Eagles Nest (TN)

Key facts from Eagles Nest (TN)'s documents

Community type

Covenant / Planned Community

Legal name

Eagles Nest Community Association (Section 1.iv)

Developer / declarant

Diversified Environmental Solutions LLC (Preamble)

Assessments & dues

Maximum $500.00 per Lot until January 1 following first Lot conveyance; thereafter Board may increase up to 10% per year without vote, or more with 2/3 vote of each class (Section 8)

Special assessments

May levy special assessment for capital improvements with assent of 2/3 of each class voting (Section 9)

Collections & liens

Annual and special assessments are a continuing lien on the Lot, plus personal obligation of Owner. Lien subordinate to first mortgage. Sale under mortgage foreclosure extinguishes lien for prior assessments, but subsequent assessments surv (Section 5 and Section 12)

Reserves & fees

Association shall establish and maintain adequate reserve fund from regular assessments for periodic maintenance, repair, replacement of Common Area improvements. (Section 7)

Pets

Yes, subject to Board rules and regulations; Board may limit number and type of animals (Section 19.D)

Leasing & rentals

Vacation rental occupancy allowed under Tennessee Vacation Rental Act as incidental/accessory to residential use (Section 19.B)

Parking & vehicles

Prohibited (Section 21.B: 'No vehicles or trailers s)

Fences

Chain link fencing not visible from street (Section 21.D)

Architectural approval

Plans and specifications for any building, fence, wall, driveway, impoundment, or other improvement must be submitted to and approved in writing by Architectural Committee as to harmony of design and location (Section 20)

Setbacks / home size

Conform to Polk County Zoning Regulations (Section 21.A)

Insurance

May contain reasonable deductible (Section 18.D)

Voting & meetings

Two classes: Class A (each Owner one vote per Lot, except Declarant); Class B (Declarant four votes per Lot owned). Class B converts to Class A upon earliest of: Class A votes equal 4x Class B, Dec 31, 2014, or surrender. (Section 4)

Amendments

By approval of 2/3 of each class of Members; Declarant may amend for annexation or technical amendments without adversely affecting Owner rights. Amendments delivered to Board, which certifies validity. (Section 24.C)

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