Waterpointe

Key facts from Waterpointe's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Each Building will consist of four (4) o)

Developer / declarant

Flowood Towncenter Group, LLC (Article V, Section 5.02: FTCG shall be t)

Assessments & dues

Board adopts annual budget prior to January 1, fixes Maintenance Assessment amount sufficient to meet budget, divided equally among all Lots. (Article VI, Section 6.02: Prior to the f)

Special assessments

Yes, levy allowed with two-thirds vote of each class of Members (Sections 6.03(a),(b)). Also certain special assessments without vote for reimbursements (Sections 6.03(c),(d)). (Article VI, Section 6.03: The Associatio)

Collections & liens

Each Assessment is a continuing lien on the Lot and personal obligation of Owner. Association may foreclose in manner for mortgages and other liens with power of sale under Mississippi law. (Article VI, Section 6.13: continuing lie)

Reserves & fees

Yes, Association may establish reserves. (Article VI, Section 6.02(g): The costs t)

Maintenance

Association maintains Common Elements (Common Walls, Roofs, Foundations, Features) and front lawns/driveways. Owners responsible for maintenance of their Lot except as provided. If owner fails to maintain, Association may do work and charge (Articles I-IV (maintenance by Associatio)

Insurance

Property Policy covering all structures comprising Dwellings within Property, including Common Elements, with 'All In' endorsement for built-in appliances, air conditioners, fixtures. Coverage amount: greater of 80% actual cash value or to (Article VII, Section 7.01: The Associati)

Voting & meetings

Two classes: Class A Members (all except Declarant) have one vote per Lot; Class B Member (Declarant) has three votes per Lot. Combined votes required for certain actions. (Article V, Section 5.03: Class A Members)

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