Sunset Cove (IN)

Key facts from Sunset Cove (IN)'s documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned community (subdivision) (Recital: "Sunset Cove planned community")

Governing law

Indiana Not-For-Profit Corporation Act of 1991, as amended (Article I, Section 1(a))

Assessments & dues

Proposed annual budget prepared by Board, submitted to Owners at annual meeting; adopted by majority vote; budget may be amended at meeting (Article IX, Section 2(a))

Special assessments

May be made by Board for capital expenditures or for repair/reconstruction after casualty; requires assent of 67% of votes of members voting in person or by proxy at a meeting called for that purpose (Article IX, Section 4)

Collections & liens

Assessments become a lien on each Lot as of first day of fiscal year; lien may be foreclosed as a mortgage; Board may accelerate entire balance; in action to foreclose, owner and occupant liable for reasonable rent; Board may also sue for m (Article IX, Sections 3(c), 5(a))

Reserves & fees

Replacement reserve fund for capital expenditures and replacement/repair of Common Properties; must be maintained in interest-bearing account in Marion or Hamilton County; part of annual budget (Article IX, Section 2(b))

Pets

Pet dogs, cats, or customary household pets may be kept in a Dwelling Unit; no commercial purpose; not a nuisance (Article XIII, Section 1(f))

Architectural approval

If not approved, modified or disapproved in writing within 30 days after application (and all required items submitted), approval deemed denied; decision may be appealed to Board of Directors which may reverse or modify by 2/3 vote (Article VIII, Section 4)

Maintenance

Owner responsible for interior and exterior maintenance of his Dwelling Unit (except as provided); Corporation responsible for maintenance of Common Properties and exteriors of Dwelling Units (roofs, gutters, doors, windows excluding glass, (Article VI, Sections 1 and 2)

Insurance

Master casualty insurance with agreed amount and inflation guard and blanket building endorsement; fire and extended coverage on Common Properties and each Dwelling Unit at full replacement value (excluding floor, ceiling, wall coverings, f (Article XI, Sections 1 and 2)

Use restrictions

All Lots and Dwelling Units shall be used exclusively for residential purposes and for occupancy by a single family (Article XIII, Section 1(a))

Voting & meetings

One vote per Lot; if multiple owners, they share one vote (Article III, Section 2)

Amendments

Original Declaration required affirmative vote of not less than 75% of Owners at a meeting duly called; this Amended and Restated Declaration approved by at least 75% of Owners at a meeting on August 23, 2016 (Recitals)

Amenities

Common Properties include private driveways (streets) and areas designated on plat; no specific recreational amenities mentioned (Article I, Section 1(h); Article II, Sec)

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