Hudson Bay Condominiums

Key facts from Hudson Bay Condominiums's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Hudson Place Condominiums

Developer / declarant

Britton Building & Design, Inc.

Governing law

Indiana Condominiums Act, IC 32-25-1-1 et seq. (Page 1, Paragraph 1: 'under the Indiana )

Assessments & dues

Board of Directors determines Common Expenses; Association collects percentage (Percentage Interest) from each Owner on not less than monthly basis; estimated Common Expenses on calendar year basis. (Page 10, Par. 20: 'Board of Directors sh)

Collections & liens

Unpaid assessments constitute a lien against the Unit; damage caused by Owner's negligence is a lien against Unit. (Page 11, Par. 20: 'a lien against the Un)

Reserves & fees

Association shall maintain and establish a reserve fund for deferred maintenance, repairs, replacements, administration, manager expenses, insurance premiums, etc. (Page 10, Par. 20: 'The Association shall)

Fences

Any fence requires approval; no fence shall be erected except in compliance with Article 21. (Page 11, Par. 21.1: 'Nothing, including )

Architectural approval

Yes; no alterations, additions, improvements to Common Areas or Limited Areas without prior written approval of the Architectural Control Committee (Board serves as committee initially). (Page 11, Par. 21: 'no Owner shall make a)

Maintenance

Roofs of Buildings are part of Common Areas; therefore Association responsible for maintenance/repair. (Page 5, Par. 8 item 2: 'The foundations,)

Insurance

Master casualty insurance for fire and extended coverage, full replacement value of improvements comprising Common Areas; also 'all risk' coverage if obtainable; master comprehensive public liability insurance. (Page 14, Par. 22: 'purchase a master cas)

Voting & meetings

Each Unit Owner entitled to number of votes equal to percentage of ownership in common elements as per Percentage Interest schedule (Par. 14); one vote per Unit; multiple owners cast one vote; proxies allowed; Declarant holds irrevocable pr (Bylaws Page 28, Sec. 2.05(a), (b), (e); )

Amendments

Declaration: must be approved by 75% of Percentage Vote; material amendments require approval of eligible mortgage holders representing 51% of votes of Units subject to mortgages; special amendments by Declarant within 4 years of first Unit (Page 19-20, Par. 25.4, 25.5, 25.6, 25.7)

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