Wade Settlement Homeowners Association, Inc.

Key facts from Wade Settlement Homeowners Association, Inc.'s documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhome Owners Association, non-profit corporation under Texas law (Article I: "The name of the corporation )

Developer / declarant

CADG Frisco 32, LLC, a Texas limited liability company (Section 2.9: "Declarant shall mean CADG )

Governing law

Texas Business Organization Code; Texas Property Code (Section 209.005 et seq.) (Section 3.5 (Texas Business Organization)

Assessments & dues

Board fixes amount of annual and other assessments as provided in Declaration. (Section 6.1(g))

Special assessments

Not detailed in Bylaws; referenced in Article X (Assessments) and Exhibit B (Alternative Payment Schedule for delinquent regular or special assessments). (Article X; Exhibit B)

Collections & liens

Each Member obligated to pay Assessments secured by continuing lien on property. Association may foreclose lien after 30 days delinquency, either by expedited foreclosure (Rules 735/736 Texas Rules of Civil Procedure) or judicial foreclosur (Article X; Exhibit C (Referral of Delinq)

Reserves & fees

Up to $25.00 per month for any assessment not paid in full by delinquency date. (Exhibit C (Late Charges))

Architectural approval

Architectural Control Committee established by Declarant, comprised of members appointed by Declarant until such time as Declarant relinquishes power by written notice or no longer owns any Lot. (Article VIII)

Maintenance

Not detailed in Bylaws; reference to Declaration for further provisions. (Article X (Assessments for maintenance i)

Voting & meetings

Members hold voting rights as provided in the Declaration; each Lot likely has one vote. (Section 2.13 (Member definition); Sectio)

Amendments

Before Declarant Turnover Date: by unilateral vote or written consent of Declarant. After: by majority vote or written consent of a majority of Directors. In case of conflict, Declaration controls over Bylaws, Certificate controls over Byla (Section 13.1; Section 13.2)

Amenities

Not enumerated; Association Property includes real or personal property now or hereafter owned. Board may adopt rules governing use of Association Property. (Section 2.3; Section 6.1(a))

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