Porter Village Homeowners Association

Key facts from Porter Village Homeowners Association's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Horizontal Property Regime with Private Elements (condominium regime under Tennessee Horizontal Property Act) (Preamble: 'submitting the Property… to t)

Developer / declarant

The Porter Village Partners, a Tennessee general partnership (Preamble: 'Declarant' defined as 'THE PO)

Governing law

Tennessee Horizontal Property Act, T.C.A. §66-27-101 et seq. (Article I, Section 1: '“Act” means the H)

Assessments & dues

Board adopts an Operating Budget and Capital Budget, then sets Assessments accordingly. Budget delivered to Owners at least 10 days before annual meeting. Assessments may be General (equal allocation or as Board determines for Retail Units) (Article IX, Sections 1 and 3)

Special assessments

Board may levy Special Assessments for capital improvements, repairs, reconstruction, or to cover costs of maintaining Units when Owner fails. May be levied against all Units or particular portions. Also for casualty repair shortfall. (Article IX, Section 4; Article V, Sectio)

Collections & liens

Assessments and Fines are a lien on the Unit, superior to all except taxes, first mortgages, etc. A trust conveyance is included giving Trustee power to foreclose non-judicially after 20 days' notice (three publications) and sale at courtho (Article IX, Section 5 (detailed trust co)

Reserves & fees

Capital Budget annually prepared, establishing reserve accounts for capital expenditures. Reserves included in Operating Budget and Assessments. (Article IX, Section 6)

Leasing & rentals

Restriction on Rentals exists (Article XI, Section 3) but details not provided in text. (Article XI, Section 3 heading: 'Restrict)

Fences

Fences are excluded from Association maintenance for Townhome Units (Article IV, Section 1(d)). No explicit rule on fence construction except ARC approval required for modifications. Also, fences may be subject to design review. Specific fe (Article IV, Section 1(d) (fences not mai)

Architectural approval

Yes. Prior written approval of Board (or designated committee) required for construction, modifications, additions, alterations. No approval for painting with originally approved materials/colors or replacing roof with duplicates. Significa (Article X, Section 1 and Section 1(c): ')

Home business

Not explicitly addressed; general use restriction likely prohibits business if not related to residential use. (N/A (inferred from residential use claus)

Signs & flags

Not explicitly in provided text; community signage is a Common Element (Article I, Section 8). Owner signage likely restricted by ARC and rules; not detailed. (Article I, Section 8 includes 'community)

Maintenance

Association maintains and replaces non-structural components of roofs of Townhome Units and Flats buildings (including all components of roof). Excluded from Association maintenance: for Flats, roof components not excluded? Actually says 'i (Article IV, Section 1(d) and (e))

Insurance

Policy may contain a reasonable deductible amount added to face amount in determining full replacement cost. (Article V, Section 1(c): 'The policy or )

Use restrictions

Except for Retail Units, each Unit shall be used as a residence and for no other purposes. Common Elements used for recreational, social, and other purposes related to residential use. (Article XI, Section 1(a))

Voting & meetings

Relative voting rights and percentages as set forth in the Bylaws, this Declaration, or any Supplemental Declaration. Each Unit Owner (Member) has voting rights appurtenant to Unit ownership. (Article III, Section 3: 'Voting Rights. )

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