Magnolia Meadows

Key facts from Magnolia Meadows's documents

Reflects the 1991 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential subdivision (Definitions of 'Lot' and 'Common Areas' )

Developer / declarant

Village Developers, Incorporated (First paragraph)

Assessments & dues

Two Hundred Dollars ($200.00) per lot per year (base) (Article II, Clause C, Section 3, Item (i)

Special assessments

Allowed with assent of majority of Class A membership and consent of Class B member (Article II, Clause C, Section 3, Item (v)

Collections & liens

Assessment is a continuing lien on the lot, subordinate to first mortgage; Association may enforce by legal action or foreclosure (Article II, Clause C, Sections 2, 4, 5)

Reserves & fees

Budget may include reserves for capital improvements and operations; Board must annually prepare a capital budget (Article II, Clause C, Section 3, Items ()

Home business

Prohibited (Article IV, Section 2)

Use restrictions

All lands for private residential purposes only; no trade or business conducted on any lot (Article IV, Sections 2 and 3)

Voting & meetings

Two classes: Class A (each lot one vote) and Class B (Declarant one vote until no lots owned). Majority of Class A and affirmative of Class B required for affirmative action unless greater percentage required. (Article II, Clause A, Sections 1-2)

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