Breakwater Master Homeowners Associaiton Of

Key facts from Breakwater Master Homeowners Associaiton Of's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Master Homeowners Association (with condominium component) (Page 1-2 recitals)

Legal name

Master Homeowners Association of Breakwater

Units / lots

149 (80 single family + 69 twinhome) (Page 2 recitals)

Developer / declarant

Breakwater L.L.C., a Delaware limited liability company (Section 1.9 and preamble)

Governing law

Unit Property Act of the State of Delaware (25 Del. C. § 2201 et seq.) (Section 1.6)

Assessments & dues

Set by Board sufficient to meet Common Expenses (Section 5.3(a))

Special assessments

Can be levied; requires 67% member approval unless emergency; also can be levied against specific owner for compliance after notice and hearing; budget amendments follow similar rules (Section 5.5)

Collections & liens

Assessment is a continuing lien on the Lot or Unit; personal obligation of owner; Association can foreclose; lien subordinate to first mortgage (Sections 5.1, 5.9, 5.10)

Reserves & fees

Board annually prepares reserve fund budget; contribution included in assessments; separate interest-bearing account; reserves cannot be used for other purposes unless approved by 67% of members present at meeting, except for emergency (Section 5.11)

Use restrictions

All buildings shall be used for residential purposes exclusively (Section 7.1)

Voting & meetings

Each Owner of a Lot or Unit is a Member; one vote per Lot or Unit; multiple owners decide among themselves how to cast vote; fractional vote if conflicting (Section 4.2)

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