Gristmill Crossing Residential District

Key facts from Gristmill Crossing Residential District's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Amenity Association for master planned community) (Recitals and Section 6)

Units / lots

At least 400 (based on annual assessment formula dividing budget by 400) (Section 7(C)(2))

Developer / declarant

SMT Amenity Declarant, LLC (appointed by Wilfong Development Company, LLP, M/I Homes First Indiana, LLC, and Paul L. Wilfong) (Recitals)

Assessments & dues

Set annually by Board in Annual Budget; per Lot = lesser of (Annual Budget ÷ 400) or (Annual Budget ÷ total lots) (Section 7(C))

Special assessments

Allowed if annual assessment is inadequate; levied on all Owners (except Exempt) in same allocation as Annual Assessment (Section 7(E))

Collections & liens

Assessments are a continuing lien on each Lot; may be foreclosed like mortgages in Indiana; personal obligation of owner at time due (Section 7(B), (F))

Reserves & fees

Board may establish a reserve fund for replacements from Annual Assessment (Section 7(C)(1))

Maintenance

Amenity Association maintains Amenity Area and Amenities in good condition; owner responsible for damage caused by owner, assessed as Special Assessment (Section 4(B), 4(I), 6(D))

Voting & meetings

A majority of qualified members of the Amenity Board present, but not less than 2 (First Amendment Section 4A (definition o)

Amendments

Before Applicable Date: unilaterally by Amenity Declarant; after Applicable Date: by majority of Amenity Board, with consent of Declarant if affecting Declarant's rights; must be recorded (Section 10(A), (B))

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