Peabody Green

Key facts from Peabody Green's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Peabody Green Homeowners’ Association, Inc.

Developer / declarant

Peabody Green Homeowners’ Association, Inc.

Assessments & dues

Uniform rate for all lots, set annually by Board based on budget (Declaration Art VI Sec 1; Bylaws Art IX )

Special assessments

Board may levy special assessments; may be against less than all lots if benefit only them (Declaration Art VI Sec 2)

Collections & liens

Assessments are a continuing lien on each lot; after 60 days delinquency, Association may record Notice of Lien; may foreclose lien or obtain money judgment; collection costs and reasonable attorney's fees (Declaration Art VI Sec 5, 6, 8)

Reserves & fees

Reserve for Replacement for repaving of common drives and parking areas (Bylaws Art IX Sec 1 and 2)

Pets

Yes, dogs, cats or other household pets may be kept, but not bred or maintained for commercial purpose (Declaration Art VIII Sec 3)

Leasing & rentals

Yes for Lots 1-23 (Peabody Green HOA) with minimum lease term of 30 consecutive days; for Lots 24-29 (Peabody Green Cove HOA) not restricted by Second Amendment but subject to original declaration (Second Amendment Art XIV and XV)

Architectural approval

Yes, plans and specifications must be submitted to Memphis Landmark's Commission, or if no longer in existence, to a majority of the Board or an architectural committee appointed by the Board (Declaration Art V)

Signs & flags

Only one 'for rent' or 'for sale' sign per lot, maximum five square feet; no other advertising signs (Declaration Art VIII Sec 4)

Maintenance

Association responsible for repair and maintenance of improvements in Common Areas (common drives, guest parking, electric gates, landscaping); Owner responsible for maintenance, painting, repair and upkeep within boundaries of lot (Declaration Art IV)

Insurance

Association may obtain public liability insurance and any other insurance covering Common Areas, the Association and its members (Declaration Art IX Sec 1)

Voting & meetings

One vote per lot owned (Declaration Art II Sec 2; Bylaws Art IV )

Amendments

Declaration may be amended by instrument signed by at least twenty-one (21) lot owners; must be recorded. Declarant may unilaterally amend until first annual meeting to conform to governmental agency/mortgage lender requirements. Bylaws ame (Declaration Art X Sec 2; Bylaws Art XII)

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