Founders Pointe

Key facts from Founders Pointe's documents

Community type

residential subdivision (HOA) (WHEREAS and Article I)

Governing law

Tennessee Nonprofit Corporation Act (Tenn. Code §48-51-101 et seq.) for Association; Tenn. Code §66-27-701 et seq. for leasing restrictions (Article XII Section 7; WHEREAS reference)

Assessments & dues

Initial annual assessment set by Board at recordation; thereafter set annually by Board (Article VI Section 3)

Special assessments

Allowed by Board unless vetoed by majority of Members eligible to vote within 60 days; failure of quorum does not affect validity (Article VI Section 9)

Collections & liens

Unpaid assessments, fees, and costs constitute a lien on the Lot; enforceable by suit or other proceeding; subordinate to prior mortgages and ad valorem taxes; foreclosure of prior mortgage extinguishes pre-foreclosure assessment liens if p (Article VI Sections 6, 7)

Reserves & fees

Board may consider future maintenance, repair, or replacement of Common Area when setting assessments (Article VI Section 2)

Pets

Yes, dogs, cats, or other household pets; no livestock or poultry (Article VII Section 3(b))

Leasing & rentals

Generally prohibited for owners acquiring title after recordation of this Declaration; prior owners may lease except for short-term rentals; Board may grant exceptions for medical/health reasons (Article VIII Section 1(i)-(iii))

Parking & vehicles

Must be stored in enclosed garage or behind fence in rear yard (Article VII Section 3(f))

Architectural approval

Yes, Architectural Control Committee appointed by Board; approval required for any structure, fence, barrier, change in exterior appearance, changes in landscaping defined as certain items (Article X Section 1, 2)

Home business

Recurring business activity prohibited; telecommuting allowed but not significant increased business traffic (Article VII Section 3(c))

Signs & flags

Advertising signs for sale up to 2'x3'; no 'for rent' signs; political signs allowed per Tennessee Freedom of Speech Act; no other signs except alarm company, school, or as in Rules (Article VII Section 3(c))

Setbacks / home size

Buildings no closer to side property lines or set back lines than permitted by governmental authority or by this Declaration (Article VII Section 3(l))

Maintenance

Association maintains Common Area (private drives, sidewalks, landscaped strips between sidewalks and private streets, common open space); each Lot Owner maintains interior and exterior of their Lot and improvements, including sidewalks alo (Article V Section 1-2; Article VII Secti)

Insurance

Association insures Common Area for fire and extended coverage at full insurable value; public liability insurance on Common Area; may maintain directors' and officers' liability coverage (Article IX Section 1)

Use restrictions

Yes, primarily residential use; common area for amenities (Article VII Section 1)

Voting & meetings

One vote per Lot owned by record owner; entities register representative; trust may be exercised by trustee or beneficiary (Article II Section 2)

Amendments

Amendments require affirmative vote of Lot Owners holding two-thirds (2/3) of all votes (18 Lot Owners); proposed by majority of Board or by 30% of Members; executed by President and Secretary-Treasurer and recorded (Article XI Section 2-3)

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