Neshoba Farms

Key facts from Neshoba Farms's documents

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

Community type

Neshoba Farms P.D. (Planned Development) (Page 1 / title)

Developer / declarant

Albertine Company, LLC and LURIE VISION, LLC

Governing law

Tennessee Nonprofit Corporation Act (Exhibit C, Page 23: under the Tennessee )

Assessments & dues

Maximum $100 per lot per month until December 31, 2022; thereafter set by Board (Article V Section 11)

Special assessments

Yes, may be levied with assent of 2/3 of total votes eligible to be cast, after 10-30 days written notice (Article V Section 3)

Collections & liens

Unpaid assessments become a continuing lien on the lot; Board may foreclose via public sale after 21 days advertisement; proceeds applied to expenses, taxes, prior mortgages, then Association; power of sale granted (Article V Section 5)

Reserves & fees

Association may fund reserves for repairs and replacements (Article V Section 2(b))

Voting & meetings

Each Lot Owner gets 1 vote per lot, except Developer gets 5 votes per lot owned until 5 years after conveyance of first lot (or 3 years per Bylaws), then 1 vote per lot. No vote if more than 60 days delinquent. (Declaration Article III Section 2; Bylaw)

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