Youngtown

Key facts from Youngtown's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential single-family, townhome community (WHEREAS, the Declarant intends to develo)

Legal name

Youngtown Subdivision Lot Owners Association, Inc.

Developer / declarant

SR8 PROPERTIES, LLC (Declarant is SR8 PROPERTIES, LLC, a Geor)

Governing law

Georgia Property Owners’ Association Act, O.C.G.A. § 44-3-220 et seq. (THIS DECLARATION ESTABLISHES A MANDATORY)

Assessments & dues

Board prepares annual budget of common expenses, submits to members, and sets annual assessment based on that budget. If budget not made, prior year assessment continues. Board may also levy further assessments if budget inadequate. (Section 4.2)

Special assessments

May be levied for construction/reconstruction/inordinate repair of Common Areas, with majority vote if average exceeds $250 per lot per fiscal year. Also for inadequate budget (over $250 per lot needs majority vote). Also special assessment (Section 4.2 (special assessment for inad)

Collections & liens

Each assessment is a continuing lien on the Lot. Lien priority: prior to all except ad valorem taxes, first mortgage, secondary purchase money mortgage (if grantee not seller), and prior recorded mortgages. Foreclosure allowed if principal (Section 4.1 (creation of lien), Section )

Reserves & fees

Association shall establish and maintain a reserve fund for replacement of improvements on Common Areas and Easement Areas, major repairs to parking/sidewalks, equipment replacement, insurance deductibles, start-up expenses and operating co (Section 4.4: The Association shall estab)

Maintenance

Association responsible for maintenance, repair, replacement, landscaping of Common Areas and Easement Areas, including storm water detention, entrance features, fences, irrigation, lighting, and any portion of Lots as required by Declarati (Section 4.2(f) (common expense includes )

Insurance

Policies may contain reasonable deductibles; deductible amounts added to face amounts to determine full replacement cost. (Section 6.1(c): All Property insurance p)

Voting & meetings

Each Lot entitled to one vote; only one vote per Lot regardless of number of owners (Article III: Lot shall be entitled to on)

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