Haggar Square Owners Association

Key facts from Haggar Square Owners Association's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Haggar Square Owners Association, Inc. (Article I definition of Association)

Developer / declarant

Preston/121 Joint Venture, a Texas joint venture (Preamble and Article I definition of Dec)

Governing law

State of Texas and United States laws applicable to transactions in Texas (Article VIII §8.7)

Assessments & dues

Board sets aggregate Regular Assessment each quarter; each Owner pays its Pro Rata Share (defined as acres owned divided by denominator 49.670 minus 9.702). (Article III §3.3, definitions Pro Rata S)

Special assessments

May be levied for reconstruction, unexpected repair, replacement, or unanticipated expenses; must be approved by Declarant while it owns at least one tract, thereafter by two-thirds of votes of Members present at a meeting with quorum and 1 (Article III §3.4, §3.5)

Collections & liens

Deed of trust lien on each tract to secure assessments; can foreclose under Texas Property Code §51.002; subordinate to first mortgage; Association may record notice of assessment and sell at public auction; personal obligation of Owner con (Article III §3.11)

Reserves & fees

Balance of insurance proceeds remaining after repair/replacement shall be retained as general reserve fund for repair and replacement of Common Facilities. (Article V §5.2)

Maintenance

Association responsible for operation and maintenance of all Common Facilities, including landscaping, mowing, pruning, etc. within Lakes Systems. (Article IV §4.1(a); Article VI §6.3)

Voting & meetings

Each Owner is a Member; voting as provided in Bylaws; majority of votes entitled to be cast by Members present or by proxy decides actions; no voting rights while assessment delinquent; corporate/entity Owners must designate Voting Members; (Article II §2.1, §2.2, §2.3)

Amendments

Before January 31, 2010 or while Declarant owns a tract and 51% of votes, amendment requires Declarant's affirmative vote; after that, 75% of total eligible votes; certain amendments (affecting Article II, increasing assessments, materially (Article VIII §8.2)

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