Magnolia Square

Key facts from Magnolia Square's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Development (Title: "DECLARATION OF COVENANTS, CONDIT)

Developer / declarant

Magnolia Square Joint Venture

Governing law

Tennessee Nonprofit Corporation Act; laws of the State of Tennessee (Article I Section 1 (Association charter)

Assessments & dues

Maximum $65.00 per Lot per month until December 31, 2001; thereafter fixed by Board (Article VII Section 11)

Special assessments

Yes; requires assent of Members representing two-thirds (2/3) of total votes eligible to be cast; meeting called with 10-30 days written notice (Article VII Section 3)

Collections & liens

Assessment is a continuing lien on the Lot; Association may foreclose via power of sale or suit; sale after 21 days advertisement (3 weekly publications) and written notice; waiver of redemption; proceeds applied to expenses, taxes, prior m (Article VII Section 5)

Reserves & fees

Yes, includes general operating reserve and/or reserve for replacements (Article VII Section 2(d))

Pets

Yes, up to three (4) generally recognized domestic animals (e.g., dog or cat) as household pets (Article IX I)

Architectural approval

Yes, for any structure, fence, barrier, exterior alteration (including paint color, re-roofing), additions, deletions, landscaping changes, or new use (Article VIII Section 2)

Use restrictions

All lots shall be known and described as residential lots; no structure other than one single-family residence and garage and not more than one detached building (Article IX A)

Voting & meetings

Each Owner of a Lot is entitled to one vote per Lot; Developer entitled to three votes per Lot owned for three years after first conveyance, then one vote per Lot (Article III Section 2)

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