Murphys Landing

Key facts from Murphys Landing's documents

Reflects the 1994 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

homeowner association (HOA) (Section 1, definitions (Corporation, HOA)

Units / lots

88 (40 in Killarney Hill Section 1, 48 in Shannon Lakes Section 1) (Section 1, Paragraph 4)

Developer / declarant

Yeager Realty LLC (Section 1, initial paragraph)

Assessments & dues

Initially guaranteed not to exceed $100 per year (Guaranteed Charge); can increase up to 20% annually on January 1. After guarantee period, budget approved by owners sets assessment. (Paragraph 16 (f))

Special assessments

Requires assent of 2/3 of votes of each class of Members. Declarant's proxy does not apply. (Paragraph 16 (d))

Collections & liens

Unpaid assessments become a lien on the Lot; may be foreclosed as a mortgage. Owner personally liable. (Paragraph 16 (h))

Reserves & fees

Budget may include a replacement reserve fund for capital expenditures and replacement of Common Areas/Common Expense Areas; maintained in interest-bearing accounts. (Paragraph 16 (b) (first full paragraph a)

Pets

Yes, dogs, cats, and customary household pets may be kept in Dwelling Unit. No commercial breeding. Must be under restraint. Owner fully liable for injury/damage. Board may adopt rules and order removal of nuisance pets within 10 days. (Paragraph 19 (e))

Leasing & rentals

Yes, but must lease entire Dwelling Unit. Written lease required, subject to Declaration. No transient or hotel purposes. Lease must state that lessee's failure to comply with Declaration is a default under lease. (Paragraph 19 (n) and (o))

Architectural approval

Yes. No improvements, alterations, repairs, excavation, grade changes, buildings, fences, walls, or other structures shall be commenced without prior written approval of Architectural Review Board. (Paragraph 14 (c))

Insurance

Corporation shall purchase master casualty insurance (fire and extended coverage, all risk if obtainable) on improvements in Common Areas and Common Expense Areas at full replacement value. Also master comprehensive public liability insuran (Paragraph 17 (a), (b))

Use restrictions

All Lots and Dwelling Units used exclusively for residential purposes and occupancy by a single family. (Paragraph 19 (a))

Voting & meetings

Two classes: Class A (each Lot one vote); Class B (Declarant, 4 votes per Lot until Applicable Date). Class B ceases upon Applicable Date. (Paragraph 7 (b))

Amendments

Amendments generally require majority of votes of all Owners (with notice and meeting). Special amendments (changing assessment share, insurance, reconstruction, ARB) require unanimous Owner and Mortgagee approval. Additional special amendm (Paragraph 20)

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