Lakewood Village (TN)

Key facts from Lakewood Village (TN)'s documents

Community type

Covenant / Planned Community

Legal name

LAKEWOOD HOMEOWNERS' ASSOCIATION, INC.

Developer / declarant

THOMAS C. CATE

Governing law

Laws of the State of Tennessee (Section 10.08)

Assessments & dues

Not fixed; set by developer at sole discretion before transfer, thereafter set by Board subject to 75% owner vote (Section 5.03)

Special assessments

May be levied for capital improvements or additions with approval of 75% vote of members present at meeting called with 30 days notice (Section 5.04)

Collections & liens

Association granted a lien on each lot for assessments; may be foreclosed as other liens in Tennessee (Section 5.08)

Reserves & fees

Interest rate set by Board, not specified (Section 5.01)

Pets

Dogs, cats, and household pets permitted; no poultry, livestock, or animals for commercial purposes (Section 3.20)

Leasing & rentals

Yes, but with minimum lease term of 6 months; no rental or lease for less than 6 months (Section 3.53)

Parking & vehicles

Habitual overnight parking of panel/commercial/tractor trucks prohibited; other vehicles not addressed explicitly (Section 3.03)

Fences

Fences require prior written consent; must submit materials, design, height, and location (Section 3.12)

Architectural approval

Yes, for all new construction, alterations, fences, walls, swimming pools, play areas, etc.; plans must be submitted at least 30 days prior; fee charged; repainting substantial portions also subject to approval (Section 4.01)

Home business

Prohibited (no business or commercial purpose) (Section 3.03)

Signs & flags

One 'for sale' sign and one builder sign per lot, must be approved; no other signs (Section 3.15)

Setbacks / home size

Front: 25 ft; Rear: 20 ft; Side: per cluster development code (City of Cleveland Code, January 1, 1997, Exhibit D); variance possible with approval (Section 3.05)

Maintenance

Owner responsible for maintenance of structures, driveways, fences, vegetation on their lot; Association responsible for Common Properties (including entrance signs, landscaping on common areas); developer may initially maintain before asse (Sections 2.05, 3.37, 5.07)

Use restrictions

All lots are residential; no business, commercial, or multifamily use (Sections 3.02, 3.03)

Voting & meetings

Per Bylaws; developer has votes as provided in Bylaws; amendments require 75% vote of owners present or proxy; special assessments require 75% vote; annual assessment changes require 75% vote (Sections 5.03, 5.04, 10.02)

Amendments

Before transfer: by developer; after transfer: by 75% vote of owners present at meeting with notice; if mortgagee rights affected, require 75% vote of notified first mortgagees; amendment recorded with certificate (Section 10.02)

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