Fcop Owners Association Inc.

Key facts from Fcop Owners Association Inc.'s documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article 2.1: "Property Name is FRISCO CO)

Units / lots

4 (Phase One); additional units may be added by annexation (up to 23 more) (Appendix C (Schedule of Allocated Intere)

Developer / declarant

FCOP, LLC, a Texas limited liability company (Section 1.1.6)

Governing law

Chapter 82 of the Texas Property Code (First page: "subject the property... to )

Assessments & dues

Set annually by board based on adopted budget (Section 5.4)

Special assessments

Allowed; may be levied by board; requires owner approval if combined with increases exceeds 10% of budget (Sections 5.1.1, 5.5, 5.6)

Collections & liens

Assessment lien on unit; power of nonjudicial sale granted to Association; procedure per Texas Property Code (Sections 6.1, 6.5)

Reserves & fees

Association must establish and maintain reserves for operations and replacement/repair (Section 5.9)

Leasing & rentals

Leasing permitted subject to conditions in Article 11 (Section 11.1)

Parking & vehicles

Board may regulate use of private streets and driveways including parking restrictions (Section 12.2.b)

Architectural approval

If board fails to approve or deny within 91 days, owner may presume approval (deemed approval) (Section 10.4)

Maintenance

Roofs are initially designated as Areas of Common Responsibility (maintained by Association) (Appendix G: "Roofs, roofing systems, gut)

Insurance

Paid by party liable; if owner caused loss, owner reimburses Association (Section 15.1.7)

Use restrictions

Units are for office or professional purposes only; no residential or retail sales use (Section 12.3)

Voting & meetings

Each unit has one vote; total votes equal number of units (Section 4.4)

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