Summerset Village Condominium Association

Key facts from Summerset Village Condominium Association's documents

Reflects the 1979 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Condominium Project under Texas Condominium Act) (Declaration, opening paragraph)

Units / lots

Not explicitly stated; building tabulations list many units, but exact count not given in text (Exhibit B and C show unit numbers; no to)

Governing law

Condominium Act of the State of Texas (Declaration, paragraph 1.H and 27.B)

Assessments & dues

Board of Directors prepares annual Common Expense budget; assessments allocated proportionally per percentage interest. (By-Laws Article IV, paragraph 3(e))

Special assessments

Board may levy special assessments when necessary for increased expenses, capital costs, or emergencies. (By-Laws Article IV, paragraph 3(e))

Collections & liens

Unpaid assessments constitute a lien on the Condominium, superior except for taxes and first mortgage; can be foreclosed like a mortgage. (Declaration paragraph 19)

Reserves & fees

Reasonable fee not exceeding amount permitted by law for issuance of statement of unpaid assessments; no fee for mortgagee. (Declaration paragraph 20)

Leasing & rentals

Yes, with minimum term of 30 days (except mortgagee after foreclosure may rent on any terms). (Declaration paragraph 10)

Architectural approval

Not explicitly in Declaration; Board has power to adopt house rules (including balcony plant standards). (By-Laws Article IV, paragraph 3(b))

Signs & flags

Owners prohibited from placing signs in common areas; Declarant may place sales signs. (Declaration paragraph 10)

Insurance

Owner must obtain own insurance for Unit interior, furnishings, personal property, and liability; must deposit copy of policy with Association. (By-Laws Article IV, paragraph 3(d))

Use restrictions

All Condominiums shall be used and occupied for single family residence purposes by Owner, family, or guests. (Declaration paragraph 10)

Voting & meetings

Votes proportionate to each Owner's percentage interest in the Common Elements as set forth in Exhibit C (By-Laws Article II, paragraph 2; Declara)

Amendments

Requires consent of Owners representing 75% of Common Elements and 75% of mortgagees; fundamental changes require unanimous consent of Owners and mortgagees. (Declaration paragraph 17)

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