Fornes Run

Key facts from Fornes Run's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential Townhome Community (Page 1 subtitle)

Developer / declarant

PORTSIDE DEVELOPMENT COMPANY, LLC

Assessments & dues

Maximum $480 per lot per year initially. (CCR Art III Sec 3)

Special assessments

Allowed for capital improvements with 2/3 vote of each class. (CCR Art III Sec 4)

Collections & liens

Assessment is a continuing lien on the lot; Association may foreclose. Lien subordinate to first mortgage. Sale under foreclosure extinguishes prior assessments. (CCR Art III Sec 1,8,9)

Reserves & fees

Interest at 18% per annum on overdue assessments (1.5% per month). (CCR Art III Sec 8; Bylaws Art XII; Rules)

Signs & flags

For Sale and Open House signs only on the Lot that is for sale. (CCR Art VII Sec 7)

Voting & meetings

Class A: one vote per lot; Class B: Declarant holds three votes for each Class A vote, assessed at 25% rate. Class B ends when total Class A votes equal Class B or Jan 1, 2008. (CCR Art II Sec 2; Bylaws Art III(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.