Acres of Diamonds

Key facts from Acres of Diamonds's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Acres of Diamonds Contiguous Owners Association

Developer / declarant

Duane Lane and Patricia Lane

Assessments & dues

$100.00 per lot sold by Developer, distributed evenly against each lake lot. (Section 9.C)

Special assessments

Allowed for capital improvements with two-thirds vote of voting members at a meeting called on 30 days' notice. (Section 9.D)

Collections & liens

Unpaid assessments become a continuing lien on the property; Association may foreclose or bring personal action; lien subordinate only to first mortgage. (Sections 9.A, 9.I, 49)

Reserves & fees

$10.00 penalty if assessment not paid within 30 days after delinquency date. (Section 9.I)

Voting & meetings

Each owner of a lot in the Development has one vote in the Association; for special assessments and changes, two-thirds (2/3) vote of voting members required. (Sections 9.D, 9.E, 9.L)

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