Ambassador Park North Recorded Corrected Amended And

Key facts from Ambassador Park North Recorded Corrected Amended And's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium Ownership under Indiana Horizontal Property Act (Preamble and Article I)

Legal name

Founders Square North Association, Inc.

Units / lots

Not explicitly stated; rental cap of 13 homes implies at least that many (Section 3.12(a) (max 13 leased homes))

Developer / declarant

Herman Development Group, Inc.

Governing law

Indiana Horizontal Property Act (the 'Act') (Preamble)

Assessments & dues

To be set by Board or Declarant sufficient to cover anticipated expenses; first year established by Declarant (Sections 4.5(a), 4.10)

Special assessments

For unusual/extraordinary items; requires assent of 2/3 votes of members present or proxy at meeting called for purpose (Section 4.8)

Collections & liens

Unpaid assessments, late fees, interest, costs, and attorney fees constitute a lien on the Home; prior to all liens except tax liens and first mortgage of record; may be foreclosed like a mortgage (Sections 4.5(c), 4.12)

Reserves & fees

Included in Annual Assessment (to cover all anticipated expenses including reserves) (Section 4.5(a))

Pets

Yes, dogs, cats, or other household pets may be kept in respective Homes, not for commercial purposes, not endanger health or unreasonably disturb others (at Board's discretion) (Section 3.4)

Leasing & rentals

Yes, entire residences may be rented, not less than one month (Section 3.9) but Section 3.12(b) requires minimum one year lease unless Board approves shorter (Sections 3.9, 3.12(b))

Parking & vehicles

Prohibited: includes flat tires, improper registration, broken windows, covered by tarp, no current license plates (Section 3.13)

Architectural approval

For any exterior addition, change, alteration, building, fence, wall, or any change in appearance or color; plans and specifications must be submitted to Board or architectural committee (Section 7.3)

Home business

Prohibited: 'No business activities of any kind whatever shall be conducted in any building or in any portion of the property' (Section 3.5)

Signs & flags

Only normal 'for sale' signs allowed; no advertising signs, billboards, unsightly objects (Section 3.5)

Use restrictions

True (Section 3.1: 'restricted exclusively to )

Voting & meetings

Based on percentage interest in Common Areas; each Home's vote equals its percentage interest (Section 2.3)

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