Valley Falls Estates Ph IV

Key facts from Valley Falls Estates Ph IV's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential Subdivision (Described as an addition to the City of )

Legal name

Valley Falls Estates Property Owners Association, Inc.

Units / lots

Lots shown on the Plat; this declaration specifically applies to Lot 35C but refers to multiple lots in the Addition (Page 2, reference to Plat and Lot defini)

Developer / declarant

NCC Financial Arkansas, LLC (Allottor, page 1)

Governing law

State of Arkansas (no specific statute cited) (Arkansas non-profit corporation, Pulaski)

Assessments & dues

Fixed by the Board of Directors of the Association; initial assessment amount not specified (Article XVIII(c), page 12)

Special assessments

Allowed for capital improvements, construction, reconstruction, repair or replacement of capital improvements in Common Areas and private streets; applies to that year only; uniform for non-exempt Lots (Article XVIII(c), page 13)

Collections & liens

Assessments, charges, fees, expenses plus interest and costs become a lien on the Lot; Association may foreclose lien; lien subordinate to first mortgage; extinguished upon foreclosure sale or transfer in lieu (Article XVIII(c) and (e), pages 12-14)

Reserves & fees

Not specifically stated; interest accrues at maximum lawful rate from due date (Article XVIII(e), page 14)

Pets

Yes, dogs, cats or other household pets allowed (Article XI, page 9)

Parking & vehicles

Motor homes, camper trailers, travel trailers, utility trailers, boat trailers not permitted to be parked, stored or remain upon any street in the Addition (Article XV, page 10)

Architectural approval

Yes, for all Proposed Construction including new construction, remodeling, fences, outbuildings, storm cellars, pools, tennis courts, antennas, ponds, signs, driveways (Article II(a)-(c), pages 5-6)

Home business

Commercial business activity prohibited on any Lot (sale of Lots or construction of dwellings permitted) (Article VIII, page 8)

Signs & flags

One sign not more than five square feet advertising property for sale or rent; signs used by builder or VFE during construction and sales period; no signage affixed to trees (Article X, page 9)

Setbacks / home size

Minimum building setback lines as shown on the Plat; no dwelling or building nearer than (greater of 10% of lot width at front building line, not exceeding 15 feet) or 8 feet to an interior lot line; eaves, steps, balconies, open porches no (Article IV, page 7)

Maintenance

Owner maintains Lot and improvements; Association maintains private streets and roads, Common Areas (once conveyed), and easement areas required to be maintained by Association (Article (Street maintenance) page 4; Art)

Use restrictions

All Lots held, owned and used only for residential purposes except as otherwise shown on the Plat (Article I, page 4)

Voting & meetings

Each Lot owner entitled to one vote per Lot owned; multiple owners collectively have one vote; VFE entitled to one vote per Lot owned (Article XVIII(a), page 11)

Amendments

May be amended by VFE alone, or by written instrument signed and acknowledged by at least 50% of lot owners with written consent of VFE (in its sole discretion); effective upon recordation (Article XXI, page 15)

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