The Courtyard Homes at Sycamore Springs

Key facts from The Courtyard Homes at Sycamore Springs's documents

Reflects the 1999 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned_unit_development (Recital B: fifty-four (54) Lots; Section)

Legal name

The Courtyard Homes At Sycamore Springs

Developer / declarant

The Courtyard Homes At Sycamore Springs, an Indiana limited liability company

Assessments & dues

Guaranteed yearly Regular Assessment for Fully Assessed Lot shall not exceed $1,500.00 until December 31, 1999; thereafter adjusted by CPI or 10% annually (Paragraph 18(e): yearly Regular Assessme)

Special assessments

Board may make Special Assessments for unusual expenses; no approval of Owners required except prior to Applicable Date requires Declarant and Secondary Declarant approval (Paragraph 18(d) and last sentence)

Collections & liens

Regular and Special Assessments become a lien on the Lot; Section D Corporation may foreclose as a mortgage; may accelerate entire balance (Paragraph 18(g) and 18(c) (lien as of fi)

Reserves & fees

Replacement reserve fund for capital expenditures and replacement of Common Area; must be at least 10% of Regular Assessment; held in separate interest-bearing account (Paragraph 18(b) and 18(e))

Architectural approval

Architectural control governed by Overall Declaration; no specific ARC in this Section D Declaration (Paragraph 17: Architectural control gove)

Signs & flags

Declarant or Secondary Declarant may put signs for construction and sales until Applicable Date; no other sign rules stated (Paragraph 22 last paragraph: signs allow)

Setbacks / home size

1,566 square feet exclusive of basements, patios, porches and garages (Paragraph 22(a))

Maintenance

Owner responsible for Dwelling Unit, all structural improvements except as assigned to HOA; HOA responsible for exterior of Dwelling Units (ordinary wear and tear) including painting, and landscaping on Lots, snow removal, trash removal, co (Paragraph 16 first two paragraphs and Pa)

Insurance

Section D Corporation purchases master casualty insurance for Common Area at full replacement value; also public liability insurance (Paragraph 20(a) and (b))

Use restrictions

Implied; Dwelling Units are living units on Lots; no commercial use stated explicitly but Declarant may use for sales offices, model homes, etc. (Paragraph 22 last paragraph: Declarant o)

Voting & meetings

Class A Members (all Owners except Class B) have one vote per Lot; Class B Members (Declarant, Secondary Declarant and designees) have ten votes per Lot until Applicable Date (Paragraph 11(b))

Amendments

After Applicable Date: proposed by Board or 10% of Owners; adopted by 60% of quorum; Mortgagee notified; prior to Applicable Date: requires written consent of Declarant. Declarant may also amend alone for certain purposes (compliance with a (Paragraph 23)

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