Grace Woods Homeowners Assn

Key facts from Grace Woods Homeowners Assn's documents

Community type

Covenant / Planned Community

Legal name

Grace Woods Homeowners' Association, Inc.

Developer / declarant

Indian River County Habitat for Humanity, Inc.

Governing law

Florida Statutes (reference to §617.303(7)) (Article IX, Section 6 - Financial Report)

Assessments & dues

Board adopts annual budget and sets General Assessment (Article IX, Section 4(b); Article X, Sec)

Special assessments

Allowed for capital improvements (if >25% of budget, membership vote required) and emergency (by 2/3 Board vote) (Article X, Section 5)

Collections & liens

Assessment Charge is a continuing lien on the lot; Association may foreclose (Article X, Section 7)

Reserves & fees

Required; must be accumulated and maintained, included in annual budget, kept separate from other funds (Article IX, Sections 3 and 8)

Home business

Prohibited (Article IV, Section 10: 'no business may)

Use restrictions

Prohibited: unclean or untidy conditions, obnoxious odors, noise disturbing peace (Article IV, Section 4)

Voting & meetings

Two classes: Class A (1 vote per lot), Class B (Declarant, 3 votes per lot owned) (Article VII, Section 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.