Carmeltown

Key facts from Carmeltown's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhouse community (WHEREAS: "Carmeltown townhouse community)

Units / lots

110 (Section 3 (same as total lots, each lot )

Governing law

Indiana Nonprofit Corporation Act of 1991 (Section 7(b) and Section 33(h)(1); also )

Assessments & dues

Board prepares proposed annual budget; if not approved at annual meeting, Board may proceed with budget not exceeding previous year by 5% (Section 33(d): "If the annual budget is )

Special assessments

Requires assent of two-thirds (2/3) of members voting at a meeting called for that purpose with 30 days' notice (Section 33(f))

Collections & liens

Unpaid assessments become a lien on the lot; may be foreclosed; lien subordinate to first mortgages (Section 33(a), (h), (i))

Reserves & fees

Annual budget and assessment must include adequate replacement reserve fund for capital expenditures (Section 33(e): "the annual budget and th)

Pets

Yes, dogs, cats, customary household pets allowed, not for commercial purposes, not a nuisance (Section 11(g): "dogs, cats or customary )

Leasing & rentals

Generally prohibited after February 1, 2005, except for hardship exceptions and grandfathered existing leases (2005 Amendment Section 26.1: "there shal)

Parking & vehicles

Permitted only after at least two conventional vehicles are stored in the owner's garage (Section 11(l): "there must be a minimum )

Architectural approval

Yes, plans must be approved in writing by Architectural Committee (as defined in By-Laws) or Board (Section 22: "submitted to and approved i)

Home business

Permitted only if home professional pursuits without employees; no other commercial, religious, educational activity (Section 11(j): "No industry, trade or co)

Maintenance

Association (Section 21(b): "the Association shall al)

Insurance

Fire and extended coverage insurance on Property including all townhouses, garages, common area buildings at full replacement cost; also comprehensive public liability insurance (Section 24)

Use restrictions

Yes, all townhouses shall be used exclusively for residential purposes and occupied by a single family (Section 11(a): "All Townhouses shall be )

Voting & meetings

One vote per lot owned by an Owner (Section 32: "Each Owner of a Lot shall b)

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