Salerno Residential Community Inc

What Salerno Residential Community Inc's governing documents say

This is the master covenant document for Salerno, a large master-planned residential community in Round Rock, Texas, still being built out by the developer KB Home. This document sets up the community association and its powers, architectural controls, assessment rules, and declares that no lot or home is actually subject to it until the developer records a separate Notice of Applicability.

• What type of community this is: Salerno is a master-planned community (up to 1,350 lots; note that this maximum can be changed by the developer while it is developing). Individual neighborhoods within Salerno may have their own stricter rules (a Development Area Declaration) in addition to these master covenants.
• Who the rules bind & how they take effect: No part of the property described in Exhibit A is subject to this covenant until the developer records a 'Notice of Applicability' for that specific portion. After that, the rules bind all owners, occupants, and tenants.
• Architectural review: The developer (as 'Salerno Reviewer') controls approval of all improvements, landscaping, and modifications until the development period ends (50 years from recording, unless ended earlier). After that, the architectural control committee appointed by the Board takes over. Design Guidelines may be adopted but are not required.
• Assessments & fees: The Board sets regular assessments, and can also levy special assessments, working capital assessments, service area assessments, and individual assessments. Late charges apply, and unpaid assessments become a lien on the property. The association can foreclose. The document also allows transfer fees (via a Community Enhancement Covenant).
• Leasing & rentals: This covenant does not restrict lease terms or rentals. Check the specific Development Area Declaration for your neighborhood.
• What this document doesn't cover: This is a master-level framework document. It does not contain specific rules about pets, parking, holiday decorations, or lease minimums. Those would be in the community's Rules, Bylaws, Community Manual, or a separate Development Area Declaration for your particular neighborhood.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.