Big Valley Resort Association

Key facts from Big Valley Resort Association's documents

Reflects the 1973 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article I (submission to condominium for)

Units / lots

299 (Article III: 'condominium property consi)

Governing law

Tennessee Horizontal Property Act (Tenn. Code Ann. 64-2701 through 64-2722) (Article I and Article II(r))

Assessments & dues

Not fixed; determined by Board of Directors (Article VI: 'power to fix and determine.)

Collections & liens

Association has lien on condominium parcel and personal property; may foreclose or take possession and rent (Article VI)

Reserves & fees

$5.00 (Article VI: 'a late charge of $5.00 shal)

Leasing & rentals

Only Developer has exclusive right to rent lots for 99 years; may include units in private ownership (Article VII: 'Developer... shall have fo)

Maintenance

Association responsible for common elements; each unit owner responsible for own unit (implied) (Article IX (Board may contract for maint)

Insurance

Liability: $250,000/500,000/10,000 public liability and property damage; Casualty: fire, extended coverage, vandalism, malicious mischief (Article VIII A and B)

Use restrictions

Recreational campsites for camping trailers; excludes mobile homes (WHEREAS: 'restrict said property to use )

Voting & meetings

Developer has as many votes as lots placed in actual use and available for rental; other voting rights per Bylaws (Article XIII M)

Amendments

Bylaws may be amended as provided therein; no amendment affecting mortgage validity without mortgagee consent; Master Deed amendments must be recorded (Article V (modification of Bylaws) and A)

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