Woodmont Two Condominium

Key facts from Woodmont Two Condominium's documents

Community type

Condominium (Recitals and definitions)

Units / lots

not to exceed 100 (Definition 19: 'The total number of Unit)

Developer / declarant

Arden Condominiums, LLC, an Indiana limited liability company (Recital A)

Governing law

Indiana Condominium Law (Act), Indiana Horizontal Property Law, I.C. 32-1-6-1 as amended (Recitals; Definitions (9) 'Condominium A)

Assessments & dues

Set by Board based on estimated common expenses; prorated among Units according to undivided interest in Common Areas (Article XV Section 3(a)(1))

Special assessments

Allowed for capital improvements and other purposes as defined in Section 1(2) and (3) (Article XV Section 1 (2) 'special assess)

Collections & liens

Nonpayment of assessments becomes a lien on the Unit, enforceable in same manner as provided for nonpayment of assessments (Article XV (general); Article XI Section)

Reserves & fees

Required: replacement reserve fund for capital expenditures, maintained in separate interest-bearing account (Article XV Section 3(a)(1)(e): 'a replac)

Pets

Yes, household domestic pets not bred for commercial purposes (Article III Section 2(k) 'Animals')

Leasing & rentals

Yes, Units may be rented in their entirety; no fractional renting (Article III Section 2(g) 'Renting and Le)

Home business

Allowed if: not apparent from outside, conforms to zoning, no persons coming onto property, consistent with residential character (Article III Section 2(a))

Signs & flags

No signs visible from outside except: approved common area signs, one professionally prepared sign for sale/rent on window interior (Board approval), and Declarant's signs during initial sales (Article III Section 2(h) 'Signs')

Maintenance

Association maintains roof structure and roof of all buildings which are part of Common Area (Article IX Section 1)

Insurance

Association obtains fire and extended coverage insurance on all buildings, structures, etc., including improvements and fixtures in Units (but not interior decorating), at 100% replacement cost less certain exclusions, with deductible not g (Article XI Section 1)

Use restrictions

Units primarily residential; home business allowed if not detectable, conforms to zoning, no solicitation, no nuisance (Article III Section 2(a) 'Unit Uses')

Voting & meetings

Each Unit owner entitled to vote its undivided interest in the Common Areas based on Unit size; each Unit has one vote (equal vote implied by reallocation provision) (Article VII Section 3; Article XIII Sect)

Amendments

Not explicitly found in extracted text; likely in later articles not provided

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