River Run Homeowners Association

Changing the method of determing your obligations,assessments, and dues

Posted in: River Run
  • Stock
  • leathel
  • Respected Neighbor
  • Indianapolis, IN
  • 34 Posts
  • Respect-O-Meter: Respected Neighbor

There are 3 items in Section 10.3, (b)(f)(g), that needs your attention, unless you are brain dead.

 

Section 10.3 Amendment.
Any Amendment or change must be recorded, and the membership must get a copy. 

Neither the Association, the Owners or Declarant shall effect any of the following changes without the prior written approval of two thirds (2/3) of the first mortgagees of the Lots (based upon one (1) vote for each mortgage owned)and two-thirds (2/3)of the Owners of Lots (excluding Declarant or Builder):

 

(b) Change the method of determining the obligations, assessments, dues or other charges that may be levied per the terms hereof.
Note: Why are we not using Article V in determining our obligations, assessments, dues.

 

(f) Change the voting rights, assessments, assessment liens or subordination of assessment liens, except as provided for in this Declaration.
Note: The Board of Directors has denied the membership their voting rights on issues that require their vote since December 31, 2000.

 

(g) Change the manner in which reserves for maintenance, repair and replacement of Common Areas have been setup and previously maintained by the Association.
Note: Why are we adding money to the reserve fund at such a rapid pace?
The only money that goes in a reserve fund is money left over from your assessments at the end of the year.
The membership has not voted on any proposed project for the Common Areas or do we have an approved project of any kind that requires a large reserve fund.

 

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