Gramercy Park 1st

Key facts from Gramercy Park 1st's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Governing law

60 O.S. §851 through 855 (Introduction, Page 1)

Assessments & dues

Board determines and fixes the amount of maximum annual assessment at least sixty days in advance; allocation based on fractional undivided interest in common elements. (Art. 4.3, 4.5)

Special assessments

Board may levy special assessments for capital improvements and unexpected expenses. (Art. 4.2, 4.4)

Collections & liens

Unpaid assessments constitute a lien on the lot superior to all other liens except taxes, bonds, and first mortgages. Association may enforce by sale after failure to pay. Suit for judgment without foreclosing lien also allowed. (Art. 4.8)

Reserves & fees

Trust fund or funds for capital expansion, repair and maintenance established by Board. (By-Laws Art. 6.1.12)

Pets

Yes, household pets traditionally kept in individual residences. (Art. 7.6)

Leasing & rentals

Yes, but not for transient or hotel purposes. (Art. 7.8)

Parking & vehicles

Pickup trucks (likely commercial) not permitted. (Art. 7.4)

Fences

Fences allowed only behind rear of residence, not more than six feet behind; vertical boards, unpainted; requires approval. (Art. 7.14)

Home business

Prohibited; customers cannot enter lot for business purposes; dwelling unit may not be used for non-residential purposes. (Art. 7.7.10(g), Art. 7.1)

Signs & flags

"For Sale", "For Lease" signs allowed; political signs permitted; other signs require Board approval. (Art. 7.5)

Maintenance

Association maintains common elements, private streets, detention improvements, gates, landscaping. Owner maintains lot and utility connections. (Art. 5.3, 6.1)

Insurance

Comprehensive public liability insurance insuring Association, Developer, owners, employees, guests. (Art. 8.6.2)

Use restrictions

Yes, each lot used only for residential purposes as permitted by zoning. (Art. 7.1, 7.7.10)

Voting & meetings

One vote per lot, except Developer gets two votes per lot owned. Cumulative voting for Board elections. (By-Laws Art. 3.8, Art. 4.2.2)

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