Meridian Towers

Key facts from Meridian Towers's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Horizontal Property Regime (condominium) under Indiana law (Original Declaration recital B; First Am)

Units / lots

116 (112 single-family residential units and 4 commercial units) (First Amendment Section 13 (amending Sec)

Governing law

Indiana Horizontal Property Law (Indiana Code 32-25-1 et seq.) (Original Declaration, Recital B; Section)

Assessments & dues

Based on Undivided Interests (percentage common area) as set forth in Exhibit C (Original Declaration Section 1.1.27; Art)

Special assessments

Permitted. Cost of additions/alterations to Common Areas may be paid out of a special assessment (Original Declaration Section 3.9(a); Sec)

Collections & liens

Association has a lien on a Unit for unpaid assessments, enforceable in the same manner as delinquent assessments (Section 6.01). Lien subordinate to mortgages (Section 6.11) (Original Declaration Section 6.01; Secti)

Reserves & fees

Replacement Reserve fund for maintenance, repair, replacement of Common Areas and Facilities (Original Declaration Section 1.1.25; Sec)

Pets

Yes, up to two pets per Unit (Original Declaration Section 3.15)

Leasing & rentals

Yes, with term of at least six (6) months (Section 3.24) (Original Declaration Section 3.24)

Parking & vehicles

Prohibited overnight in outdoor parking areas or driveways without Board consent (Section 3.22) (Original Declaration Section 3.22)

Architectural approval

Yes, Board's prior written consent needed for additions, alterations, or improvements visible from outside or that alter structure or increase insurance (Section 3.9(b)) (Original Declaration Section 3.9(b))

Home business

Only allowed as permitted in By-Laws or by Board; commercial units have separate exemption (Original Declaration Section 3.11(a))

Signs & flags

Prohibited generally except for commercial units (West building 1A,1B,1C,1D) with prior written Board approval and applicable regulations (First Amendment Section 18 amending Section 3.14; Original Declaration Section 3.14) (First Amendment Section 18; Original Dec)

Maintenance

Not explicitly assigned; likely Association (part of Common Areas and Facilities)

Insurance

Owner pays deductible for damage caused by their negligence (Section 3.10) (Original Declaration Section 3.10)

Use restrictions

Yes, except Units 1A,1B,1C,1D in West Building may be used for any lawful purpose including commercial, retail, office with city approval (First Amendment Section 17 amending Section 3.11(d)) (Original Declaration Section 3.11(a); Fi)

Voting & meetings

Based on Undivided Interests (percentage of common area) as set forth in Exhibit C (Original Declaration Section 1.1.27; Art)

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