Shadowood Trail Condominium Association, Inc.

What Shadowood Trail Condominium Association, Inc.'s governing documents say

This document is a collection policy for Shadowood Trail Condominium Association, a condominium community in Colleyville, TX. It binds unit owners and explains how the association collects delinquent assessments. Because it is an ancillary document—not the full rulebook—it covers only late fees, liens, payment plans, and collection procedures, not the community's general rules.

• Late fees & interest: If an assessment is not paid by the due date, the association may charge a late fee and interest at up to 1.5% per month (or the highest rate allowed by law) on the unpaid amount.
• Collection costs: The owner must pay all reasonable costs the association incurs to collect a delinquency, including title reports, attorney fees, court costs, and lien filing fees.
• Lien & foreclosure: The association may record a lien against your home for unpaid assessments. Foreclosure on the lien requires a majority vote of the board.
• Payment plans: If you are delinquent, the association will offer a payment plan lasting 3 to 18 months. You are not eligible if you defaulted on a payment plan in the past two years.
• Suspension of amenity use: If your account is delinquent for at least 30 days, the board may suspend your (or your tenant's) use of common area amenities until paid.
• Credit reporting: The association may report your delinquency to credit bureaus and will report receipt of payment once the debt is fully paid.
• What this document doesn't cover: This document does not include the community's general covenants, pet rules, rental restrictions beyond assessments, architectural guidelines, or any other operational rules. Those would be in the full Declaration and Bylaws.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.