Holiday Addition

Key facts from Holiday Addition's documents

Reflects the 1982 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Subdivision

Units / lots

12 (originally); later 6 lots (Declaration Article I Section 9(a): 'The)

Developer / declarant

Daniel Neese and Lisa Neese (Declaration of Covenants, Conditions and)

Assessments & dues

Initially $ per unit (blank), to be fixed by Board of Directors not exceeding maximum. (Declaration Article IV Section 3)

Special assessments

May be levied for capital improvements with assent of 2/3 of each class voting in person or by proxy. (Declaration Article IV Section 4)

Collections & liens

Assessments are a continuing lien on the property; Association may foreclose lien. Lien subordinate to first mortgage. Sale or transfer does not affect lien; mortgage foreclosure extinguishes prior assessments. (Declaration Article IV Sections 1, 8, 9)

Reserves & fees

Association shall establish and maintain an adequate reserve fund for periodic maintenance, repair and replacement of improvements to common areas, funded from annual assessments. (Declaration Article IV Section 10(a))

Leasing & rentals

Yes; owner may delegate use of Common Area to lessees and contract purchasers; voting rights may be assigned to lessee with copy of lease to Secretary. (Declaration Article II Section 5; Articl)

Architectural approval

Yes, for any building, fence, wall, structure, landscaping, exterior addition or alteration. (Declaration Article V)

Setbacks / home size

1200 square feet ground floor area (exclusive of open porches, garages, basement) (from Indiana restrictions) (DOC 166572, page 2: 'ground Floor area o)

Insurance

Association to obtain property insurance covering Common Area and restricted common areas at 100% replacement cost, with extended coverage and all-risk endorsements. (Declaration Article VII Section 1)

Use restrictions

Units shall be occupied and used by owners only as a private dwelling. (Declaration Article II Section 2(b))

Voting & meetings

Two classes: Class A (owners except Declarant) one vote per unit; Class B (Declarant) three votes per unit. Vote for unit exercised as owners determine, no more than one vote per unit. (Declaration Article III Section 2; Artic)

Amendments

First 20 years: requires 90% of unit owners and consent of 51% of Eligible Holders (mortgagees). Thereafter: 75% of unit owners and 51% of Eligible Holders. Any amendment must be recorded. (Declaration Article VIII 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.