Shoal Pointe

Key facts from Shoal Pointe's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Shoals Pointe Home Owners Association, Inc. (originally Shoal Pointe Townhome Owners Association, Inc.) (Article I, Section 1, DOC 187145 Page 1;)

Legal name

Shoal Pointe Townhome Owners Association, Inc.

Governing law

Iowa Nonprofit Corporation Act (reference to lowa law) (Article III, Section 2, DOC 187145 Page )

Assessments & dues

Board of Directors fixes amount of monthly assessments; pro-rata among Assessable Lots. (Article IV, Section 7, DOC 187145 Page 6)

Special assessments

May be levied for capital improvements with consent of 2/3 of votes (in person or by proxy). Also for common area maintenance and exterior maintenance. (Article IV, Sections 4 and 5, DOC 187145)

Collections & liens

Assessments are a continuing lien on the Lot. Association may foreclose or sue personally. Lien is subordinate to first mortgage. Association may release lien if no value. (Article IV, Sections 1 and 9, DOC 187145)

Reserves & fees

Delinquent payment fee determined by Board on annual basis at annual meeting. (Article IV, Section 1(2), DOC 187145 Pag)

Pets

Yes, non-exotic household pets allowed. (Article IX, Section 1(b), DOC 187145 Pag)

Leasing & rentals

Yes, Owner may rent or lease Lot. (Article IX, Section 1(a), DOC 187145 Pag)

Parking & vehicles

Not specifically mentioned; but no vehicle repairs other than emergency to move vehicle. (Article IX, Section 1(d), DOC 187145 Pag)

Home business

Permitted only with written permission from Board; no sign, no undue traffic, no obvious use of property for business. (Article IX, Section 1(a), DOC 187145 Pag)

Use restrictions

Lots restricted exclusively to residential use. No trade or business except as allowed with Board permission (no sign, no undue traffic). (Article IX, Section 1(a), DOC 187145 Pag)

Voting & meetings

One vote per lot. Only one class of members (Class A). When more than one owner, they determine vote, but not more than one vote per lot. (Article III, Section 3, DOC 187145 Page )

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