Somerset (TN)

Key facts from Somerset (TN)'s documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Developer / declarant

Somerset-Exeter, a Tennessee general partnership, authorized general partner M. Spence Ray (Declaration opening paragraph)

Assessments & dues

Maximum $600 per Lot per year until December 31, 2016 (Section 6.10)

Special assessments

May be levied with approval of Members representing two-thirds of total votes eligible after meeting with 10-30 days notice (Section 6.03)

Collections & liens

Unpaid assessment becomes a lien on the Lot; Association may foreclose by public sale after 21 days publication and written notice; sale subordinate to first mortgage; proceeds applied to expenses, taxes, prior liens, then Association; Owne (Section 6.05)

Reserves & fees

Cost of funding reserves (including general operating reserve and/or reserve for replacements) may be included in annual assessment (Section 6.02(d))

Pets

Yes, dog, cat or other household pet allowed; not kept for commercial purpose; excessive numbers not allowed (Section 8.03(c))

Parking & vehicles

Must be kept within garages (Section 8.03(l))

Architectural approval

Yes, for any structure, fence, barrier, alteration materially changing exterior appearance, or new use; plans and specifications must be submitted (Section 7.02)

Signs & flags

Only one 'for sale' sign per Lot, not more than six square feet (Section 8.03(d))

Setbacks / home size

Minimum 3,200 square feet of heated living space; second story may be counted (Section 8.02(a))

Maintenance

Owner responsible for interior and exterior maintenance, painting, repair and upkeep of Lot and improvements; Association responsible for Common Area maintenance after transfer from Declarant (Sections 5.02 and 5.03)

Insurance

Association shall keep all insurable Common Area Improvements insured against loss or damage by fire for full replacement cost; may obtain other insurance (Section 5.06)

Use restrictions

Lots restricted to private single family detached residential purposes; no subdivision of Lot (Section 8.01 and 8.03(a))

Voting & meetings

One vote per Lot; Declarant has three votes per Lot owned (Section 3.02)

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