Independence of Patrick Farms

Key facts from Independence of Patrick Farms's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title page; Declaration Article I)

Legal name

Independence of Patrick Farms Condominium

Developer / declarant

Independence of Patrick Farms, LLC, a Mississippi limited liability company (Page 5, WITNESSETH)

Governing law

Mississippi Condominium Law (Section 89-9-1 et seq., West's Annotated Mississippi Code, as amended) (Page 6, WITNESSETH)

Assessments & dues

Board of Governors sets uniform rate for all units, may be collected monthly, quarterly, or annually. (Article VI, Section 7: 'fixed at a unifo)

Special assessments

Permitted for capital improvements (with 51% member vote), for insurance deficiencies, owner's failure to maintain, damage caused by owner, excessive use, and other authorized purposes. Payment periods vary (10, 30, or 60 days). (Article VI, Sections 5 and 6)

Collections & liens

Assessments create a continuing lien on the unit. Association may foreclose the lien. Personal obligation of the owner at the time the assessment fell due. (Article VI, Sections 1 and 9)

Reserves & fees

The Association shall establish and maintain an adequate reserve fund for maintenance, repair, and replacement of common elements. (Article VI, Section 2: 'shall include th)

Pets

Allowed, but must be accompanied and under control of the owner when outside the unit. Harboring of pets subject to rules and regulations adopted by the Board of Governors. (Article V, Section 5(e))

Leasing & rentals

Originally allowed with restrictions (minimum 6 months, maximum 24 months, etc.), but amended by Supplement No. 3 to strictly prohibit leasing or rental of any Unit. (Original: Article V, Section 3; Amendmen)

Parking & vehicles

No junk vehicle, trailer, truck, camper, camper truck, house trailer, boat trailer shall be kept on common areas. (Article V, Section 5(h))

Signs & flags

No signs of any character, including 'For Sale' signs, except those posted by Declarant for promotional or marketing purposes, or by the Board of Governors. Exemption for institutional holder. (Article V, Section 5(g))

Use restrictions

All condominium units shall be used for private residential purposes exclusively. (Article V, Section 1: 'shall be used for)

Voting & meetings

Class A Members: 1 vote per unit. Class B Members (Declarant): 4 votes per unit owned for general matters, 1 vote per unit for election of officers. Convert to Class A when total Class A votes equal Class B votes. (Article III, Section 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.