Lakes at the Crossing Hpr

Key facts from Lakes at the Crossing Hpr's documents

Reflects the 1980 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Horizontal Property Regime) (Paragraph 2)

Units / lots

8 initial units (expandable to maximum 130) (Paragraph 3 (initial), Paragraph 21(a) ()

Developer / declarant

Keystone Lakes Associates, an Indiana partnership (Opening paragraph)

Governing law

Horizontal Property Law of the State of Indiana, Acts 1963, Chapter 349, Sections 1 through 31, as amended (Section 1(a))

Assessments & dues

Not fixed; determined annually by budget approval (By-Laws Sections 2.01, 5.02, 5.03)

Special assessments

May be levied by Board of Managers as necessary (By-Laws Section 5.04)

Collections & liens

Unpaid assessments become a lien as provided in the Act; Association may recover costs and attorneys' fees in enforcement (Paragraph 16(b), Paragraph 26)

Reserves & fees

Board may retain surplus insurance proceeds as reserve or for maintenance (Paragraph 16(g)(iv))

Fences

Fences around patios/porches require written approval of Board of Managers regarding location, size, style, material, design, color, architecture (Paragraph 7(b))

Maintenance

Association (Common Areas include exterior surfaces of roofs) (Paragraph 6(2))

Insurance

Master casualty insurance (fire and extended coverage) for full replacement value of Common Area improvements; also 'all risk' if obtainable; comprehensive public liability insurance; other insurance as required by law (Paragraph 15)

Use restrictions

Each Condominium Unit limited to residential use (Paragraph 17)

Voting & meetings

Each Owner entitled to one vote per Condominium Unit; Percentage Vote equals Percentage Interest (initially equal for all units) (By-Laws Section 2.05(a), Declaration Par)

Amendments

Amendments require 75% of Percentage Vote; special amendments (changing Percentage Interest or reconstruction provisions) require 100% of Co-owners and all known Mortgagees; Declarant may amend unilaterally for Act conformity, expansion, or (Paragraph 18)

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