Fox Run Homeowners Association (MA)

Key facts from Fox Run Homeowners Association (MA)'s documents

Reflects the 2011 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (HOA) for a residential subdivision (Article I, Declaration of Trust)

Legal name

Fox Run Homeowners Association Trust

Units / lots

84 lots (Lots 1 through 84 on the plan) (Exhibit A (Lots 1 through 84 on plan); a)

Developer / declarant

Paddock & Corrals LLC, a Massachusetts Limited Liability Company (Introduction)

Assessments & dues

Assessments for Common Expenses set annually by Trustees before December 1, based on estimated expenses plus contingency and reserves, less unneeded balances. Additional assessments as needed. (Article VII, Section 7.1.2)

Special assessments

Allowed: Trustees may levy additional Common Expense assessments as needed. (Article VII, Section 7.1.2 (such other a)

Collections & liens

Unpaid assessments secured by lien on Lot, enforceable under M.G.L. c. 254 §5. Lien has priority over all except municipal liens and first mortgages of institutional lenders. Trust may foreclose or sue. (Article VII, Sections 7.1.4, 7.1.6)

Reserves & fees

Capital Reserve Account for septic system: annual contribution not less than $4,500 until balance reaches $90,000; then lesser of $4,500 or amount to bring to $90,000. General Reserves for common area maintenance authorized. Emergency Repai (Article VII, Sections 7.2.1, 7.2.2, 7.2.)

Voting & meetings

Each Lot Owner has one vote. Prior to Takeover Event, Original Trustee alone constitutes majority. After Takeover Event, majority vote of Lot Owners present and voting at meeting with quorum. Trustees vote by majority (quorum majority but n (Article IV, Sections 4.4, 4.5; Article V)

Amendments

Affirmative vote of majority of Trustees and not less than 67% of Lot Owners. Amendment recorded with Norfolk Registry of Deeds. Declarant/Successor Declarant may amend unilaterally while owning interest, for certain purposes. (Article XI, Section 11.1, 11.4)

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