Ashwood Hpr

Key facts from Ashwood Hpr's documents

Reflects the 1990 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 7 definition of 'Act' and throughou)

Legal name

ASHWOOD CONDOMINIUMS Homeowners Association, Inc. (Page 13)

Units / lots

136 (maximum number of Condominium Units on the Real Estate) (Page 27, paragraph 24(a))

Developer / declarant

Windridge, Inc., an Indiana corporation (Page 34 acknowledgment)

Governing law

Indiana Horizontal Property Act (Indiana Code 32-25 et seq.) (Page 7 definition of 'Act' and reference)

Assessments & dues

The Board prepares a proposed annual budget; it must be approved by the Owners at the annual meeting. Assessments are levied against each Unit based on Percentage Interest. (Page 54-55)

Special assessments

Not explicitly defined but implied; the Board can likely levy special assessments for unanticipated expenses. The language 'Common Expenses' includes all sums levied by the Association. (Page 7 (definition of Common Expenses) a)

Collections & liens

Not explicitly detailed in provided text, but referenced: mortgagee protections and allocation of liens on reallocation (Page 28-29). Association likely has power to lien for unpaid assessments. (Page 28-29 (paragraph 24(d)))

Reserves & fees

The Association must establish and maintain a replacement reserve fund for capital expenditures and replacement/repair of Common Areas, held in interest-bearing accounts. (Page 54-55)

Use restrictions

Not explicitly stated in provided excerpts, but Board has power to adopt rules and regulations. Reference to 'Restrictions on Use' in table of contents (Article VI, Section 6.02) but pages missing. (Page 39 (table of contents))

Voting & meetings

Each Owner is entitled to cast a vote equal to their Percentage Interest in the Common Areas. Co-owners or joint owners of one unit are deemed one Owner. (Page 41, Section 2.03(c) and Page 41 (By)

Amendments

Amendments require approval by not less than 75% of the Percentage Vote, with mortgagee notice if their interest is registered. Special amendments changing Percentage Interest or Owner's liability require 100% approval. (Page 24-25, paragraphs 25(d) and (e))

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