Lake Ridge Crossing Homeowners' Association, Inc.

Key facts from Lake Ridge Crossing Homeowners' Association, Inc.'s documents

Reflects the 1994 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (DOC 18167 Section 1.1)

Legal name

Lake Ridge Crossing Homeowners' Association, Inc.

Governing law

Indiana Nonprofit Corporation Act of 1991 (DOC 18167 Section 1.1)

Assessments & dues

Not fixed; determined by annual budget. Initial $25.00 per month per lot starting May 1, 1995 (CC&Rs). (DOC 18168 Section 37)

Special assessments

Allowed if regular assessments inadequate; approved by majority of votes present at special meeting; due within 15 days unless otherwise provided (DOC 18167 Section 9.3)

Collections & liens

Regular and Special Assessments become a lien on each lot as of due date; Board may foreclose lien, with costs including reasonable attorneys' fees; may appoint receiver (DOC 18167 Sections 9.2, 9.3, 9.7)

Reserves & fees

Board shall establish and maintain a replacement reserve fund for capital expenditures, kept in separate interest-bearing account in Vanderburgh or Warrick County bank (DOC 18167 Section 9.4)

Pets

Dogs, cats, and other household pets allowed; not bred or raised for commercial purposes (DOC 18168 Section 13)

Architectural approval

Committee must approve or disapprove within 15 days after submission of Plan; failure to act within 15 days is a disapproval; approval must be in writing (DOC 18168 Section 4)

Home business

Allowed if no employees and not more than two persons other than owner/occupant use premises in any one hour (DOC 18168 Section 2)

Signs & flags

Only signs by Developer for advertising, subdivision identification signs, one sign not exceeding 5 sq ft for sale/rental, and one lot sign with lot number, address, owner name not exceeding 5 sq ft (DOC 18168 Section 22)

Setbacks / home size

Varies by neighborhood: Bent Tree: 1-story 1,800 sf, 1.5/2-story 2,200 sf (1,200 sf first level); Woodbridge Trail: 1-story 2,200 sf, 1.5/2-story 2,800 sf (1,600 sf first level); The Estates: 1-story 3,000 sf, 1.5/2-story 3,800 sf (2,100 sf (DOC 18168 Section 3.j)

Use restrictions

Yes, all lots for residential purposes only; no business, commercial, or industrial use except limited home business (no employees, max 2 non-residents per hour on premises) (DOC 18168 Section 2)

Voting & meetings

One vote per lot or building site owned; multiple owners must designate one voting representative (DOC 18167 Section 3.5.A and 3.5.B)

Amendments

By-Laws may be amended by vote of not less than 80% of total voting power of members, at annual or special meeting called for that purpose (DOC 18167 Section 13.1)

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