Ladywood Bluff

Key facts from Ladywood Bluff's documents

Community type

homeowners association with condominium regime (Article II, Section 6: "The Development )

Developer / declarant

Oakfield Development II, L.L.C. (Page 1: "This Declaration is made as of )

Governing law

Indiana Nonprofit Corporation Act of 1991 (Article I, Section 1(a): "Act shall mean)

Assessments & dues

proposed budget and Assessment Schedule by Board, approved by majority vote of Owners at annual meeting (Article IX, Section 2: "The annual budge)

Special assessments

requires consent of 51% of votes of Members voting in person or by proxy at a meeting (Article IX, Section 4: "any such assessm)

Collections & liens

Regular and Special Assessments become a lien on each Lot; Board may foreclose as mortgage on real property; also may obtain money judgment (Article IX, Section 5(a): "the lien for )

Reserves & fees

replacement reserve fund for capital expenditures and replacement/repair of Common Properties, maintained in interest-bearing account (Article IX, Section 2: "the establishmen)

Use restrictions

All Lots shall be used for residential purposes unless designated for other use on the Plat (Article XIII, Section 1(a): "All Lots sh)

Voting & meetings

Class A: one vote per Lot for Owners; Class B: Declarant with exclusive voting until Applicable Date (75% of Lots sold) (Article IV, Section 2: "Class A Members.)

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