Iron Creek Townhomes

Key facts from Iron Creek Townhomes's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Iron Creek Townhomes

Units / lots

10 townhome lots (Lots 2 through 11); plus Lot 1 excluded unless redeveloped as townhomes; plus Tracts A through C (Exhibit A reference, Legal Description, )

Developer / declarant

Iron Creek, LLC

Governing law

Missouri Nonprofit Corporation Law (Article One II)

Assessments & dues

Board prepares budget before January 1 each year and establishes annual assessments by resolution; notice to owners at least 30 days in advance (Article Six II, VI A)

Special assessments

Allowed for capital improvements or prior year deficit; with Class B approval while Declarant is Class B member; after termination, requires 51% vote of Class A members at special meeting (Article Six III)

Collections & liens

Unpaid assessments become a continuing lien on the lot, superior to other liens except valid first mortgages; enforceable in court; association may foreclose or sue; also may record certificate of nonpayment (Article Six VII A, B)

Reserves & fees

Contingency and other reasonable reserve funds as determined by Board (Article Six II D)

Pets

Yes, limited to not more than two household pets (Article Nine VII)

Leasing & rentals

Permitted if made in accordance with rules and regulations promulgated by the Board, which may require written approval; Declarant exempt from approval (Article Nine I)

Parking & vehicles

Prohibited except temporarily; no vehicle regularly parked continuously for more than 24 hours on any street (Article Nine X)

Architectural approval

Yes, prior written consent of the Board (or Architectural Review Committee) for any improvement, alteration, painting, fencing, etc. (Article Seven V, Article Nine II, XI, XI)

Maintenance

Association: repair or replacement of roofs (not including rafters, sheeting or other substructure) (Article Seven II A 2)

Insurance

Casualty insurance covering exterior and structural portions of Townhome Units and improvements on Common Area, full replacement value (100% replacement cost exclusive of land, foundation and excavation), with extended coverage and agreed a (Article Five I)

Use restrictions

Each Townhome Unit shall be used solely for a private residence of no more than one family unit (Article Nine I)

Voting & meetings

Class A Members: one vote per lot owned (if multiple owners, one vote per lot); Class B Member (Declarant): three votes per Townhome Unit that may be constructed, forfeited upon sale of unit (Article Two I A, B)

Amendments

Initial term 30 years from recording, then automatically extended for 15-year periods unless 67% of Class A votes abolish/change; Declarant can amend unilaterally while Class B member without notice or consent; also Declarant may amend befo (Article Eleven II, III, IV)

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