The Peninsula Owners Association, Inc.

Key facts from The Peninsula Owners Association, Inc.'s documents

Community type

Horizontal Property Regime (Condominium) (Page 1, Paragraph 2)

Developer / declarant

R&H Builders, Inc., an Indiana corporation (Opening paragraph, Paragraph 1(l))

Governing law

Horizontal Property Law of the State of Indiana, Acts 1963, Chapter 349, as amended (Paragraph 1(a))

Reserves & fees

Reserve for replacements and general operating reserves required (Sections 6.04 and 6.05 of By-Laws) (Paragraph 22 (last sentence))

Leasing & rentals

Yes, but with restrictions (Paragraph 23(a))

Use restrictions

Each Condominium Unit shall be limited to residential use (Paragraph 13)

Voting & meetings

Percentage Vote equal to Percentage Interest per unit; initially 33.333% each; equal after expansion (1/total units) (Paragraph 8, 16(b))

Amendments

Majority of Owners generally; some amendments require Constitutional Majority and approval of Majority of Mortgagees or 67% of Mortgagees; Declarant may amend alone for specific purposes (conform to Act, expansion, comply with agencies, cor (Paragraph 14)

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