Lauren Falls Subd

Key facts from Lauren Falls Subd's documents

Community type

Covenant / Planned Community

Legal name

Lauren Falls Subdivision

Developer / declarant

Young Tract, LLC, a Mississippi limited liability company (Page 4, WHEREAS paragraph)

Governing law

Mississippi Code of 1972 (as amended), Section 89-1-55 et seq. (for nonjudicial foreclosure) (Section 3.08)

Assessments & dues

Initial maximum Per-Lot Regular Assessment Amount is $1,000 per Lot per year. (Section 3.05(a))

Special assessments

Special Purpose Assessments for capital improvements and unanticipated expenses; require Special Quorum approval if for capital improvement or Common Services. Special Member Assessments may be levied on a Member for damage caused by that M (Sections 3.03, 3.04, 3.05(d))

Collections & liens

Assessment Lien secures unpaid Assessments, interest, late charges, violation fines, and collection costs (including attorneys' fees). Lien attaches upon filing of Declaration, may be enforced by judicial or nonjudicial foreclosure per Miss (Section 3.08)

Reserves & fees

If Assessment unpaid for 30 calendar days after due date, a late charge determined by Board to offset administrative costs is assessed monthly (or portion thereof). (Section 3.05(c))

Pets

Dogs (excluding pit bulls and rottweilers), cats, or other household pets permitted; not for commercial purposes. (Section 6.21)

Parking & vehicles

Trucks with tonnage in excess of one (1) ton shall not be permitted to park overnight within the Property. (Section 6.18)

Setbacks / home size

Front, side, and rear setbacks as specified by the City of Biloxi and as shown on the Plat, unless allowed otherwise by City and ACC. (Section 6.13)

Use restrictions

All Lots shall be used and occupied for private single-family residential purposes only. (Section 6.02)

Voting & meetings

Class A Members: one vote per Lot (multiple owners of a Lot only one vote if agreed). Class B Member (Declarant): ten votes per Lot until Declarant and affiliates own less than two Lots, then becomes Class A. (Section 2.04)

Amendments

Amendment procedure referenced in Article 9.03 (text not fully provided); likely requires approval of a percentage of members. (Section 9.03 (title only visible))

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