Lakewood HOA, Inc.

Key facts from Lakewood HOA, Inc.'s documents

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

Community type

HOA (Lakewood HOA, Inc.) (Section 1 Definitions – Association; Sec)

Developer / declarant

Prosper 236, LLC, a Texas limited liability company (First page: Declarant; Recitals)

Governing law

Texas Property Code, Texas Business Organizations Code, and other applicable Texas law (Section 3.3(a)(i) references Texas Prope)

Assessments & dues

Board determines total amount of assessments necessary for budget; allocated per Assessment Unit as defined in Section 5.9 (Section 5.1(a); Section 5.9 Amount of As)

Special assessments

Allowed (Section 5.6 Special Assessments) (Section 5.6)

Collections & liens

Assessment is a lien on the Lot; Association has power to foreclose (Section 5.13) (Section 5.1(b); Section 5.13)

Reserves & fees

Reasonable reserve for capital repairs and replacements may be included in expenses (see Service Area Expenses, Special Common Area Expenses) (Section 5.5 Service Area Expenses; Secti)

Leasing & rentals

Not explicitly; permissively implied by ownership rights (No restriction in this Master Covenant)

Fences

Not detailed; subject to Architectural Approval (Section 6.5) and Design Guidelines (No specific fence provision)

Architectural approval

Yes, prior approval required for construction, alteration, or improvement (Section 6.4); also for Regulatory Submission Items (Section 2.1(c)) (Section 2.1(c); Section 6.4)

Maintenance

Owner (since part of Lot improvement) (Section 4.1; Section 4.2)

Insurance

Association may obtain liability and property damage insurance on Common Area, but not on individual Lots (Section 4.1)

Use restrictions

Lots are designated as Residential Lots for single-family residential use (Definitions – Residential Lot; also Sect)

Voting & meetings

Each Residential Lot: one vote. Co-owners: majority agreement controls. Declarant: 4 additional votes per each other vote outstanding until Development Period ends. (Section 3.4 Vote Allocation)

Amendments

Referenced in Section 11.3 but not fully stated; likely requires vote of Owners and Declarant consent during Development Period (Section 11.3)

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