Hazel Dell Woods

Key facts from Hazel Dell Woods's documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Units / lots

175 (assumed maximum platted and unplatted lots) (Article III, Section A, Class B membersh)

Developer / declarant

BAY COMMUNITIES, LLC

Governing law

Indiana Nonprofit Corporation Act of 1991, as amended (Article I, Section A (page 2))

Assessments & dues

Determined by budget: estimated Common Expenses divided by total lots. Cap of $280 per lot prior to January 1, 2005 (originally $240, amended). Developer does not pay Annual Assessments but pays any deficit until Turnover Date. (Article V, Section C (page 9) as amended)

Special assessments

May be levied by Board for capital expenditures or interest on capital debt, with approval of two-thirds of Members voting in person or by proxy at a meeting. Meeting must have 30-60 days notice and a quorum. Also possible for insurance sho (Article V, Section D (page 10-11))

Collections & liens

If assessment unpaid for 10 days after due, Board may file certificate of lien. Lien valid for 5 years unless released earlier. Lien subordinate to bona fide first mortgages. Foreclosure permitted. (Article V, Section F.5 (page 11-12))

Reserves & fees

May be established by Board for financing operation, repair, maintenance of Common Property. (Article V, Section A (page 9))

Use restrictions

Each Lot shall be occupied and used exclusively for single-family residential purposes and purposes customarily incidental to a residence. (Article VIII, Section A.1 (page 15))

Voting & meetings

Class A members (owners of improved lots) each have one vote per lot. If multiple owners, they determine how to vote, but only one vote per lot cast. Class B members (Declarant) have votes equal to number of lots (assumed 175) and convert t (Article III, Section A (pages 5-6))

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