Villa Walk Condominium Owners Assn

Key facts from Villa Walk Condominium Owners Assn's documents

Community type

Condominium

Developer / declarant

LaMoyne Cody Kerr (Recitals - "WHEREAS, LaMoyne Cody Kerr, )

Governing law

Oklahoma Unit Ownership Estate Act (Recitals - "subject to the provisions of)

Age restriction

Not explicitly 55 or older; but there is reference to "Guests under the age of fourteen years" being subject to restrictions, implying no age restriction on owners, but may be a family-oriented community (Section 8 - "Guests under the age of fou)

Assessments & dues

Determined annually by Board based on estimated budget (Article III, Section 4 - "Board shall de)

Special assessments

May be levied by Board with majority vote of owners; for capital improvements or unexpected repairs (Section 18(C) - "may levy in any assessm)

Collections & liens

Association has a lien for unpaid assessments; may foreclose (Section 20 - "lien shall attach from the)

Reserves & fees

Interest at 10% per annum on unpaid assessments (Section 18(D) - "interest at the rate of)

Pets

1 per unit (Rule 10 - "only one pet per unit")

Leasing & rentals

Owner may rent unit for term of at least 30 days (Section 6 - "right to rent his unit for )

Fences

Fence construction requires ARC approval (Article XIII, Section 4 (as above, inclu)

Architectural approval

Architectural Control Committee must approve any exterior addition, change, fence, wall, or other improvement (Article XIII, Section 4 - "no building, )

Insurance

Owner may obtain own coverage for personal property and liability; not required but recommended (Section 23(C) - "Each owner may obtain a)

Use restrictions

Units shall be used and occupied only for single family residence purposes (Section 6 - "Units shall thereafter be u)

Voting & meetings

Voting is in proportion to undivided interest in common elements (Article II, Section 2 - "Voting shall be)

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