Lake Kesslerwood

Key facts from Lake Kesslerwood's documents

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

Community type

Planned Unit Development / Homeowners Association (Document context and references to DP Dw)

Legal name

Kesslerwood Lake Association, Inc.

Units / lots

Maximum 300 living units (per 1974 covenant) (Exhibit 'B' page 1: 'Total number of liv)

Governing law

Indiana Non-Profit Corporation Act of 1991 (I.C. 23-17-8-2) (Whereas ... to comply and conform with t)

Assessments & dues

Not fixed; to be set by Board, not to exceed maximum annual general assessment rate based on 10% or CPI increase per year. (Article V Section 2(c))

Special assessments

May be levied with assent of 2/3 of votes cast by Class A and Class B Members (in aggregate). (Article V Section 3)

Collections & liens

Assessment is a lien on the land; Association may bring action to foreclose lien and action against owner personally. Upon default in installments, Association may accelerate entire balance. (Article V Sections 1 and 4)

Reserves & fees

Interest from due date at rate set by Board, not greater than 12% per annum, if unpaid within 30 days after due date. (Article V Section 4)

Leasing & rentals

Yes, implied by definition of Occupant: lessee under written lease with initial term of at least 12 months. (Article I, Definition of Occupant: 'Occu)

Architectural approval

Yes. Architectural Review Board approval required for any improvements, excavation, changes in grade, or changes to Lake Property from its natural or improved state. (Article VI Section 3: 'No improvements, )

Setbacks / home size

Minimum ground floor area: 1,700 sq ft for one-story, 1,200 sq ft for one-and-one-half, two, or two-and-one-half story structures. Measured at exterior of wall lines, excluding open porches and garages. (Exhibit 'A' Covenant I)

Use restrictions

Yes. Lots designated residential; only one single-family dwelling with garage and accessory building allowed. (Exhibit 'A' Covenant B: 'All lots shall )

Voting & meetings

Two classes: Class A (Lake Kesslerwood Addition owners) and Class B (Boardwalk Development owners); each lot one vote; equal representation in aggregate for each class on Board (Article IV Sections 3 and 5)

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