Winston Island Condo

Key facts from Winston Island Condo's documents

Reflects the 1989 governing documents — figures and rules are as originally recorded and may have changed since.

Units / lots

19 (inferred from 5.26% Percentage Interest each) (Section 1.5: 'The Percentage Interest of)

Governing law

Indiana Horizontal Property Act, IC 32-1-6-1 et seq. (Recital B)

Assessments & dues

Common Expenses shared in proportion to Percentage Interest. Budget prepared for each fiscal year; assessments set accordingly. (Sections 4.2, 4.4, 4.5)

Special assessments

May be made by Board for non‑recurring expenses; if total payment to a unit exceeds four times the most recent monthly assessment, requires approval by Unit Owners as a Special Assessment per By‑Laws Section 5.05. Special Assessments for in (Section 4.7 and Section 8.4)

Collections & liens

Assessments, fines, and costs for owner‑maintenance failures are secured by a lien on the unit. Association may enforce by legal proceedings. (Sections 2.5, 4.5, 6.3, 10.1)

Reserves & fees

Board shall build and maintain reserves for contingencies and replacements, segregated from other funds. Replacement reserve may be used only for replacement or additions to property. Contingency reserve may cover extraordinary expenditures (Section 4.7)

Leasing & rentals

Entire units may be rented; term must be at least thirty (30) days; occupancy limited to lessee and immediate family (or as Board approves). No room or portion may be rented; no transient tenants. All leases must be in writing. (Section 3.3)

Fences

Unit Owner may not construct a fence around a porch or patio without consent of the Association, which may be withheld for any reason. If approved, owner maintains fence. Also subject to general architectural control (Section 7.3). (Section 1.7(b))

Use restrictions

All units are restricted exclusively to residential use. Certain incidental home occupations (professional library, records, phone calls, correspondence, home occupation permitted by zoning) are allowed. (Section 3.1)

Voting & meetings

Class A (all owners except Declarant): one vote per unit. Class B (Declarant): three votes per unit owned until conversion. Class B ceases when Class A votes equal Class B or 5 years from first conveyance. (Section 2.2 & Section 2.3)

Amendments

Amendments require 67% vote of Unit Owners. Certain amendments (voting rights, assessments, etc.) also require 51% of eligible first mortgage holders. Declarant may amend without owner approval for conformity with Act, compliance with mortg (Sections 10.4 and 5.3)

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