Sheridan Place

Key facts from Sheridan Place's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhomes Homeowners Association (Name: 'Sheridan Place Townhomes Homeowne)

Legal name

Sheridan Place Townhomes Homeowners Association

Units / lots

12 (original); potentially more per amendment 'any additional contiguous units' (Units 1,2,3,4,5,6,7,8,9,10,11,12 (origin)

Developer / declarant

William D. and Rita J. Overfield

Assessments & dues

Board estimates annual budget and sets monthly assessment at 1/12 of estimate per unit (Article IX Section 3)

Special assessments

Board may levy further assessment if estimated cash requirement is inadequate; notice at least 10 days before effective (Article IX Section 4: 'if said estimated)

Collections & liens

Unpaid assessments become a lien on the Unit; may be foreclosed; lien subordinate to first mortgage recorded before delinquency; foreclosing mortgagee may pay assessments (Article IX Section 9: 'amount of any del)

Reserves & fees

Board shall build up and maintain a reasonable reserve for contingencies and replacements (Article IX Section 4: 'The Board shall b)

Pets

Yes, but limited (Article X Section 5)

Leasing & rentals

Yes, with written lease of at least 30 days (Article V Section 5: 'Any lease or renta)

Fences

Fencing restricted to six foot wood privacy fencing, uniform in construction; may be constructed at rear and sides of End Units and rear of Interior Units (Article X Section 4: 'Fencing is restric)

Architectural approval

Written consent of Board required for exterior alterations, painting, decorating, changes to common elements, and structural alterations (Article V Section 4(B)(4) (Owner shall n)

Home business

Prohibited: 'no industry, business, trade, occupation or profession of any kind... for profit... shall be conducted' (Article X Section 8)

Maintenance

Original: Board maintains exteriors and common elements; Owner maintains interior. Amendment: Owner maintains all portions and exterior of unit, including lawn and snow removal. Board may perform maintenance if Owner fails after notice, and (Original Article V Section 4(A) (Board e)

Insurance

Insurance on Common Elements against fire, lightning, extended coverage, vandalism, malicious mischief for full insurable replacement value; comprehensive public liability insurance (Article VII Section 14(A)(ii) and (iii))

Use restrictions

Each Unit used as residence for single family; no other purpose (Article X Section 1: 'Each Unit shall be)

Voting & meetings

One vote per unit; no cumulative voting; proxy allowed in writing (Article VI Section 1 (voting members); S)

Amendments

Non-material amendments: approved by Board and 50% of Unit Owners, recorded. Material amendments: approved by Board and 75% of Owners, recorded. Material amendments listed include voting rights, assessments, reserves, maintenance responsibi (Article XII Sections 7 and 8)

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