Cornerstone Park Homeowners Association

Key facts from Cornerstone Park Homeowners Association's documents

Community type

Subdivision (Homeowners Association) (Title page and Article I definitions)

Legal name

Cornerstone Park Homeowners Association, Inc. (Section 1.03)

Developer / declarant

TND-Ragsdale Investments, LLC (Preamble and Section 1.08)

Governing law

Georgia Nonprofit Corporation Code (Section 3.01(a))

Assessments & dues

Set annually by Board based on budget; not a fixed amount (Section 4.04(a)-(c))

Special assessments

Allowed for nonrecurring maintenance or capital improvements with 2/3 vote of members and Declarant approval while Declarant appoints board (Section 4.05(b))

Collections & liens

Unpaid assessments, fines, etc. become a continuing lien on the Lot, superior except to taxes and first mortgages; also a personal obligation of the Owner (Section 4.01(c)-(f))

Reserves & fees

Association may establish and maintain an adequate reserve fund for periodic maintenance, repair, and replacement of Common Property improvements (Section 4.04(d) (last sentence))

Leasing & rentals

Yes; Owner may delegate use of Common Property to tenants; tenants have same delegation rights (Section 2.08)

Fences

Mentioned as possible cause for owner maintenance of rear yard; subject to ACC approval as structure (Section 3.09(ix) and Article V)

Architectural approval

Yes, for any installation, construction, or alteration of any Structure on any Lot (Section 5.01)

Signs & flags

Included in Structure definition; subject to ACC approval (Section 1.15(a))

Voting & meetings

One vote per Lot; if multiple owners, they decide how to cast the vote (Section 3.03)

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