Aspen Ridge (IN)

Key facts from Aspen Ridge (IN)'s documents

Reflects the 1993 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Units / lots

68 (Lot Nos. 1 through 68 inclusive) (Plat Covenants, introductory paragraph)

Developer / declarant

J&M DEVELOPMENT COMPANY

Governing law

Laws of the State of Indiana (Article 11.6)

Assessments & dues

Initially maximum $10 per month ($120 per year) until Jan 1, 1996; thereafter Board may set up to 15% increase per year without 2/3 vote (Article 6.3(i), (ii))

Special assessments

Yes, for reconstructing, repairing or replacing capital improvements the Association is required to maintain, and to recover operating deficits (Article 6.4)

Collections & liens

Assessments are a continuing lien on the lot, prior to all other liens except tax and first mortgage liens; may be foreclosed like a mortgage; personal obligation of owner; foreclosure lien extinguishment for unpaid assessments prior to sal (Article 6.1, 6.7(i), 6.7(ii))

Reserves & fees

Association may allocate funds in a reserve fund for repair and replacement of capital improvements it is required to maintain (Article 6.2)

Pets

Impliedly allowed, but no farm animals, fowls, or domestic animals for commercial purpose (Plat Covenant 15)

Architectural approval

Yes, for any construction, alteration, improvement, fence, antenna, satellite dish, pool, etc. Prior written approval of Aspen Ridge Architectural Control Committee required (Article 5.3, Plat Covenant 5)

Home business

Permitted as allowed by Dwelling Districts Zoning Ordinance of Marion County, Indiana (Plat Covenant 8)

Setbacks / home size

Building Setback Lines as depicted on plat. No building or structure closer than 4 feet to any side lot line; aggregate side yard 10 feet. For two contiguous lots used as one, side yard restriction applies to combined lots as if single. (Plat Covenant 4)

Maintenance

Owner maintains lot and improvements except where Association responsible (Sign & Landscape Easement, easement areas, drainage system, retention areas, etc. per Article 4.7). Association may enter and repair if owner fails; cost becomes ass (Article 8.1, Article 4.7)

Insurance

Casualty insurance (fire & extended coverage) on improvements Association must maintain; full replacement cost. Liability insurance: comprehensive public liability, minimum $3,000,000 per occurrence. Other insurance as required. (Article 7.1, 7.2, 7.3)

Use restrictions

All lots shall be solely for residential purposes; no business buildings; home occupations permitted per Marion County Zoning Ordinance (Plat Covenant 8)

Voting & meetings

Class A members (all owners except Developer): one vote per lot. Class B member (Developer): three votes per lot until Applicable Date (earlier of end of Development Period or Dec 31, 1998). Multiple owners of a lot exercise one vote as the (Article 4.2, 4.3, 4.4)

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