Lakes at Hayden Run

Key facts from Lakes at Hayden Run's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Paragraph 1(g) - Corporation defined as )

Developer / declarant

Centex Homes (Nevada general partnership by Centex Real Estate Corporation, managing general partner) and Crossmann Communities Partnership (Indiana general partnership) (Preamble)

Special assessments

Board may impose without Owner approval for unusual expenses or capital expenditures (Paragraph 18(d))

Collections & liens

Unpaid assessments become a lien on the lot; can be foreclosed like a mortgage; personal liability also exists; Board may accelerate unpaid balance (Paragraphs 18(c), 18(g))

Reserves & fees

Required; 10% of Regular Assessment deposited until $25,000 before Applicable Date; after Applicable Date, 10% regardless of balance (Paragraphs 18(b), 18(f))

Voting & meetings

Class A (Owners) one vote per lot; Class B (Declarant) four votes per lot until Applicable Date (Paragraph 11(b))

Amendments

Paragraph 25 provides for amendments by Owners and by Declarant alone; specific procedures not fully detailed in excerpt (Table of Contents - Paragraph 25)

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