Cobblestone (IN)

Key facts from Cobblestone (IN)'s documents

Community type

Covenant / Planned Community

Legal name

Cobblestone of Center Grove Homeowners' Association, Inc.

Governing law

Indiana Nonprofit Corporation Act of 1991, as amended (Section 1.2)

Assessments & dues

Set by Board annually; amount not fixed in document (Section 5.8)

Special assessments

Board may levy special assessments if annual assessments insufficient or for unanticipated Common Expenses (Section 5.11)

Reserves & fees

Reserve Assessment (50% of annual assessment) paid on resale; held as working capital for early operation and unforeseen expenditures (Section 5.10)

Home business

Use of portion of Dwelling Unit as office by Owner or tenant not a violation if Owner complies with Section 7.29 (not provided in excerpt; Section 7.30 likely covers business uses) (Section 7.2)

Setbacks / home size

Ranch: 1000 square feet; Two-Story: 900 square feet on first floor (exclusive of basements, open porches, garages, unheated areas) (Section 7.9)

Insurance

Association shall maintain public liability insurance and fire and extended coverage insurance on Common Areas for full insurable value; may maintain officers/directors insurance (Section 4.3)

Use restrictions

Each Lot shall be used for residential purposes only; no trade or business carried therein (Section 7.2)

Voting & meetings

Each Member has equal voting rights; one vote per Lot; multiple owners of a Lot treated as one member (Section 4.1)

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