Quarters at Kelley Pointe 1

Key facts from Quarters at Kelley Pointe 1's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Developer / declarant

Kelley Pointe Development Co., Inc., an Oklahoma corporation, with address 6801 N. Classen Boulevard, Suite A, Oklahoma City, Oklahoma 73116-7207, Attn: Clay T. Farha (Declaration (first paragraph) and acknow)

Assessments & dues

Board shall prepare an annual budget for General Assessments (Section 6.5.2); General Assessment computed among all Parcels subject to assessment (Section 6.5.1). (Sections 6.5.1, 6.5.2 (pages 18-19))

Special assessments

The Association may levy Special Assessments as provided in Section 6.6. (Section 6.6 (page 19))

Collections & liens

The Association has a lien on each Parcel for unpaid Assessments, enforceable by foreclosure. The Association may bid for the Parcel at sale. (Section 6.9 (page 19); also Section 6.10)

Reserves & fees

The Board shall prepare a capital budget taking into account the number and condition of Common Area improvements, and shall establish a reserve fund. (Section 6.5.3 (page 19))

Architectural approval

All design review of any Improvements to be constructed, erected, or modified requires approval under the Design Review and Plan Submittal Procedures established in the Design Guidelines. (Sections 9.1 and 9.2 (pages 22-23))

Maintenance

Association maintains Common Area; Owner maintains all Improvements on his Parcel (including landscaping, buildings, etc.) per Section 5.2; if Owner fails, Association may perform and charge Owner. (Sections 4.1, 4.1.2, 5.2, 5.3 (pages 13,)

Insurance

Association shall obtain comprehensive general liability and property insurance on the Common Area and improvements thereon for the benefit of the Association, Board, agents, and employees. (Section 4.5 (page 14))

Use restrictions

Permitted uses are governmental, professional, office, commercial condominium, service, financial, medical, and healthcare facilities; residential use is specifically excluded. (Exhibit B, Section 1 and last line: "exc)

Voting & meetings

Class A members (all Owners except Declarant) have one vote per Parcel; Class B member (Declarant) has three votes per Parcel owned. Class B terminates on Conversion Date per Section 3.3.3. (Sections 3.3.1, 3.3.2, 3.3.3 (page 7, 12)

Amendments

Amendments by Declarant without approval for certain purposes; by Owners requires approval of two-thirds (2/3) of all Class A votes (or higher percentage required by law). Effective upon recordation. (Sections 12.5.1 and 12.5.2 (pages 29-30))

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