Kesslerwood Lakes East

Key facts from Kesslerwood Lakes East's documents

Reflects the 1986 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Declaration of Covenants and Restriction)

Legal name

KESSLERWOOD EAST LAKE ASSOCIATION, INC.

Developer / declarant

LKI Holdings, Inc., an Indiana Corporation (Opening paragraph)

Assessments & dues

Maximum $125.00 per Lot until January 1, 1988; thereafter Board may increase by greater of 10% or CPI without membership vote; additional increase requires two-thirds vote of Class A and B and affirmative vote of all Class C. (Article V, Section 2(b) and (c))

Special assessments

May be levied for capital improvements or extraordinary operating expenses; requires assent of two-thirds of Class A and B votes cast and affirmative vote of all Class C members. (Article V, Section 3)

Collections & liens

Assessments are a continuing lien on the Lot; Association may bring action to foreclose lien. No Owner may waive liability by non-use or abandonment. Lien subordinate to first mortgage. Sale or transfer pursuant to foreclosure of first mort (Article V, Sections 1, 5, 6)

Leasing & rentals

Yes, after the first five years of ownership. (2018 Amendment, Article VII, Section 1(h)

Architectural approval

Prior written approval of Architectural Review Board required for any improvements, excavation, changes in grade or other work on Common Area or on any Lot, including buildings, structures, hedges, fences, docks, shoreline alterations. (Article VI, Section 3; 2012 Amendment, S)

Use restrictions

true (implied by definition of Living Unit as designed for use as a residence) (Article I, Section 1.G (Living Unit defi)

Voting & meetings

Class A (1 vote per lot for detached dwellings in Lake Kesslerwood East Estates), Class B (1 vote per lot for attached dwellings in Future Development), Class C (Declarant/Developer: 3 votes per lot owned plus 5 votes per 1/3 acre of undeve (Article IV, Sections 3 and 5)

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