Villas at Towne Lake HOA

Key facts from Villas at Towne Lake HOA's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association

Legal name

VILLAS AT TOWNE LAKE HOME OWNERS ASSOCIATION, INC.

Developer / declarant

CAPITALCORP, Inc.

Governing law

Texas Property Code Section 209.004 1(b) provides that the Declaration may be amended by a vote of sixty-seven percent (67%) of the total votes allocated to property owners entitled to vote (Second Amendment, WHEREAS clauses)

Assessments & dues

$180 per quarter year ($720 per year) (Second Amendment, Section 13(c)(3) – mai)

Special assessments

Association may levy a special assessment to cover repair/reconstruction costs in excess of insurance proceeds (First Amendment, Section 12.D)

Reserves & fees

Reserve funds are in the custody of the Association; fidelity bond amount references reserves (First Amendment, Section 11.B(a)(iv))

Pets

Dogs, cats or other normal household pets allowed, provided not kept for commercial purposes (Second Amendment, Section 3(g))

Parking & vehicles

Trucks with payload capacity of 7 tons (14,000 lbs) or more not permitted to park on streets for extended period beyond 48 hours. (Second Amendment, Section 3(c))

Maintenance

Explicitly excluded from Association maintenance ('exclusive of the roof') – likely owner responsibility (Second Amendment, Section 13(c)(3): 'ext)

Insurance

Deductible considered a maintenance expense; may be apportioned by Board among affected Owners in proportion to their share of loss. If policy applies deductible per residence, each Owner responsible for their own deductible. (First Amendment, Section 11.E)

Voting & meetings

Each owner given one vote per lot. No owner shall own more than 25% of the 32 lots. Voting may be in person, by proxy, or electronically by secure means. (Second Amendment, Section 13(c)(6))

Amendments

All amendments must be approved by a majority vote of the thirty-two Owners (First Amendment). Alternatively, Texas Property Code requires 67% vote (Second Amendment). Amendment must be recorded. (First Amendment Section 2; Second Amendm)

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