Shady Park

Key facts from Shady Park's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Shady Park P.D.

Units / lots

3 initial lots (Lots 1, 2, 3) plus Lot A and Lot B (common area); up to 8 additional lots may be annexed by Declarant (Plat notes; Article X Section 2; First A)

Developer / declarant

Kircher-Belz Builders LLC, a Tennessee limited liability company, with office at 8583 Cordes Circle, Germantown Tennessee, 38139 (Article I Section 2; page 3 of Declarati)

Governing law

Tennessee Nonprofit Corporation Act (for Association) (Exhibit B page 25-26)

Assessments & dues

Not a fixed amount; determined by Board based on estimated annual expenses; uniform rate per lot (1/3 share for each of 3 lots). Additionally, a one-time initial assessment of $500 upon first sale by Declarant. (Article VI Sections 1, 2, 10)

Special assessments

May be levied by Association for capital improvements or other purposes with assent of 2/3 of eligible votes; meeting required with 10 days written notice. (Article VI Section 3)

Collections & liens

Unpaid assessments become a continuing lien on the lot. Association may foreclose via public sale after advertising 21 days with 3 weekly publications and written notice; sale subordinate to prior mortgages; proceeds applied to expenses, th (Article VI Sections 5, 6)

Reserves & fees

Annual assessments include cost of funding reserves, including general operating reserve and/or reserve for replacements. (Article VI Section 2(d))

Pets

Dogs, cats, or other household pets allowed, but not bred or maintained for commercial purposes; no other animals, livestock, or poultry. (Article VIII Section 2(b))

Parking & vehicles

Recreational vehicles, boats, trailers, commercial vehicles, pick-up trucks, etc. must be kept in garage or screened from view. No on-street obstructions. No mechanical work except emergency. (Article VIII Section 2(f), (l), (m))

Architectural approval

Prior written consent of Architectural Committee required for any structure, fence, barrier, alteration of exterior appearance (including paint, re-roofing), additions, deletions, landscaping changes, new uses. (Article VII Section 2)

Signs & flags

One 'For Rent' or 'For Sale' sign not more than 5 square feet per lot allowed; no other advertising signs except Declarant's signs during development. (Article VIII Section 2(c))

Voting & meetings

One vote per Lot; joint owners have one vote exercisable by one owner; no vote if delinquent more than 30 days; mortgagees not entitled to vote. (Article III Section 2, 3, 4)

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