Oaklawn Village East Hpr

Key facts from Oaklawn Village East Hpr's documents

Community type

Condominium

Legal name

Oaklawn Village East Horizontal Property Regime

Governing law

Act 60 of 1961 of the General Assembly of the State of Arkansas (Article XXIII)

Assessments & dues

Not fixed; Board estimates cash requirement each year (Article XVII(a))

Special assessments

Board may levy further assessment at any time; also for maintenance of owner's apartment if owner fails to perform (Article XVII(a), Article XV(i))

Collections & liens

Lien for nonpayment of common expenses upon recordation of notice; priority over all other liens except prior taxes and prior recorded mortgages; may be enforced by sale; Board may bid (Article XIX)

Reserves & fees

Estimated cash requirement includes provision for contingencies and replacements (Article XVII(a))

Pets

Dogs, cats or other household pets may be kept, subject to Board rules (Article XXV(e))

Leasing & rentals

Yes, but subject to right of first refusal (Article XXIX)

Architectural approval

Written consent of Board required for structural alterations, improvements, additions; for painting or decorating exterior; for any construction in common elements (Article XXIV, Article XXV(g))

Maintenance

Owner responsible for interior surfaces (paint, maintenance, repair) and all equipment within apartment including plumbing, water heater, lighting, AC, etc.; Board responsible for common elements (Article XV(g), Article XXIII)

Insurance

Fire and casualty insurance for full insurable replacement value with extended coverage; comprehensive liability insurance minimum $300,000 per person, $100,000 property damage; workmen's compensation (Article XV(b)(c)(d))

Voting & meetings

Each apartment owner votes based on basic value percentage; cumulative voting allowed (Article I(e), Article XIV(a))

Amendments

75% of basic value owners; recorded in Garland County; some provisions require unanimous consent (e.g., altering percentage, amendment to Article XVII(c)) (Article XXXIX, Article IV, Article XVII()

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