Flatwater Lake Homeowners Association, Inc.

Key facts from Flatwater Lake Homeowners Association, Inc.'s documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Preliminary Statement: Flatwater Lake Ho)

Units / lots

At least 131 lots plus row home units (Lots 1-16, Lots 17-84, Lots 85-131, plus outlots A,B,C,D) (Exhibit A: lists Lots 1 through 16, Lots)

Developer / declarant

Flatwater Lake, LLC, a Nebraska limited liability company (Preamble: "made by Flatwater Lake, LLC, )

Governing law

Nebraska Nonprofit Corporation Act (Article II, Section 3: "all of the power)

Assessments & dues

Maximum of $600 per lot per year or 105% of previous year's dues, whichever is greater (Article II, Section 8: "regular annual d)

Special assessments

Up to $1,000 per Lot per calendar year, increasing by 5% each year regardless of whether assessed (Article II, Section 9: "aggregate specia)

Collections & liens

Yes, Association may foreclose lien on Lot for unpaid dues and assessments (Article II, Section 5 and Section 11: "a)

Reserves & fees

12% per annum interest on delinquent assessments (Article II, Section 11: "shall bear inte)

Pets

Yes, but no dog runs/kennels without DRB permission; no livestock or poultry (Article I, Section 17: "Modest doghouse )

Leasing & rentals

Yes, but minimum lease term of one year; short-term rentals (Vrbo, Airbnb) prohibited (Article I, Section 29: "No residences or)

Parking & vehicles

Personal trailers not allowed on street at any time (per City of Valley) (Rules X.4b: "The City of Valley has a la)

Architectural approval

Yes, Design Review Board (DRB) approval for all improvements including buildings, fences, docks, landscaping, etc. (Article I, Section 2: "All improvements )

Home business

Not explicitly permitted; only residential use allowed unless variance obtained (Article I, Section 1: "exclusively for s)

Signs & flags

Only one sign per lot, max three square feet, advertising Lot or home 'For Sale' (Article I, Section 13: "one sign per Lot)

Setbacks / home size

Front 20 feet, rear 25 feet, side 5 feet; first 10 feet from rear lot line or water's edge maintained natural (Article I, Section 8: "No part of any re)

Maintenance

Owner responsible for Lot improvements, sidewalk, erosion control; Association responsible for common areas, lake maintenance, Wetland mitigation site (Article I, Section 5 (sidewalk), Section)

Insurance

Umbrella liability policy of at least $1,000,000 naming Association, Declarant, Hampton Development Services, Inc., and their officers as additional insureds (Article I, Section 28: "Each Lot Owner i)

Use restrictions

Yes, each Lot used exclusively for single-family lakeside residential use (Article I, Section 1: "Each Lot shall be)

Voting & meetings

Two classes: Class A (each lot one vote), Class B (Declarant gets five votes per lot owned); voting suspended if dues unpaid or for rule violations (Article II, Section 2: "Class A ... one )

Amenities

Lake, boat ramp, playgrounds, parks, roads, pathways, entry areas, green areas, Wetland mitigation site; dock easements for waterfront lots and row home units (Article II, Section 3: "The lake and com)

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