Wellesley Place Gp

Key facts from Wellesley Place Gp's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential subdivision (WHEREAS clause (page 1-2): "the Property)

Developer / declarant

Wellesley Place GP, a Tennessee general partnership (Opening paragraph (page 1), Article I Se)

Assessments & dues

Maximum $25 per Lot per month until December 31, 2007. After that set by Board. (Article VII Section 11 (page 12): "Until)

Special assessments

Allowed with assent of 2/3 of total votes eligible to be cast after notice (10-30 days). (Article VII Section 3 (page 9))

Collections & liens

Unpaid assessments become a continuing lien on the Lot. Association can foreclose via power of sale (21-day advertisement, subordination to prior mortgages) or judicial foreclosure. (Article VII Sections 5, 7, 8 (pages 10-1)

Reserves & fees

Association may fund reserves, including general operating reserve and/or reserve for replacements. (Article VII Section 2(d) (page 9): "The )

Pets

Yes, limited to up to three generally recognized domestic animals (e.g., dog or cat). (Article IX I (page 15))

Fences

Fences must be of wood, brick, or ornamental metal material or combination; constructed in accordance with City of Germantown. (Article IX F (page 15))

Architectural approval

Prior written consent of Architectural Control Committee required for any structure, fence, barrier, alteration, landscaping changes, new use. (Article VIII Section 2 (page 12-13))

Setbacks / home size

Building setback lines as shown on final plan and/or as required by City of Germantown. (Article IX B (page 15))

Maintenance

Association: Common Area and Common Improvements (storm water detention, retaining walls, entrance landscaping, etc.). Individual owners: interior and exterior of their lot and improvements, including fences. (Article V Sections 1, 2 (page 7))

Insurance

Association obtains insurance for all insurable common private improvements; public liability policy with $1M per person, $1M per occurrence, $30K property damage; worker's comp; fidelity bond. (Article XI Section 1 (pages 17-18))

Use restrictions

Yes. All lots are residential; only one single-family residence and garage per lot, and not more than one detached building. (Article IX A (page 15))

Voting & meetings

Each Lot Owner one vote per Lot; Developer three votes per Lot owned until 3 years after first Lot conveyance, then one vote per Lot. No vote for holders of security interest. (Article III Section 2 (page 5), Bylaws A)

Amendments

Requires 67% of votes of membership, plus Declarant approval for first 2 years. Declarant may unilaterally amend for 5 years for governmental/lender requirements or for orderly development. (Article XII Section 1 (page 20))

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