Walden Lake

Key facts from Walden Lake's documents

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

Community type

Condominium (Title 'Walden Lake Condominium'; Article)

Developer / declarant

Benchmark/Snapfinger, LLC (Georgia limited liability company) later referred to as Benchmark/Walden Lake, LLC (Introduction paragraph; Article II(p))

Governing law

Georgia Condominium Act, O.C.G.A. §44-3-70 et seq. (Article I; Article II(a); numerous refer)

Assessments & dues

$1,320.00 per Unit per year (initial) (Article VI Section 4: 'Initially, the An)

Special assessments

Board may levy special assessment for capital improvements or inadequate budget; if average total special assessments in a fiscal year exceed $200 per Unit, must be approved by majority of total Association vote (except for casualty repair) (Article VI Section 6)

Collections & liens

All lawfully assessed sums constitute a lien on the Unit, prior and superior except as provided in O.C.G.A. §44-3-109; Association may foreclose. (Article VI Section 1; Section 7)

Reserves & fees

Board may maintain reserves for repair and replacement of Common Elements improvements (Article VI Section 3 (included in Annual)

Leasing & rentals

Yes (subject to restrictions in Article IX Section 4, not fully copied but referenced) (Article IX title and reference to Sectio)

Insurance

Owner must obtain insurance for portions of Unit not covered by master policy; may be assessed if fails to do so (Article VII Section 1(h))

Use restrictions

Additional Units restricted exclusively to residential use (Article III Section 2: 'Any additional U)

Voting & meetings

Each Unit has one vote (Article III Section 7(h): 'Each Unit has)

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