Reserve at Timbers Edge Hpr

Key facts from Reserve at Timbers Edge Hpr's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Paragraph 2: Declaration)

Units / lots

38 (Tract 1 initial), expandable to 106 (total real estate) (Paragraph 3: Description of Buildings)

Developer / declarant

Premier Villages, LLC, an Indiana limited liability company (Preamble and Paragraph 1(j))

Governing law

Indiana Condominium Property Law, IC 32-25 (Paragraph 1(a): Definitions - 'Act')

Assessments & dues

Common Expenses determined by Board of Managers, allocated according to Percentage Interest (Paragraph 1(g), 12, and By-Laws)

Special assessments

Permitted for casualty costs; assessment becomes lien immediately (Paragraph 13, 16(b))

Collections & liens

Assessments constitute a continuing lien and obligation; enforceable as provided in By-Laws Article V (Paragraph 13)

Reserves & fees

Referred to: 'reserve for replacements established pursuant to the By-Laws' (Paragraph 15(i)(ii))

Leasing & rentals

Yes, subject to conditions (Paragraph 19)

Parking & vehicles

Streets not dedicated public streets are Common Areas; no specific restriction (Paragraph 6(h))

Fences

Fences in Limited Areas (patios etc.) are part of Limited Areas; alterations require Board approval (Paragraph 7(b), 14)

Architectural approval

Yes, for alterations affecting Common Areas or Limited Areas; written approval of Board required (Paragraph 14)

Home business

Not specifically mentioned

Maintenance

Exterior surfaces of roofs are Common Areas (maintained by Association) (Paragraph 6(b))

Insurance

Casualty (fire, extended coverage, all-risk) at full replacement cost; comprehensive public liability ($1,000,000 minimum); workers comp; other as deemed appropriate (Paragraph 15(a)-(d))

Use restrictions

Each Condominium Unit limited to residential use (Paragraph 18)

Voting & meetings

Percentage Vote equal to Percentage Interest; each unit equals one vote divided by total units (Paragraph 1(p) and Paragraph 8)

Amendments

Requires 67% of Percentage Vote; special amendments require 100% consent or 2/3 vote plus majority of mortgagees; Declarant can amend unilaterally prior to 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.