Homestead at Highland Lakes

Key facts from Homestead at Highland Lakes's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Homestead at Highland Lakes Condominium Association (Definitions, item 3)

Governing law

Chapter 5311 of the Revised Code of Ohio (Recitals, opening paragraph)

Assessments & dues

Board estimates costs and prorates among units based on undivided interest in Common Elements (Article XV, Section 3(a)(1)-(2))

Special assessments

Board may levy special assessments for capital improvements; new capital improvements costing >5% of annual budget require 75% unit owner vote and eligible mortgagee consent (Article XV, Section 3(b))

Collections & liens

The cost of collection including attorney fees and out-of-pocket expenses may be charged; assessment liens are created (implied by reference to enforcement); subordination to first mortgages (Section 6) (Article XV, Section 5(b)(iii) and Sectio)

Reserves & fees

Association shall maintain adequate reserve fund for periodic maintenance, repair, replacement of Common Elements; also a working capital reserve and reserve for unexpected repairs/replacements of capital improvements (Article IX, Section 1; Article XV, Secti)

Pets

Yes, household domestic pets, not bred or maintained for commercial purposes (Article III, Section 2(l))

Leasing & rentals

Yes, with restrictions: no transient/hotel use, must lease entire unit, written lease subject to declaration and rules, tenant must comply; Board may limit number of rented units to maintain owner-occupant character (Article III, Section 2(g))

Home business

Permitted only if no customers/employees/licensees/invitees come to the unit; personal business calls/correspondence allowed (Article III, Section 2(a)(i))

Signs & flags

No sign displayed to public view except: (i) on Common Elements approved by Board; (ii) one professionally prepared sign not exceeding 9 sq. ft. on interior side of window advertising unit for sale/rent; (iii) Declarant's signs during initi (Article III, Section 2(h))

Insurance

Unit owners may carry additional insurance but not for perils covered by master policy; may obtain liability, personal property, tenants improvements/betterments; must contain waiver of subrogation as to Association, officers, directors, ot (Article XI, Section 7)

Use restrictions

Yes; units shall be used only as a residence for individuals living together as a single housekeeping unit; no rooming house, group home, etc. (Article III, Section 2(a))

Voting & meetings

As set forth in the Bylaws (not specified in this excerpt) (Article VII, Section 3)

Amendments

Power to amend in Article XIX (text not fully provided, but referenced in index); method to amend (Section 2) not quoted (Article XIX (index) - actual text not in)

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