Skyfall (TN)

Key facts from Skyfall (TN)'s documents

Community type

Covenant / Planned Community

Developer / declarant

Skyfall Development Group, G.P.

Assessments & dues

Base Assessment: $3,900 per year per Unit initially, subject to change by Board or Class B Member (Section 9.3(a))

Special assessments

May be levied for unbudgeted or excess expenses; requires affirmative vote or written consent of Members representing at least 51% of total votes allocated to Units subject to assessment, and affirmative vote or written consent of Class B M (Section 9.5)

Collections & liens

Assessments constitute a lien on each Unit until paid; lien superior to all other liens except taxes, bonds, and first mortgages of record; enforceable by suit, judgment, and foreclosure (Section 9.8)

Reserves & fees

Board shall annually prepare reserve budgets for replaceable assets and set required capital contribution in Base Assessments (Section 9.4)

Pets

Ordinary household pets allowed; unless Supplemental Declaration prohibits at time of first Unit sale, no rule prohibiting pets may be adopted thereafter over objection of affected Owner (Section 11.5(f))

Leasing & rentals

Leasing allowed; any lease must provide that lessee and occupants bound by Declaration, By-Laws, and Association rules (Section 11.1(a))

Architectural approval

ARC shall advise in writing within 30 days of receipt of Plans; if no notice is given within 30 days, approval deemed given (Section 10.4(b))

Signs & flags

Owners have right to display political signs and symbols of kinds normally displayed; Association may adopt reasonable time, place, and manner restrictions (Section 11.5(b))

Insurance

Deductible treated as Common Expense; however, if Board determines loss due to negligence/willful conduct of Owner/occupant, Board may specifically assess the deductible against that Unit (Section 6.1(c))

Use restrictions

Lots devoted solely to single family residential purposes (Background D)

Voting & meetings

Class A Members: one vote per Unit; Class B Member (Declarant) has majority board appointment during Class B Control Period. Class B membership terminates earlier of two years after end of control period or when Declarant declares. (Article 3, Section 3.3)

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