Bainbridge

Key facts from Bainbridge's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential community (Recitals: "a residential community to be)

Developer / declarant

BMR Properties, LLC

Governing law

Indiana Code relating to nonprofit corporations (Section 7.1)

Assessments & dues

Board prepares budget at least 30 days before fiscal year; Base Assessment equal per Lot; approved by majority vote of Total Vote at annual meeting; if no budget, prior year's budget increased by CPI (Section 8.3)

Special assessments

Two types: (a) entire membership requires 2/3 vote of Total Vote and Class B consent; (b) individual assessment to bring Member into compliance upon Board vote after notice and hearing (Section 8.4(a) and (b))

Collections & liens

Unpaid assessments and additional fees become a lien on the Lot; superior to all liens except taxes and first mortgage of record; enforceable by suit, judgment, and foreclosure; Association may bid at foreclosure sale (Section 8.5)

Reserves & fees

Board shall annually prepare a reserve budget and set required capital contribution (Section 8.6)

Architectural approval

Yes, for exterior changes and improvements; approval from Architectural Standards Committee (ASC) required (Section 1.3, Section 5.2, Section 3.7)

Insurance

Association procures casualty insurance for Common Properties and liability insurance (minimum $1,000,000 per occurrence) (Section 6.1)

Use restrictions

All Lots restricted exclusively to single-family residential use (Section 2.1)

Voting & meetings

One vote per Lot; joint owners cast one vote collectively; Class B Member (Developer) entitled to three votes per Lot owned (Section 4.1 and Section 4.2(a) and (b))

Amendments

Developer's consent required for amendments to Article II as long as Developer owns any property or retains option; Supplemental Declarations may be recorded by Developer or Association (with 2/3 vote and Developer consent for annexation) (Section 2.5, Section 2.6)

Amenities

Retention Pond (Common Area B) (Section 1.29, Section 3.9)

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