Gristmill Residential Disctrict

Key facts from Gristmill Residential Disctrict's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Amenity Center Declaration for a master-planned community (HOA) (Section 2(A): 'Amenity Declarant hereby )

Units / lots

400 (implied by allocation formula dividing annual budget by 400) (Section 7(C)(2): 'the Annual Budget divi)

Governing law

Indiana (references to 'the same manner in which mortgages are foreclosed in the State of Indiana') (Section 7(F))

Assessments & dues

Variable; set by Amenity Board annually. Each lot pays lesser of (Annual Budget / 400) or (Annual Budget / total non-exempt lots). (Section 7(C)(1) and (2))

Special assessments

Yes, if annual budget inadequate (Special Assessment). Also Capital Assessment for capital repairs/replacement, and Violation Assessment for violations or damage. (Section 7(D), (E), (J))

Collections & liens

All assessments are a continuing lien on the lot; Amenity Association may foreclose like mortgages in Indiana. Liens subordinate to first mortgages for payments due more than 6 months before sale. (Section 7(B), (F), (G))

Reserves & fees

Optional; Amenity Board may establish a reserve fund for replacements by allocation from Annual Assessment. (Section 7(C)(1): 'may but shall not be o)

Voting & meetings

The Amenity Association shall not have members; decisions made by Amenity Board. (Section 6(A): 'The Amenity Association s)

Amendments

Before Applicable Date: Amenity Declarant may unilaterally amend (unless prohibited). After Applicable Date: by majority of Amenity Board, but amendments affecting Declarant's rights require Declarant's written consent. Amendments recorded. (Section 10(A), (B), (C), (D))

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