River's Edge Village Ph Xiv

Key facts from River's Edge Village Ph Xiv's documents

Reflects the 1989 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Unit Development (PUD) – described as 'planned unit development' (WHEREAS clause, paragraph 1)

Developer / declarant

River's Edge Investments, a partnership consisting of L. A. Swarens, Clyde W. Purcell, Mary Lou Purcell and Wayne Purcell (Preamble)

Assessments & dues

Not fixed; determined by Board budget each year. (Article IX Section 3)

Special assessments

Board may levy special assessments up to $500 per unit per year without member vote; above $500 requires Majority of Class A members. (Article IX Section 4)

Collections & liens

Assessments are a continuing lien on the unit, superior except for taxes and first mortgages. After 60 days delinquency, Association may foreclose. Lien includes late charges, interest, costs, attorney fees. (Article IX Sections 5 and 6)

Reserves & fees

Board annually prepares capital budget; sets required capital contribution included in assessments. (Article IX Section 7)

Leasing & rentals

Yes, lease or rental for residential purposes for 30 days or longer allowed if in compliance with rules. (Article II Section 4)

Architectural approval

Yes. New Construction Committee (NCC) for original construction; Modifications Committee (MC) for modifications, additions, alterations. (Article X Sections 1 and 2)

Home business

Prohibited; lease or rental for residential purposes for 30 days or longer is not a violation. (Article II Section 4)

Signs & flags

Declarant may erect signs for construction and sales (Article II Section 7(b)); otherwise no specific sign rule, but Board may regulate (Article II Section 6). (Article II Section 7(b), Article II Sect)

Insurance

Policy may contain reasonable deductible; added to face amount for full replacement cost determination. (Article V Section 1)

Use restrictions

Each Lot shall be used for residential purposes only; no trade or business. (Article II Section 4)

Voting & meetings

Two classes: Class A (all Owners except Declarant) – one vote per Residential Unit; Class B (Declarant) – initially 250 votes, decreases by one for each Class A member, terminates upon (i) Class A votes >=200, (ii) Jan 1, 2004, or (iii) Dec (Article III Section 2)

Amendments

Declarant may amend unilaterally for compliance with law or lender requirements (not adversely affecting owner title without consent). Additionally, by 75% Class A vote plus Declarant consent while option exists. Amendments require recordat (Article XII Section 2)

Amenities

Initial common area includes one tennis court. Association may charge admission fees for facilities. No further amenities specified. (Article I Section 4; Article II Section )

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