Vance Station

Key facts from Vance Station's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential_subdivision (development of the Property, to be known)

Developer / declarant

Stephen G. Turgeon

Governing law

Tennessee Nonprofit Corporation Act (EXHIBIT 'C' CHARTER - 'The undersigned p)

Assessments & dues

Maximum $20 per Lot per month until December 31, 2002; thereafter fixed by Board of Directors (Article VII, Section 11)

Special assessments

May be levied with assent of Members representing two-thirds (2/3) of total votes eligible to be cast; notice of meeting 10-30 days in advance (Article VII, Section 3)

Collections & liens

Unpaid assessments become continuing lien on Lot; Board may foreclose by public sale after 21 days advertising (3 weekly publications) and written notice to Owner; sale subordinate to prior mortgages; proceeds applied to expenses, taxes, pr (Article VII, Section 5)

Reserves & fees

Annual assessment includes cost of funding reserves for replacements and general operating reserve (Article VII, Section 2(d))

Pets

Yes (Article IX(G))

Setbacks / home size

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

Maintenance

Not explicitly assigned; Owner responsible for exterior maintenance including roof (since Association does not cover roof) (Article V, Section 2(b) - Owner responsi)

Use restrictions

All lots shall be known and described as residential Lots; no structure other than single-family residence (Article IX(A))

Voting & meetings

Each Owner of a Lot entitled to 1 vote per Lot; Developer entitled to 3 votes per Lot until 3 years after first Lot conveyance, then 1 vote per Lot (Article III, Section 2 of Declaration; A)

Amendments

May be amended by instrument signed by Owners holding not less than 67% of votes; during first 2 years, also requires Declarant approval; Declarant may unilaterally amend for governmental agency, mortgage lender requirements, or any reason (Article XIII, Section 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.