Winners Circle Owners Association, Inc.

Key facts from Winners Circle Owners Association, Inc.'s documents

Community type

Condominium (Article I, Section 1.10; Recitals)

Developer / declarant

The Condos of Long Champ Joint Venture (First paragraph of Declaration; Section )

Governing law

Texas Condominium Act (Title 7 of the Property Code, V.T.C.A., Sections 81.001 et seq.) (Section 1.23)

Assessments & dues

Annual budget adopted by Board, assessments proportioned per Common Interest and divided by 12 for monthly assessment (Section 4.03)

Special assessments

Allowed for capital improvements, unexpected expenses, or individual compliance costs; assessed proportionally or individually (Section 4.04)

Collections & liens

Assessments secured by lien on Unit, subordinate only to taxes and first mortgages; foreclosure allowed including non-judicial sale under Texas Property Code (Section 4.03, 4.05)

Reserves & fees

Monthly assessments shall include an adequate reserve fund for maintenance, repairs, and replacement of Common Elements (Section 4.02)

Pets

Yes, only as permitted in Bylaws or rules adopted by Board (Section 7.09)

Leasing & rentals

Yes, for periods of at least six months (Section 7.01(b))

Architectural approval

Yes, for any alteration to exterior, projections, temporary structures, antennas, awnings, etc. (Section 7.04, 7.05, 7.07, 7.13)

Home business

Permitted incidental uses: personal professional library, business records, telephone calls (Section 7.01(a))

Signs & flags

Only Declarant may place signs in Common Elements for sales; other Owners prohibited from signs without Board consent (Section 7.05)

Maintenance

Association (roofs are part of General Common Elements) (Section 1.13(a))

Insurance

Multi-peril insurance on Project with fire and extended coverage on replacement cost basis; comprehensive public liability insurance; fidelity bond for fund handlers (Section 8.01(a), 8.01(b), 8.01(c))

Use restrictions

Units may be used only for residential purposes; no trade or business, except Declarant may use for model/sales until last unit conveyed (Section 7.01(a))

Voting & meetings

Each Unit owner entitled to one vote, value equal to Common Interest (percentage) as set forth in Exhibit C (Section 3.04)

Amendments

Common Interest cannot be altered without consent of all Owners and Mortgagees; general amendment procedure referenced in Section 9.06 (text not fully provided) (Section 2.03; Table of Contents Article )

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