Waterstone Homeowners Association, Inc.

Key facts from Waterstone Homeowners Association, Inc.'s documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (Throughout (Homeowners Association))

Units / lots

564 (Recitals (total of five hundred sixty-fo)

Governing law

Indiana nonprofit corporation law (Recitals (Association is an Indiana nonp)

Assessments & dues

Set annually by Board; not fixed in document (Paragraph 13(b)(iii) (Board of Directors)

Special assessments

May be levied with assent of majority of votes of Members voting in person or by proxy at a meeting; may cover up to 4 succeeding fiscal years (Paragraph 13(f) (Special Assessment ... )

Collections & liens

Assessments are a continuing lien on the Lot and personal obligation of Owner. Subordinate to first mortgage. Sale or transfer pursuant to mortgage foreclosure extinguished lien for payments due more than 6 months prior. (Paragraph 13(a) (shall be a charge on th)

Reserves & fees

Reserve for Replacements established and maintained by Board; amount determined annually (Paragraph 12(e) (Reserve for Replacement)

Pets

Not explicitly stated, but dogs mentioned in nuisance context; no specific pet policy (Paragraph 16(a)(ii) (excessively barking)

Fences

Perimeter Fence owned and maintained by Association. Fences on lots subject to ARB approval. No structure on drainage/sewer/utility easements that would interfere, but paved driveway not deemed structure. (Paragraph 1 (Perimeter Fence definition))

Architectural approval

Yes, for any improvement, alteration, change of colors, etc. on a Lot. 'Plantings' with mature height <18 inches exempt. (Paragraph 14(c) (no improvements, altera)

Home business

Allowed if no significant visits, no outdoor equipment, no employees except owner/resident, approvals obtained, complies with home occupation ordinance, and no signs (Paragraph 16(a)(ii) (An Owner may mainta)

Setbacks / home size

Vary by Section: Bayhill: side >10ft, rear >20ft, aggregate side >=25ft; Windpointe: side >10ft, rear >20ft, aggregate side >=30ft; Stonewick: side >5ft, rear >20ft, aggregate side >=15ft; Brookfield: side >5ft, rear >20ft. (Paragraph 25(e)-(h) (Building Location f)

Maintenance

Not explicitly stated; likely owner responsibility as part of maintaining Residence (Paragraph 16(b) (painting ... of all bui)

Insurance

Association to maintain fire and extended coverage on insurable Community Area on current replacement cost at least 100% of insurable value. (Paragraph 12(f)(ii) (fail to maintain fi)

Use restrictions

Lots may be used only for residential purposes and only one Residence may be constructed (Paragraph 16(a)(i) (Lots may be used onl)

Voting & meetings

Each Owner has voting rights as specified in Articles and By-Laws; single class of members (Paragraph 12(a) and 12(c))

Amendments

By instrument signed by officers pursuant to authority granted by not less than two-thirds (2/3) of votes of Members cast at meeting duly called for that purpose; amendment effective upon recording. (Paragraph 21(a) and (b) (not less than t)

Amenities

Lake Waterstone (boating, fishing, swimming as authorized), Common Docks (16 docks), Community Center (Tidewater Club) with clubhouse, bath house, swimming pool, Waterstone Courts Complex, other recreational/community facilities, Tidewater (Paragraphs 4, 6, 7, 9, 10, 11)

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