Circle Block Condominium

Key facts from Circle Block Condominium's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Recital B: "creates a Condominium upon t)

Units / lots

Multiple (Hotel Unit 1 and multiple Residential Units; exact number not specified in text) (Section 1(r), (ll): Hotel Unit is Unit 1)

Developer / declarant

Circle Block Partners, LLC, an Indiana limited liability company (Preamble and Section 1(q))

Governing law

Indiana Condominium Law, I.C. 32-25-1-1 et seq. (Section 1(a): "Act" means the Condominiu)

Special assessments

Circle Block Special Assessments and Residential Special Assessments are defined and authorized; levied as needed (Section 1(n), (kk); Paragraph 14(h), (i))

Collections & liens

Circle Block Assessments and Residential Assessments constitute liens on each Unit; enforceable by foreclosure; subordinate to first mortgages recorded before delinquency (Paragraph 14(h), (i), (j))

Reserves & fees

$50.00 (Paragraph 14(j): "such Owner shall be ch)

Parking & vehicles

Parking areas designated as Limited Common Areas appurtenant to particular Units or Unit Types (Section 7(b): "vehicular parking areas o)

Architectural approval

Alterations affecting Common Areas require prior written approval of Circle Block Board; alterations affecting Limited Common Areas appurtenant to Residential Units require Residential Board approval; structural alterations by Hotel Unit Ow (Section 15(a)(i), (ii), (iii))

Maintenance

Exterior surfaces of roofs are Common Areas (maintained by Circle Block Corporation) (Section 6(b): "exterior surfaces of roof)

Insurance

Master casualty insurance on common portions, full replacement value; comprehensive public liability insurance; other insurance as required by law (Section 16)

Use restrictions

Residential Units are for residential purposes; Hotel Unit is for hotel use (Section 20: "interfere with the ability )

Voting & meetings

Circle Block Percentage Vote equals Circle Block Percentage Interest (based on unit square footage and limited common area allocations) (Section 1(l), Section 8(b): "Circle Bloc)

Amendments

Amendments require 90% of Circle Block Percentage Vote; changes to percentage interests or allocation of costs require 100%; Declarant may amend alone prior to Applicable Date for conforming to Act, complying with agency requirements, or co (Section 19(d), (f), (g))

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