Park Place Townhomes Homeowners Association

Key facts from Park Place Townhomes Homeowners Association's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Park Place Townhomes Owners' Association, Inc. (Section 1(b) and Section 5(a))

Developer / declarant

Northcutt Custom Homes, LLC (Opening paragraph)

Governing law

Tennessee Horizontal Property Act, T.C.A. 66-27-101 et seq. (Section 1(a) and Recitals)

Assessments & dues

Initial dues: $80 per month for two-bedroom units, $100 per month for three-bedroom units (Section 29(e))

Special assessments

Association may levy special assessment for capital improvements with assent of two-thirds (2/3) of votes of Unit Owners (Section 10(d))

Collections & liens

Association has a lien on the Unit for unpaid assessments and may enforce by suit; lien subordinate to first mortgages except for post-possession accruals (Sections 10(a), 10(b), 20)

Reserves & fees

Required to be established and funded by regular monthly payments; initial $300 working capital and $100 reserve per unit (Section 29(e))

Pets

Yes; household pets such as small dogs and cats in reasonable numbers for pleasure only, not commercial (Section 19(v))

Parking & vehicles

Parking spaces used according to Board rules; overnight street parking prohibited; no inoperative vehicles; no tractor-trailers or large commercial vehicles; recreational vehicles must be stored in garage if owned (Sections 9, 19(m))

Fences

All walls, fences, or hedges must be approved by Architectural Control Committee (Section 19(e))

Architectural approval

Architectural Control Committee approval required for any construction, alteration, fence, wall, drive, or improvement on Private Elements (Sections 15(a), 19(a))

Home business

Professional and quasi-professional may use residence as ancillary to office elsewhere; incidental personal business activities allowed (Section 19 introductory paragraph)

Use restrictions

Each Lot shall be used only for private, single-family residential purposes (Section 19(u))

Voting & meetings

Each Unit gets one vote (except Developer gets three votes per Unit under Class B membership) (Section 5(b))

Amendments

Except as otherwise stated, amendment requires an instrument signed by Unit Owners owning at least 2/3 of total Units, with certified mail notice to all lien holders; during Developer control, FHA/VA/HUD approval also required (Section 21(b))

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