Oak Landing Homeowners A

Key facts from Oak Landing Homeowners A's documents

Reflects the 1996 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Units / lots

at least 10 (present number of votes that can be cast is ten) (Article III, Section 3.2)

Developer / declarant

TRICOAST INVESTMENT COMPANY

Governing law

Condominium Act of the State of Texas (Article II, Section 2.1)

Assessments & dues

Initial maximum maintenance charge of $35.00 per month or $420.00 per annum per Lot until increased in By-Laws (Amendment Article II, Section 5(a) (firs)

Special assessments

Board may levy and collect special assessments to meet increased operating or maintenance expenses or costs, and additional capital expenses. (Article V, Section 5.3(e))

Collections & liens

Board may collect delinquent assessments by suit or otherwise and enforce liens as provided in the Declaration and By-Laws. (Article V, Section 5.3(f))

Reserves & fees

Management company shall prepare five (5) year sinking fund reserve budget projection for capital expenditures on items recurring periodically. Fidelity bond required in amount not less than three (3) months' assessments plus reserves. (Article VII, Section 7.1(a)(2); Article )

Architectural approval

Yes, Architectural Committee approval required for plans (Amendment Article X, Section 9 (added))

Maintenance

Association responsible for General and Limited Common Elements; Owners responsible for their Units and for shoreline maintenance of abutting Pond Areas. (Article V, Section 5.3(c); Amendment Art)

Insurance

Insure all insurable Common Elements for maximum replacement value; also obtain comprehensive liability insurance: $100,000 per person, $300,000 per accident, $50,000 property damage, plus $1,000,000 umbrella policy; insure fixtures, equipm (Article V, Section 5.3(d))

Voting & meetings

one vote per unit; voting cannot be split among Unit Owners; Class B Member (Declarant) entitled to three votes for each unoccupied Lot owned (Article III, Section 3.2; Amendment Arti)

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