Ashford Ridge

Key facts from Ashford Ridge's documents

Community type

Covenant / Planned Community

Legal name

Ashford Ridge

Developer / declarant

Ashford Ridge Development Corporation, an Indiana corporation (Preamble, page 1)

Assessments & dues

Board establishes annual budget prior to fiscal year, including Common Expenses, contingencies, and reserves. Pro-rata share per Owner is one divided by total number of Half-Lots conveyed by Declarant. (Article VIII, Sections 3 & 4, pages 13-1)

Special assessments

Board may levy special assessments at any time if annual assessment is insufficient or for unanticipated Common Expenses. (Article VIII, Section 5, page 14)

Collections & liens

Unpaid assessment is a continuing lien on the Half-Lot from due date. Association may foreclose the lien. Lien is subordinate to prior recorded mortgages. (Article VIII, Sections 2 & 9, pages 13, )

Reserves & fees

Annual budget includes a reasonable allowance for contingencies and reserves. (Article VIII, Section 4, page 14)

Signs & flags

One professionally manufactured sign of not more than five square feet advertising property for sale or rent is allowed. (Article III, Section 11, page 5)

Voting & meetings

Class A members (Owners) have one vote per Half-Lot. Class B member (Declarant) has three votes per Half-Lot owned until conversion. Class B membership ceases when Class A votes equal Class B or on Jan 1, 1994, whichever earlier. (Article IX, Section 2, page 16)

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