking & vehicles

Not specifically addressed; parking areas described as part of common area (Section 1.2 (common area includes parkin)

Fences

Must be adequate to screen equipment, garbage cans, wood piles, storage piles from view of adjacent Lots and streets (Section 7 (paragraph 8))

Architectural approval

Prior written approval of all other Lot Owners required for any additional structure on Lot or Common Area (Section 7 (paragraph 2))

Solar & roof

Exterior sealant, paint, trim, and decoration of each Lot shall be the same color as the adjacent Lot; party wall exterior must be same design, type, quality, and color as previously existed unless agreed by all Owners (Section 7 (paragraph 8); Section 4.3)

Home business

Prohibited, except rental of the Lot is not considered a business (Section 7 (paragraph 7))

Signs & flags

One 'For Sale' or 'For Rent' sign not more than 5 square feet permitted; no other advertising signs, billboards, unsightly objects (Section 7 (paragraph 6 and 7))

Maintenance

Jointly maintained and repaired by all owners, cost shared equally (Section 6.1)

Insurance

Blanket fire and casualty insurance for full insurable value of the Lots; liability insurance for common area in aggregate not less than $1,000,000 unless unanimously agreed otherwise (Section 8.1)

Use restrictions

Lots restricted to single-family residential use; rental for residential purposes permitted (Section 7 (paragraph 5 and 6))

Voting & meetings

Each lot owner has one vote; decisions initially unanimous while H. Norman Nafstad, Jr. owns a lot; thereafter majority (2 out of 3 lots) (Section 9.3)

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