Swann Cove

Key facts from Swann Cove's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Swann Cove Property Owners Association, Inc.

Developer / declarant

Swann Cove, L.L.C.

Governing law

Delaware law (reference to 6 Del. C. §2301 for interest rate) (Article V, Section 9)

Assessments & dues

First annual assessment $200.00 per year until pool completed, then $450.00 per year or as amended by Association (Article V, Section 3)

Special assessments

Yes, for capital improvements and operating reserve; fixed at one uniform rate per Lot; applicable only that year (Article V, Section 6)

Collections & liens

Assessment is a continuing lien on the Lot; Association may enforce or foreclose lien; personal obligation of Owner (Article V, Sections 1 and 9)

Reserves & fees

Operating reserve and reserve for repair and replacement of Common Areas (Article V, Section 6)

Architectural approval

Architectural Review Committee (ARC) established; Developer initially constitutes ARC; later transferable to Association (Article IV, Section 2(h))

Maintenance

Association maintains Common Areas (including roads, recreation, stormwater); owners responsible for their Lots (Article IV, Section 4(a)-(d))

Voting & meetings

One vote per Lot; one class of membership; Developer considered Owner of each Lot held (Article II, Sections 1 and 2)

Amenities

Pool (mentioned in assessment schedule); recreational areas generally (Article V, Section 3 (pool); Article IV,)

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