Lexington Greene

Key facts from Lexington Greene's documents

Community type

Covenant / Planned Community

Legal name

Lexington Greene Subdivision

Developer / declarant

J. Greg Allen Builder, Inc.

Governing law

Indiana Nonprofit Corporation Act of 1991, as amended (Art. I Sec. 1(a))

Assessments & dues

Set annually via budget; same amount per lot; Declarant and builder lots exempt until conveyance (Art. VI Sec. 3, Sec. 7)

Special assessments

Board may impose special assessments for unusual/extraordinary expenses without owner approval (Art. VI Sec. 4)

Collections & liens

Regular and Special Assessments become a lien on the lot; may be foreclosed as a mortgage; acceleration allowed; personal liability remains (Art. VI Sec. 5(a))

Reserves & fees

Replacement reserve fund for capital expenditures and landscaping required, held in separate interest-bearing account (Art. VI Sec. 2)

Fences

Owner constructs fences as designated by Declarant (Art. II Sec. 2(b))

Architectural approval

Architectural Control Committee not mentioned; Declarant designates locations for improvements (Art. II Sec. 2 (Declarant designates))

Maintenance

Owner (part of exterior of dwelling unit) (Art. V Sec. 1)

Insurance

Not required by this declaration (Not mentioned)

Use restrictions

Implied: Dwelling Unit defined as residence for single family; no explicit statement but consistent (Art. I Sec. 1(i) defines Dwelling Unit)

Voting & meetings

Class A (each lot one vote), Class B (Declarant ten votes per lot until Applicable Date) (Art. III Sec. 2)

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