Homewood Place

Key facts from Homewood Place's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Units / lots

12 (Lots 1 through 12 inclusive) (Article I, Section 1.1; Article II, Sect)

Developer / declarant

Homewood Place Partners, LLC, a Tennessee limited liability company (Article I, Section 1.1; Article II, Sect)

Governing law

Tennessee Nonprofit Corporation Act (referenced for corporate governance, indemnification, etc.) (Bylaws, Sections 6, 10, 11; Article II S)

Assessments & dues

Not fixed; determined by Board. After January 1, 2018, each Owner pays annual assessment (pro rata for partial year) as determined by the Association. All Lots bear same assessment. (Article IV, Section 4.2(a)-(b))

Special assessments

Assessments may be levied for capital improvements. (Article V, Section 5.1)

Collections & liens

Unpaid assessments, late charge, interest secured by lien on the Lot. Association may file lien and enforce by public sale (non-judicial power of sale) or court action. Sale after advertising per Tennessee laws on deeds of trust. Lien prior (Article V, Section 5.2)

Reserves & fees

10% late charge on unpaid assessments. (Article V, Section 5.2)

Parking & vehicles

Prohibited from parking in common parking spaces and on Private Drive (recreational vehicles, commercial vehicles, campers, boats, four-wheelers, hobby vehicles, inoperable vehicles, and commercial vehicles are not allowed in Access Easemen (Article IV, Section 4.1(a)(i); Article V)

Fences

All fences are the responsibility of each individual Lot Owner. Fencing requires ARC approval. (Article IV, Section 4.1(b); Exhibit C, A)

Architectural approval

Declarant must approve all homes, buildings, structures, fencing, paving, landscaping, lighting, tree removal, outbuildings, pools, garages, and any permanently installed improvement. Written approval required before construction. (Exhibit C, Architectural Review (Page 28)

Maintenance

Association maintains Common Areas, Private Drive, improvements in Easements, erosion control. Individual owners maintain their own fences. (Article IV, Section 4.1; Article IV, Sec)

Voting & meetings

One vote per Lot. Joint owners have only one vote per Lot; if unable to agree, no vote. Cumulative voting not permitted. (Article IV, Section 4.4; Bylaws, Article)

Amendments

Until Declarant delivers Transfer Notice, Declarant may amend in its sole discretion. Thereafter, amendment requires instrument signed and acknowledged by Owners of not less than 80% of all Lots, effective upon recording. (Article VI, Section 6.1)

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