Aberdeen Bend

Key facts from Aberdeen Bend's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

single_family_homeowners_association (Recitals: single family housing developm)

Legal name

Aberdeen Bend

Governing law

Indiana Nonprofit Corporation Act of 1991 (Section 1.D: Association formed under In)

Assessments & dues

Board establishes annual budget before each fiscal year, setting estimates of Common Expenses plus contingencies and reserves; budget mailed to each Owner. Pro-rata Share = 1 / total number of Lots on Plats. (Section 5.D, Section 5.C)

Special assessments

Board may levy special assessments during fiscal year if annual assessments insufficient, or for unanticipated Common Expenses. (Section 5.E)

Collections & liens

Each assessment becomes a continuing lien on the lot, subordinate to prior recorded mortgages. Association may bring action to foreclose lien and collect costs including attorneys' fees. (Section 5B, Section 5I)

Reserves & fees

Annual budget includes allowance for reserves; excess budget may be retained as reserve. (Section 5.D, Section 5.J)

Signs & flags

One sign of not more than five square feet advertising property for sale or for rent; developer signs allowed during Development Period. No other signs. (Section 9A.xii)

Voting & meetings

Class A: one vote per lot owned by Owners (except Declarant). Class B: Declarant has five votes per lot owned until termination. Suspended if Owner 30 days delinquent or in default. (Section 2A.iii.a, 2A.iii.b, 2A.iv)

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