The Venbury II Townhomc Owners Association

Key facts from The Venbury II Townhomc Owners Association's documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (Townhome Owners Association) (Article I, Section 1)

Units / lots

Up to 34 (one living unit per lot, but not explicitly stated) (Inferred from definition of Living Unit )

Developer / declarant

Metropolitan Residential Development Fund, L.C., an Iowa limited liability company, with principal place of business at Hubbell Realty Company, Managing Member, 904 Walnut Street, Suite 900, Des Moines, Iowa 50309-3574 (Opening recitals and Article I, Section )

Governing law

Iowa Code Chapter 504A (1999) (Article I, Section 1)

Assessments & dues

Not fixed in Declaration; monthly assessment set by Board of Directors (Article III, Section 3)

Special assessments

Levied for capital improvements or operating deficits, requires assent of majority of Members voting in person or by proxy at a duly called meeting (Article III, Section 4)

Collections & liens

Assessments are a continuing lien on the Lot, senior except first mortgage of record and ad valorem taxes. Association may foreclose in manner provided for mortgage foreclosure. (Article III, Sections 1 and 9)

Reserves & fees

A portion of monthly assessment shall be set aside in a reserve fund for repair/replacement of Association Responsibility Elements (Article III, Section 3)

Pets

Association may by rules allow cats and dogs weighing less than 45 pounds at full growth; rules may limit number and size. Not a requirement to allow pets. (Article XII, Section 3)

Leasing & rentals

Yes, but with restrictions: unit must have been occupied by Owner for one year before leasing; minimum lease term of one year; no renewals for shorter period. Not applicable to Declarant or builder before first sale. (Article XIII, Section 6)

Parking & vehicles

No parking of trucks or other commercial vehicles except temporarily for pickups and deliveries (Article VIII)

Fences

No fence without prior written approval of Board. Fences limited to privacy or decorative fences around decks or patios. (Article XII, Section 14)

Architectural approval

Yes, any building, wall or other structure (except originally constructed by Declarant) must have prior written approval of Board or architectural committee as to harmony of external design and location. Any change in exterior appearance or (Article X)

Home business

No home occupation except one incidental to a business, profession or occupation of the owner that is generally conducted away from the Lot, provided it is permitted by City of Altoona ordinances (Article XI, Section 2)

Signs & flags

No advertising signs, including 'For Sale' or 'For Rent' signs, without prior written approval of Declarant (while Declarant is a member). No signs identifying home occupations. Declarant may erect its own signs. (Article XI, Section 1; Article VII, Sect)

Maintenance

Owner responsible for all maintenance/repair of Lot and improvements except Association Responsibility Elements (exterior surfaces of buildings excluding windows/doors/patios/decks, structural portions, downspouts, foundations, common walls (Article V, Section 1; Article I, Section)

Insurance

Association to purchase property insurance covering Association Responsibility Elements at full replacement value; 'all risk' coverage if obtainable. Also comprehensive public liability insurance covering Association, Board, agents, Owners, (Article VI, Sections 1 and 2)

Use restrictions

No Lot shall be used for any purpose other than single-family residential purposes, except Declarant's rights (Article XII, Section 2)

Voting & meetings

One vote per Lot. If multiple owners, they determine how to cast the single vote. Declarant is sole voting Member until it no longer owns any portion of Properties or waives that right. (Article II, Section 2)

Amendments

May be amended by instrument recorded in Polk County, signed or approved by two-thirds (2/3) of Owners with voting rights. Declarant's rights cannot be amended without Declarant's written approval. Declarant may also amend within 5 years af (Article XIII, Section 2)

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