WHAT IS IT?
The Proposed Amendment is a document that was prepared by an attorney who has historically assisted with issues within Towne South.
It proposes an amendment to a SECTION or ARTICLE in the current indentures. It does not change the entire indentures.
WHY ARE WE PROPOSING IT?
For years, the previous board members in Towne South discussed the need for some changes within the indentures. The most recent revision to the indentures took place in 1996. In the last 27 years, much has changed in the way we live and do things and our indentures have not kept up. There are some small changes we would like to see and some a bit larger, but all which will require providing notice to lot owners.
WHAT WILL CHANGE?
In the short term, this proposal amends ONE THING - VOTING (how we vote and the requirements for passing an amendment). The concept to this amendment is to make it more practical and fluid for future amendments.
THIS IS AN AMENDMENT FOR OUR AMENDMENTS.
WHAT IS THE STATUS OF THE PROPOSED AMENDMENT?
As of November 2023 the proposed amendment vote passed.