Eaglewood Townhomes Owners Association Inc.

Key facts from Eaglewood Townhomes Owners Association Inc.'s documents

Reflects the 1993 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (townhome association – separate lot ownership) (Definitions 8, 13, 17)

Developer / declarant

Resolution Trust Corporation as Receiver for Victoria Savings Association (Preamble)

Governing law

Texas Non-Profit Corporation Act (Article 1396, Texas Revised Civil Statutes, as amended) (Definition 2)

Assessments & dues

Determined annually by Board of Directors based on maintenance costs, expenses, and reserves (Article IV, Section 3)

Collections & liens

Assessment constitutes a continuing lien on the townhome; Association has power of sale under Texas Property Code §51.002 (non-judicial foreclosure) and may also bring personal action (Article IV, Section 8)

Reserves & fees

Must establish and maintain adequate reserve for replacement, repair, maintenance, taxes, insurance (Article IV, Section 3)

Pets

Yes – dogs, cats, or other usual household pets; maximum 2; no commercial breeding (Article XI, Section 7)

Leasing & rentals

Yes, with written lease subject to Declaration, Bylaws, and Rules; minimum term 30 days (Article II, Section 3)

Architectural approval

Yes, for any building, fence, wall, structure, exterior addition, change, or alteration – plans and specifications must be submitted to Board of Directors and Architectural Committee for written approval (Article IX)

Home business

Prohibited (Article XI, Section 2)

Insurance

Property: lesser of $10,000 or 1% of the sum insured; Flood: lesser of $5,000 or 1% of policy face amount (Article VI, Section 1(a)(1) and (a)(4))

Use restrictions

Each townhome shall be used only as a private residence; no professional, business, or commercial use (Article XI, Section 2)

Voting & meetings

One vote per townhome owned; if multiple owners, they must agree; contract purchasers may vote only with seller's written approval (Article I, Section 5)

Amendments

By meeting of Owners with approval of not less than 67% of total voting membership and 51% of First Mortgagees; evidenced by written instrument recorded in Smith County (Article XIII, Section 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.