Heather Glen at the Legends

Key facts from Heather Glen at the Legends's documents

Community type

Condominium (association is Homeowners Association) (Paragraph 2, definitions)

Units / lots

24 on Tract 1; up to 106 total if fully expanded (Paragraph 3)

Governing law

Indiana Condominium Property Law, IC 32-25 (Paragraph 1(a))

Assessments & dues

Common Expenses assessed by the Board (Paragraph 12, 13)

Special assessments

Possible for casualty costs (Paragraph 16(b)) and for owner failure to maintain (Paragraph 13) (Paragraph 13, 16(b))

Collections & liens

Assessments constitute a continuing lien on the unit (Paragraph 13, By-Laws Article V)

Reserves & fees

Surplus insurance proceeds may be retained by Association as reserve (Paragraph 15(i)(ii), 16(g)(iv))

Leasing & rentals

Yes, with conditions (Paragraph 19)

Architectural approval

Board approval required for any alteration affecting common areas or limited areas (Paragraph 14)

Insurance

Casualty (replacement cost with inflation guard) and comprehensive public liability (min $1,000,000) (Paragraph 15(a),(b))

Use restrictions

Yes; each unit limited to residential use (Paragraph 18)

Voting & meetings

Percentage Vote equals Percentage Interest; each unit has equal vote (1 divided by total units) (Paragraph 1(r), 8)

Amendments

67% vote for general amendments; 100% for changes to percentage interest or reconstruction provisions; 2/3 and mortgagee majority for material amendments; Declarant may amend unilaterally before Applicable Date for certain purposes (Paragraph 20)

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