Parkstone Village I and II Homeowners Association

Key facts from Parkstone Village I and II Homeowners Association's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Parkstone Village I & II Homeowners' Association, Inc. (Section 1.02)

Units / lots

Phase I: Lots 16, 38, 39, 40, 63, 64 (6 lots); Phase II: Lots 17–37, 26A, 28A, 41–65 (approximately 42 lots); total ~48 lots (plus common areas) (Exhibit A, pp. 267–270)

Governing law

Tennessee Not-for-Profit Corporation Act (implied) (Preface; Section 2.02)

Special assessments

Permitted, but not further detailed (Article V (implied))

Collections & liens

Association has lien for unpaid assessments; may foreclose; subordination to first mortgages if assessments paid prior to recording of mortgage (Sections 5.11–5.12, 6.02)

Fences

Max height 8 feet; wire or chain link prohibited; prior written approval required (Section 3.12)

Home business

Prohibited (Section 3.04)

Signs & flags

One 'For Sale' sign and one builder sign allowed per lot (ARC approved); no other signs (Section 3.15)

Setbacks / home size

Minimum setbacks as shown on final plats: front 20 ft, rear 15 ft, side 5 ft, side street 20 ft (Phase II); 25 ft front, 15 ft rear, 5 ft side, 20 ft side street (Phase I according to plat) (Exhibit A plats, pp. 269–270)

Maintenance

Association responsible for Common Properties; Owners responsible for their Lots and Homes (Section 2.05, Article V)

Use restrictions

Yes; no multi-family, business, or commercial use (Sections 3.02, 3.03, 3.04)

Voting & meetings

One vote per lot; Community Developer gets three votes per lot owned (Section 4.02 of Bylaws (Exhibit B, p. 27)

Amendments

Prior to transition of governing authority: by Community Developer alone. Thereafter: 75% affirmative vote of Owners in attendance; if affects mortgagees, 75% vote of mortgagees; recorded with certificate (Section 10.02)

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