Colony (TN)

Key facts from Colony (TN)'s documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

subdivision (Page 1: "Colony Subdivision")

Developer / declarant

Albertine Company, LLC, a Tennessee limited liability corporation (First paragraph after title)

Assessments & dues

Maximum $25.00 per Lot per month until December 31, 2022; thereafter set by Board as proportionate share of annual expenses (Member's proportionate share is 1/50th of sum required by Association) (Declaration Article V Section 11: "maxim)

Special assessments

May be levied with assent of Members representing two-thirds (2/3) of total votes eligible to be cast, after written notice of meeting at least 10 days but not more than 30 days in advance (Declaration Article V Section 3)

Collections & liens

Unpaid assessment becomes a continuing lien; Board may record notice; foreclosure by suit or power of sale after 21 days advertising by 3 weekly publications; sale subordinate to prior mortgages; proceeds applied to expenses, taxes, associa (Declaration Article V Section 5)

Reserves & fees

Annual expenses include cost of funding all reserves established by Association, including general operating reserve and/or reserve for replacements (Declaration Article V Section 2(b))

Pets

Yes, dogs, cats, or other household pets may be kept, provided not kept, bred, or maintained for any commercial purpose; no other animals, livestock, or poultry (Article VII I)

Fences

All fences to be of wood, brick, or ornamental metal material or combination thereof; constructed in accordance with City of Memphis and Architectural Control Committee (Article VII F)

Architectural approval

Yes, for any structure, fence, barrier, alteration changing exterior appearance, additions, deletions, landscaping changes, or new use; plans and specifications must be submitted to Architectural Control Committee for prior written approval (Article VI Section 2)

Setbacks / home size

Building setback lines shall be as shown on the final plan and/or as required by the City of Memphis and the recorded Plat (Article VII B)

Insurance

Policy may contain a reasonable deductible, amount added to face amount; deductible paid by party who would be responsible for repair in absence of insurance (Article X Section 1)

Use restrictions

All lots residential; only single-family residence and garage per lot, not more than one detached building (Article VII A)

Voting & meetings

Each Lot Owner entitled to one vote per Lot owned; Developer entitled to five votes per Lot owned for first five years, then one vote. Bylaws state Developer entitled to three votes per Lot for first three years, then one vote. (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.