Gristmill Villas

Key facts from Gristmill Villas's documents

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

Community type

Master planned residential community; amenity association for lots in Neighborhoods (Spring Orchard, Waters Edge, William Trace, Shelton Cove, etc.) (Section 2, definitions (First Amendment )

Units / lots

At least 400 (Annual Assessment per lot = Annual Budget divided by 400 or total number of lots, whichever smaller) (Section 7(C)(2))

Governing law

Indiana law (references Indiana nonprofit corporation law, foreclosure like mortgages in Indiana) (Section 7(F), Articles referencing India)

Assessments & dues

Not fixed; set annually by Amenity Board based on Amenity Association's Annual Budget. Allocation: per lot = (Annual Budget divided by 400) or (Annual Budget divided by total number of non-exempt lots), whichever is less. (Section 7(C)(2))

Special assessments

Amenity Board may levy Special Assessment if annual assessment is inadequate to cover costs in any calendar year after Applicable Date. Allocation same as annual assessment. (Section 7(E))

Collections & liens

All Assessments are a continuing lien on the Lot. Amenity Board may record lien. Amenity Association may foreclose in same manner as mortgages in Indiana. Costs and attorney's fees included. (Section 7(B), (F))

Reserves & fees

Amenity Board may, in its discretion, establish a reserve fund from Annual Amenity Assessment for periodic significant capital repairs, renewals, replacements (Section 7(C)(1)). Also in Annual Budget may include capital reserve (Section 7(I (Section 7(C)(1), 7(I))

Insurance

Public liability and casualty insurance in prudent amounts on Amenity Area and Amenities. (Section 6(E))

Voting & meetings

The Amenity Association has no members (Section 6(A)). Owners do not vote directly; board is appointed. After Applicable Date, board composed of Selected Members from Neighborhood Associations. (Section 6(A), (C))

Amendments

Before Applicable Date: Amenity Declarant may unilaterally amend except where explicitly prohibited. After Applicable Date: amendment by majority vote of Amenity Board at a meeting; but amendments affecting declarant's rights require declar (Section 10(A), (B), (C))

Amenities

Planned amenities: clubhouse (min 1,200 sq ft with changing areas, bathrooms, gathering area, kitchenette), parking lot, larger pool (min 1,250 sq ft), smaller pool (min 250 sq ft), playground area. Subject to Amenity Contribution sufficien (Exhibit C definition of Amenities)

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