Heritage Square Hpr

Key facts from Heritage Square Hpr's documents

Community type

commercial condominium (WHEREAS Recitals (page 3): "commercial u)

Legal name

HERITAGE SQUARE HORIZONTAL PROPERTY REGIME

Developer / declarant

B & F REALTY CO.

Governing law

Horizontal Property Law of the State of Indiana, I.C. 32-1-6-1, et seq. (Article I(a))

Assessments & dues

By Board, proportionate to Percentage Interest; set as Common Expenses for maintenance, repair, administration, operation. (Article IV Section 5)

Collections & liens

Unpaid common expenses constitute a lien on the unit per the Act. (Article IV Section 5 (page 12) and Artic)

Reserves & fees

12% per annum on overdue amounts (Article VIII (remedies) - page 32)

Leasing & rentals

Yes; Declarant may lease units; no specific restrictions on owners leasing, but all grantees accept subject to declaration. (Article VI Section 10(a) (Declarant's ri)

Architectural approval

Yes; Board written approval required for any alteration to Common Areas or any alteration to unit affecting structural integrity or safety. (Article IV Section 13)

Maintenance

Board responsible for exterior surfaces of roofs of Building. (Article III Section 1(2) (Common Areas i)

Insurance

Owner responsible for insurance on contents of unit, additions/improvements, decorating, furnishings, personal property stored elsewhere, and personal liability. Must include waiver of subrogation. (Article IV Section 9; Article VII Sectio)

Voting & meetings

Percentage Vote equal to Percentage Interest; each unit's vote is 1 divided by total units (initially 12.5% each) (Article I(q) and Article III Section 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.