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Countrybrook

Indianapolis, IN

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Key facts from Countrybrook's documents

Reflects the 1991 governing documents — figures and rules are as originally recorded and may have changed since.

Community type: Covenant / Planned Community
Legal name: Countrybrook
Developer / declarant: BENCHMARK DEVELOPMENT CO., INC., an Indiana Corporation (Preamble)
Special assessments: May be levied for capital improvements and operating deficits (Section 5.5), and for special maintenance or repairs (Sections 6.20 and 7.2). (Section 5.1(b), Section 5.5)
Collections & liens: Assessments, together with interest, costs, and attorneys' fees, are a charge on the land and a continuing lien. Personal obligation of the owner at time due; does not pass to successors unless expressly assumed. (Section 5.1)
Reserves & fees: A portion of Regular Monthly Assessments may be set aside in a reserve fund for repair and replacement of Common Area and other capital improvements the Association is required to maintain. (Section 5.3)
Leasing & rentals: Leases allowed subject to Section 6.3. Lease transfers to lessee all rights, privileges, obligations, and limitations of membership in Association, including irrevocable proxy to exercise voting rights except for certain votes: amendment, a (Section 6.3(a),(c))
Signs & flags: During Development Period, no 'for sale' or advertising signs (other than interior window, Developer or Builder signs) without Declarant's prior written approval. Thereafter, signs subject to Board rules. (Section 6.4)
Voting & meetings: Two classes: Class A (Owners except Declarant) 1 vote per Lot; Class B (Declarant) 3 votes per Lot, assumed 68 Lots. Class B ceases when Class A votes equal Class B or December 31, 1993, whichever earlier. (Section 4.2)
Amendments: First 20 years: amendment requires approval of at least 90% of Owners, recorded. Thereafter: 75% of Owners. Declarant may amend within 2 years of recordation if it has ownership interest. Certain changes require approval of two-thirds of fi (Section 11.3)

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