Beech Place

Key facts from Beech Place's documents

Community type

single family residential subdivision (WHEREAS, Developer is the owner of certa)

Developer / declarant

L.A. Construction & Development, LLC

Assessments & dues

Maximum $200 per lot until December 31, 2001 (Section 5.3A: maximum annual assessment )

Special assessments

Yes, for capital improvements, with assent of members in accordance with Bylaws (Section 5.4: Special Assessment for Capi)

Collections & liens

Assessment creates a lien on the lot, enforceable by foreclosure in the manner mortgages are foreclosed; lien subordinate to first mortgage (Section 5.1, Section 5.7, Section 5.8)

Reserves & fees

Late charge as determined by the Association’s Board of Directors (Section 5.7: subject to a late charge as)

Home business

No trade or business, including medical practices; exception for builder's model home office with Developer approval for up to 12 months (Section 2.9)

Use restrictions

No lot shall be used except for private single family residential purposes (Section 2.1)

Voting & meetings

Two classes: Class A (lot owners) one vote per lot; Class B (Developer) one vote per lot. Class A voting begins at earliest of Developer discretion, 70% lots conveyed, or June 30, 2002. (Section 4.2)

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