Limestone Springs

Key facts from Limestone Springs's documents

Community type

Condominium (for Limestone Springs Condominiums) and Homeowners Association (for Limestone Springs Property Ownership); mixed community (Document titles; Condominium Declaration)

Legal name

Limestone Springs Condominium Owners Association, Inc. (Article 1.5)

Units / lots

12 condominium units in one building initially (per Condominium Declaration); plus single-family lots in Limestone Springs Property Ownership (Section 1B added 26 lots, lots numbered 123A, 123B, 131A-147B, total 47 lots after addition) (Article 4.1; Supplemental Declaration Se)

Developer / declarant

Centex Homes, a Nevada general partnership (Article 1.13 (Condominium Declaration); )

Governing law

Indiana Code §32-25-1 et seq. (Condominium Law) (Article 1.1)

Special assessments

Allowed by Board; Special Assessments for acquisition of real property, construction of additional improvements (not repair/replacement), or expenses significantly increasing Association responsibility require approval by majority of Percen (Article 5.7)

Reserves & fees

Association must establish and fund a replacement reserve. Operations reserves may be maintained at Board's discretion. (Article 5.11)

Leasing & rentals

Leasing of condominium units addressed in Article 9.11 (text not provided). Likely allowed with restrictions. (Table of Contents, Article 9.11)

Parking & vehicles

Access and Parking Easement for streets, sidewalks, parking areas. Association may adopt Rules for use. Private streets are Common Area. No specific parking restrictions provided; but Association controls. (Article 3.4)

Fences

For Property Ownership: fences allowed only in rear yard; no front yard fences. Types: 4 ft white PVC or 4 ft black vinyl chain link; must be on property line and adjoin adjacent fences. Up to 6 ft wood shadowbox/dog-eared on approved area (Second Amendment to Property Ownership D)

Setbacks / home size

For Property Ownership Section 1B: dwelling units must have minimum square feet of finished living area (excluding garages, carports, basements, porches) as required by Zoning Commitments and/or applicable zoning laws. (Supplemental Declaration Section 3)

Use restrictions

Article 9 lists restrictions including animals, annoyance, appearance, business, etc. Full text not legible; but restrictions impliedly include typical condominium limits. Specifics: no soliciting? Not explicit. (Table of Contents, Article 9)

Voting & meetings

Percentage Vote equals Percentage Interest (1 divided by total number of units). Each owner has vote equal to percentage interest. (Article 1.31 and Article 4.3)

Amendments

Amendments to satisfy underwriting lenders may be done per Article 15.2. Other amendments require approval as per Act and Declaration. Merger with another association requires 2/3 vote (Article 2.3). Amendment of Article 5.3 (assessment inc (Article 2.3, 4.3, 5.3)

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