Franklin Gardens All

Key facts from Franklin Gardens All's documents

Reflects the 1999 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Developer / declarant

C.P. Morgan Communities L.P.

Governing law

Indiana Nonprofit Corporation Act of 1991, as amended (Declaration Section 1.B)

Assessments & dues

Board establishes annual budget before each fiscal year, sets assessments based on Pro-rata Share (1/total number of lots) (Declaration Section 5.C, 5.D)

Special assessments

Board may levy special assessments for unanticipated common expenses or deficits (Declaration Section 5.E)

Collections & liens

Unpaid assessments become a lien on the lot; Association may foreclose; lien subordinate to prior recorded mortgages (Declaration Section 5.H(i), 5.H(ii))

Reserves & fees

Budget includes a reasonable allowance for reserves (Declaration Section 5.D)

Architectural approval

Prior written approval of Development Control Committee for any dwelling, building, fence, exterior painting (except repainting same color), or exterior improvement (excluding landscaping) (Declaration Section 3.A)

Home business

Only home occupations permitted in the Zoning Ordinance of Indianapolis, Indiana (Plat Covenants page 1)

Maintenance

Association responsible for Common Areas, medians, landscape easements, entry features; owner responsible for driveway maintenance after original construction, maintaining lot per restrictions, keeping drainage easements free (Plat Covenants pages 3-4; Declaration Se)

Insurance

Association shall maintain public liability insurance; may maintain fire, windstorm, vandalism, extended coverage on Common Areas; may maintain fidelity bond covering at least one year's assessments (Declaration Section 2.D)

Use restrictions

All lots used solely for residential purposes; no business buildings; home occupations permitted by Zoning Ordinance only (Plat Covenants page 1; Declaration Secti)

Voting & meetings

One vote per lot; each lot collectively one Member; equal voting rights (Declaration Section 2.A)

Amendments

Amendments require 75% vote of all Owners; during Development Period Developer approval also needed; special amendments (changing assessments) require unanimous approval of Owners and mortgagees; must be recorded; Developer may amend unilat (Declaration Section 10.A, 10.B)

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