Hickory Woods (IN)

Key facts from Hickory Woods (IN)'s documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Developer / declarant

Mo Enterprises, an Indiana Partnership

Assessments & dues

Maximum $15.00 per lot with living unit constructed, until June 1, 1986 (effective date); after June 1, 1988, maximum may increase up to 10% per year without vote (Section 9.B.1, 9.B.2)

Special assessments

May be levied for construction, reconstruction, repair, or replacement of drainage area or easement, with assent of at least 2/3 of each class of Members voting (Section 9.C)

Collections & liens

Association may record notice of lien after 30 days delinquency; foreclosure similar to mortgage foreclosure in Indiana; costs and attorney fees secured by lien; Association may purchase at sale (Section 9.I, 9.J)

Reserves & fees

Adequate reserve fund shall be maintained for working capital and for periodic maintenance (Section 9.A: 'An adequate reserve fund s)

Home business

Not specifically addressed; noxious or offensive activities prohibited (Section 5.A: 'No noxious or offensive ac)

Use restrictions

Every lot is a residential lot used exclusively for single-family residential purposes; only one single-family dwelling house per lot (Section 2.A: 'Every lot in the Developme)

Voting & meetings

Class A: one vote per lot owned by Owners (excluding Developer). Class B: Developer and successors/assigns, five votes per lot owned. Class B terminates when (a) Class A votes exceed Class B, or (b) 75% of lots conveyed to non-Developer, or (Section 8.F)

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