Mainstreet Covenants

Key facts from Mainstreet Covenants's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Units / lots

Lots as shown on plats: Phase I (Plat Slide 493, folios 1-5) and Mainstreet II lots 159–251 (Plat Slide 498, folio 10) – at least 93 lots plus Phase I (Exhibit A, page 21)

Developer / declarant

Greenway Developers, Inc. (and Lot Owners: Fred Williams Homebuilder, Inc., Fred L. Williams, Jr., Genesis Designer Homes, LLC, Konter Homes, Inc.) (page 1, first WHEREAS paragraph)

Assessments & dues

$250.00 per Lot until December 31, 2002. (Article IV, Section 4(a), page 6)

Special assessments

For capital improvements; requires majority vote of Voting Members. (Article IV, Section 5, page 7)

Collections & liens

Assessment lien on Lot; foreclosure like deed to secure debt; attorney's fees 15%; can accelerate all assessments upon foreclosure. (Article IV, Section 9, page 8)

Reserves & fees

Not more than $25.00 for certificate of assessments. (Article IV, Section 8(c), page 8)

Pets

Yes, up to 5 household pets including no more than 2 dogs. (Article VI, Section 8, page 12)

Architectural approval

Design Review Committee (DRC) approval required for any structure, alteration, tree clearing, grade change, etc. (Article V, Section 2, page 9)

Signs & flags

Only contractor sign during construction (max 5 sq ft) or 'For Sale' sign (max 5 sq ft, wooden post) approved by DRC; no other signs; Declarant exempt. (Article VI, Section 15(a)-(c), page 13-1)

Use restrictions

Lots shall only be used for private residential purposes of a single family. (Article VI, Section 2, page 11)

Voting & meetings

Two classes: Class A (all Owners except Declarant) – one vote per Lot; Class B (Declarant) – votes equal to total Class A plus one, until termination upon earlier of 75% Lots conveyed to occupants or 5 years from recording date. (Article III, Section 2(a)-(b), pages 4-5)

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