Lakes at Hazel Dell

Key facts from Lakes at Hazel Dell's documents

Reflects the 1999 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (Definition of Association: 'The Lakes of)

Governing law

Indiana non-profit corporation law (Articles of Incorporation reference to I)

Assessments & dues

Board determines annual assessment based on estimated Common Expenses plus reserve (Section 3.4, 3.5)

Special assessments

Yes, for operating deficits (Section 3.6) and for breach of Declaration (Section 3.7) (Section 3.6, 3.7)

Collections & liens

Assessments become a lien on the Lot if not paid within 30 days of invoice; lien may be perfected by recording; foreclosure same as mortgage (including deficiency judgment); Association can purchase at foreclosure (Section 3.9, 3.10)

Reserves & fees

Board may include a reserve fund in annual assessment (Section 3.5)

Pets

Dogs, cats, caged birds, aquarium fish, other domestic pets, not for commercial purposes, kept according to Association rules (Section 4.3.B)

Architectural approval

Board must approve or disapprove within 30 days after submission; if no action, approval deemed given (Section 8.1)

Home business

Allowed if not apparent from outside, conforms to zoning, no regular client visitation, consistent with residential character; not applicable to Developer/Builder activities (Section 4.2)

Insurance

Board shall determine deductibles from time to time (Section 10.3)

Use restrictions

Lots shall be used for private residential purposes exclusively, except limited home business (Section 4.2)

Voting & meetings

Class A (owners, one vote per Lot) and Class B (Developer, 75% of total voting power until conversion) (Section 2.2)

Amendments

Developer can amend without Owner approval for specific purposes for 7 years; otherwise amendment requires 75% of voting power of all classes and approval of first mortgage holders representing at least 51% of voting power (Section 12.3)

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