Falling Waters HOA, Inc.

Key facts from Falling Waters HOA, Inc.'s documents

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

Community type

Homeowners Association (HOA) for single family residences (WHEREAS: 'Declarant intends to develop a)

Governing law

Indiana not-for-profit corporation law (Article I Section 1: 'Falling Waters HOA)

Assessments & dues

Board estimates total necessary costs for next calendar year, notifies Owners by Dec 15, divides equally per Residence (excluding Declarant), payable in equal installments. (Article IX Section 3(a))

Special assessments

Allowed with assent of two-thirds of votes of each class of members voting in person or by proxy at meeting; 15-60 day notice; quorum 60% first meeting, then one-half. (Article IX Section 3(b) and (m))

Collections & liens

Unpaid assessments become a lien on the Residence; Association may file notice of lien; lien subordinate to first mortgages and taxes; Association may foreclose or bring personal action; plus interest, costs, attorneys' fees. (Article IX Sections 1, 6, 7)

Reserves & fees

Board shall establish and maintain reasonable reserves for contingencies and replacements. (Article IX Section 3(c))

Pets

Dogs, cats, other common household pets allowed (non-commercial), subject to rules. (Article VII Section 2)

Leasing & rentals

Leases or rental agreements allowed, must be for not less than twelve months, in writing, submitted to Board for records, subject to Declaration. (Article VII Section 1)

Parking & vehicles

Not explicitly addressed; streets are within Common Areas and not dedicated rights-of-way. Parking on Common Areas prohibited except as permitted by Board. (Article VII Section 10; Article VIII Sec)

Architectural approval

Yes, for all new structures, additions, alterations, fences, antennas, etc. Must be approved in writing by Architectural Control Committee and Board. (Article VI Sections 1 and 2)

Setbacks / home size

Minimum side yard 10 feet from property line to building foundation or 10% of lot width, whichever greater; specific side yard rules for corner lots (clear vision triangle). (Article VI Section 5(G) and (O))

Maintenance

Association maintains Common Areas and improvements; Owner maintains Residence exterior (painting, repairs, roofs, gutters, sidewalks) and lot; Association may perform and charge if Owner fails. (Article VI Sections 3 and 4)

Voting & meetings

Two classes: Class A (all Owners except Declarant) – one vote per Residence; Class B (Declarant) – three votes per Residence owned until 75% sold, or 5 years after first conveyance, or written notice, whichever first; Class B ceases when la (Article IV Sections 1-2)

Amendments

Not explicitly detailed in this excerpt; references amendments recorded. (Cover page lists amendments)

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