Courtyard Lakes 2 Or

Key facts from Courtyard Lakes 2 Or's documents

Reflects the 1998 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Recital C: 'create a Horizontal Property)

Legal name

Courtyard Lakes

Developer / declarant

CJB Fishers, L.L.C., an Indiana limited liability company (Page 1, first paragraph)

Governing law

Indiana Horizontal Property Law, Indiana Code 32-1-6-1 et seq. (Section 1 definition of 'Act')

Assessments & dues

not set in Declaration (Not addressed; By-Laws govern)

Special assessments

Mentioned; statement required before sale (Paragraph 21(c): 'statement of all asses)

Collections & liens

Association has lien for unpaid assessments; can foreclose as provided for Common Expenses lien (Paragraph 10(a): cost attributable to de)

Reserves & fees

Required: 'usual and ordinary maintenance and replacement reserve fund' (Paragraph 20)

Leasing & rentals

yes, with restrictions (Paragraph 21(a))

Maintenance

Association (roofs are Common Areas) (Paragraph 6(b))

Insurance

Association carries insurance for fire and other causes; proceeds used for restoration (Paragraph 10(a))

Use restrictions

yes, 'each of the Condominium Units shall be limited to residential use' (Paragraph 13)

Voting & meetings

Each Owner casts Percentage Vote equal to Percentage Interest (1 divided by total number of units); Constitutional Majority = 67% of eligible votes; Majority of Owners = >50% (Paragraph 1 definitions; Paragraph 8: 'P)

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