Ambassador Pk South Hpr

Key facts from Ambassador Pk South Hpr's documents

Reflects the 1973 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Ambassador Park South Association, Inc. (Articles of Incorporation Article I)

Units / lots

60 initial (maximum 370) (Supplement certification lists Units 1A )

Developer / declarant

Herman Development Group, Inc. (Opening recital)

Governing law

Indiana Horizontal Property Act (Recital B, Section 1.1)

Assessments & dues

$84 per year for fiscal year ending 1/31/75 (Section 4.7: maximum Annual Assessment s)

Special assessments

allowed for capital improvements, unusual expenses; requires 67% vote of members unless due to insurance insufficiency (Section 4.9: Association may levy Specia)

Collections & liens

unpaid assessments become a lien on the Home; may be foreclosed like a mortgage; also personal obligation (Section 4.13, 4.14)

Reserves & fees

budget includes reserves (Section 4.5: budget shall include capita)

Pets

dogs, cats, other household pets allowed, but not bred for commercial purposes, not endanger health or unreasonably disturb (Section 3.4)

Leasing & rentals

yes, with minimum term of one month, no room rentals, no transient tenants. Not applicable to Declarant. (Section 3.9: Homes may be rented provide)

Architectural approval

yes, for any building, fence, wall, other structure, or exterior addition/change (Section 7.3: no building, fence, wall or)

Home business

prohibited; no business activities of any kind in any building or portion of Property (except Declarant during construction) (Section 3.5: No business activities of a)

Maintenance

Owner responsible for interior maintenance, repair, decoration, windows, doors, HVAC; Association responsible for common areas, exterior portions (roof, outer walls, etc.) (Section 6.2: Owner maintains interior, h)

Insurance

Individual Owner responsible for insuring own Home, fixtures, improvements, personal property, and liability insurance (Section 7.8: It shall be the individual )

Use restrictions

yes (Section 3.1: All Homes restricted exclus)

Voting & meetings

Each Homeowner votes percentage interest in Common Areas (Section 2.3)

Amendments

During first 20 years: 90% vote of Homeowners; thereafter: 67% vote; also require mortgagee approval if interest notified; amendment recorded (Section 10.3: (c) Adoption: first 20 yea)

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