Prosper Falls Homeowners' Association, Inc.

Key facts from Prosper Falls Homeowners' Association, Inc.'s documents

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

Community type

Single-family home planned community (Preamble: 'development for a single-fami)

Developer / declarant

PROSPER FALLS DEVELOPMENT GROUP, L.C., a Texas limited liability company (Article I, definition (j): 'Declarant sh)

Governing law

Texas Property Code (Article I, definition (m): 'The Governin)

Assessments & dues

$550 per Lot for year 2017 (Article X, Section 10.3.1: 'For the year)

Special assessments

Allowed for capital improvements or Association obligations; requires 51% vote of voting members (Article X, Section 10.1(c): 'special ass)

Collections & liens

Association has lien on each Lot for unpaid Assessments and other charges; may foreclose nonjudicially under Texas Property Code Section 51.002 (Article X, Section 10.10: 'lien... for t)

Reserves & fees

Not mandatory; Board may establish reserves for periodic maintenance and capital needs (Article X, Section 10.15: 'The Associati)

Pets

Yes, domesticated pets (dogs, cats, other household pets) for companionship (Article II, Section 2.7(d): 'Domesticate)

Leasing & rentals

Yes, with written lease and compliance with governing documents (Article II, Section 2.2.1: 'Owners who r)

Parking & vehicles

Generally prohibited for certain vehicles; Board may establish rules (Article II, Section 2.6(b): 'parking for)

Fences

Fences must be located 10 feet behind front line; structural members and posts on side of Owner; fences facing public street maintained by Owner except as provided (Article II, Section 2.8: 'located ten (1)

Architectural approval

Yes, prior written approval required for all exterior modifications, construction, and improvements (Article III, Section 3.1 and Section 2.1)

Home business

Small home office (quiet, inoffensive) allowed; no commercial manufacturing except builder's sales office (Article II, Section 2.7(h): 'Nothing in )

Signs & flags

Limited: one real estate sign, one home occupation sign, school spirit signs, political signs (placed 6 weeks before election, removed within 2 days after), builder signs (Article II, Section 2.7(k): 'No sign of )

Setbacks / home size

Subject to building lines and Town of Prosper Zoning Ordinance; minimum lot depth 135 ft (Article II, Section 2.7: 'The setback re)

Maintenance

Owner maintains Lot and improvements; Association maintains Common Properties (Article V, Section 5.2: 'Each Owner shal)

Insurance

Association may maintain general liability and directors & officers liability insurance if reasonably available (Article XI, Section 11.5: 'Association s)

Use restrictions

Yes, single-family residential use (Article II, Section 2.1: 'The Property s)

Voting & meetings

Each Lot (Class A Member) entitled to one vote; Declarant has Class B membership until 99% of lots sold (Article VIII, Section 8.2: 'Class A Memb)

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