When required by the Commission or Hearing Officer, covenants must include at least the following provisions satisfactory to the Commission.
(A) Adequate provision for an organization with direct responsibility to, and control by, the property owners involved to provide for the operation and maintenance of any common facilities jointly shared by those owners.
(B) A financial guarantee:
(1) That satisfactory maintenance will be provided for any common facilities in accordance with standards prescribed by the property owner’s organization and set forth in the covenants; and
(2) That the facilities will be operated and maintained at no expense to the city or any other governmental unit as may be applicable.
(1985 Code, § 36-7-4-600(8.9))