Adelaide Hpr

Key facts from Adelaide Hpr's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (WHEREAS: creates a Horizontal Property R)

Governing law

Indiana Code 32-25 et. seq. (Section 1a)

Collections & liens

Lien for assessments may be foreclosed; subordinate to first mortgage (Section 26b, By-Laws Section 5.05)

Reserves & fees

Replacement reserve for capital expenditures, kept in separate interest-bearing account (By-Laws Section 5.02)

Leasing & rentals

Yes, with Board approval; approval deemed if no refusal within 72 hours (Section 18a)

Architectural approval

Yes, for alterations affecting Common Areas, Limited Areas, or structural integrity; also approval of Indianapolis Historic Preservation Commission if required (Section 14)

Maintenance

Association (part of Common Areas) (Section 6)

Insurance

Fire and extended coverage insuring full replacement value of all improvements (Section 15a)

Use restrictions

Each Condominium Unit limited to residential use (Section 17)

Voting & meetings

Each Owner one vote per unit; Multiple Owners appoint one representative in writing (By-Laws Section 2.07)

Amendments

Material amendments require 66 2/3% of owners and 51% of eligible mortgagees; declarant can amend unilaterally for certain purposes (e.g., conform to law, correct errors) (Section 19)

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