Woods of Oakvale

Key facts from Woods of Oakvale's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

homeowners_association (Article III, Section 1 - Association cre)

Developer / declarant

PARKWAY OF LITHONIA, LLC (Preamble)

Governing law

Georgia Nonprofit Corporation Code; Georgia Limited Liability Company Act (Preamble and Article III, Section 1)

Assessments & dues

$40 per Lot (initial maximum for Class A) (Article IV, Section 3(a) - "maximum init)

Special assessments

Allowed with affirmative vote of holders of 51% or more of votes entitled to vote of all classes (Article IV, Section 4 - "affirmative vot)

Collections & liens

Unpaid assessment becomes a continuing lien on the Lot; Association may foreclose the lien in equity (Article IV, Section 7)

Reserves & fees

Interest at highest rate permitted by law from date of delinquency (30 days after due); if legal action taken, attorney's fees equal to 10% of principal added (Article IV, Section 7(b))

Home business

Permitted if incidental to primary residential use and allowed by DeKalb Code (Article II, Section 1 - proviso)

Insurance

Fire, extended coverage, vandalism, malicious mischief (full replacement cost) and public liability insurance for Conservation Easements (Article VI, Section 1)

Use restrictions

All Lots shall be used for residential purposes; no business or business activity except incidental home office permitted per DeKalb Code (Article II, Section 1)

Voting & meetings

Two classes: Class A (lot owners except Developer) nonvoting until full voting event; Class B (Developer) full voting. Class A gets full voting on Nov 1, 2006 or when Class B designates in writing. Each Lot one vote. Multiple owners determi (Article III, Section 3)

Amendments

During initial 20-year period: 90% of lot owners (other than Developer) or Developer unilaterally if owns lots; after 20 years: 75% of lots. Requires mortgagee consent if rights affected. Must be recorded. (Article VIII, Section 1)

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