Shorewalk

Key facts from Shorewalk's documents

Community type

Covenant / Planned Community

Legal name

Shorewalk

Units / lots

Same as Units; not applicable

Developer / declarant

RAMSWOOD DEVELOPMENT CORPORATION, an Indiana corporation (Article 1.11 (page 7))

Governing law

Indiana Horizontal Property Law (I.C. 32-6-22) referenced for Shorewalk II (Section 10.5.1)

Assessments & dues

$41.23 per month until January 1, 1984 (Interim Monthly Assessment); then increasing to $62.42 (1984), $71.06 (1985), $82.07 (1986). Subject to 10% increase for 1984-1987 (Section 10.5 (page 16))

Special assessments

Levied by Association with majority vote of members (in person or by proxy) for capital improvements or contingencies. If affecting only Shorewalk I or II, only those Owners vote (Sections 10.6.1, 10.6.2 (page 17))

Collections & liens

Regular Assessments become a lien on each Unit as of first day of month after adoption (Section 10.3). Association may recover reasonable attorneys' fees on default (Section 10.4). Default accelerates remaining monthly installments for the (Sections 10.3, 10.4 (pages 16-17))

Reserves & fees

Separately established reserve fund for replacement and repair of capital improvements (Section 10.6 (page 17))

Architectural approval

Board reserves exclusive right to determine outside decor, including color and paint (Section 8.1 (page 12))

Maintenance

Association responsible for exterior of each Unit except glass; Owner responsible for interior and any defect that might adversely affect other units or common areas (Section 8.1 (page 12))

Use restrictions

Property maintained for residential character (Article XIV (page 21))

Voting & meetings

One vote per Unit (Section 3.3 (page 10))

Amendments

Within 20 years of recordation: by instrument signed by 90% of Owners. Thereafter: by 90% of Owners. Declarant's rights cannot be amended without Declarant's written approval. Amendments dealing with additional phases and reassignment of pe (Article XVII (pages 22-23))

Amenities

Pool and Pool House (upon sale of 56 Units), Two Tennis Courts (64 Units), Jogging Path (70 Units), Third Tennis Court (124 Units), Boat Docking Facilities (schedule based on unit sales up to 117 docks), Maintenance and Storage Barn (convey (Sections 1.9.1-1.9.6 (pages 6-7))

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