Exchange South Building

Key facts from Exchange South Building's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article I, Section 1.1)

Legal name

Exchange South Building Association, Inc.

Governing law

T.C.A. § 66-27-201 through 507 (Tennessee Condominium Act of 2008) (Article I, Section 1.1)

Collections & liens

Association's lien may be enforced like a deed of trust with power of sale under T.C.A. §35-5-101, et seq., with notice to Unit Owner and lienholders (Section 11.2)

Reserves & fees

Association shall establish and maintain an adequate reserve for replacement of improvements to Common Elements and Limited Common Elements, funded from regular assessments (Section 6.5)

Leasing & rentals

A Unit may be leased or rented subject to reasonable requirements of the Board; Board shall not remove right to rent, establish minimum rental term, or preclude rentals permissible under law (Section 9.2(b))

Home business

Permitted as ancillary use: personal professional library, keeping business records, handling business telephone calls (Section 9.1(a))

Signs & flags

No signs or advertising devices visible from exterior, including 'For Sale' signs, except in conformity with Rules and Regulations (Section 9.1(c))

Use restrictions

Units used as residence; professional use ancillary. First floor units facing Riverfront Parkway and Exchange North Building may also be used for retail or office purposes as permitted (Section 9.1(a))

Voting & meetings

Allocated equally to the Units (Section 8.3)

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