Tranquility at the Trails of Park Ridge

Key facts from Tranquility at the Trails of Park Ridge's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

single-family residential sub-association (Recital C: 'single-family housing projec)

Legal name

Tranquility at the Trails of Park Ridge Owners Association

Developer / declarant

Trails of Park Ridge, LLC, a Missouri limited liability company (First paragraph)

Governing law

Missouri Nonprofit Corporation Act (Chapter 355 RSMo) and CID Act (Sections 67.1401-67.1571 RSMo) (Recital M, Section 1.7)

Assessments & dues

Board of Directors submits proposed budget to District at least 90 days before end of Fiscal Year; Tranquility Assessment for each lot established by Board no later than June 30 of each year based on budget (Section 5.3)

Special assessments

Board may levy specific assessments against individual Tranquility Lots for costs incurred due to breach of declaration or negligence/willful misconduct of Owner or their agents, family, guests, tenants, invitees, contractors, or for other (Section 5.10)

Collections & liens

All Tranquility Assessments, interest, late fees, costs and attorneys' fees constitute a continuing lien on the lot, superior to other liens except valid first mortgage and District assessment lien. Association may file certificate of nonpa (Section 5.9.2, 5.9.3, 5.9.4)

Reserves & fees

Board will determine and establish adequate reserves for desired capital improvements and for maintenance, repair and replacement of Tranquility Maintenance Area improvements; amounts included in annual budget (Section 5.8)

Architectural approval

yes, each Tranquility Unit must be designed and constructed in accordance with the Design Guidelines attached as Exhibit C (Section 1.27)

Maintenance

Owner maintains all exterior building surfaces, including roof (Section 4.3: 'all exterior building surf)

Insurance

Board may obtain public liability insurance, fidelity insurance, and other insurance as deemed necessary or desirable (Article Six)

Use restrictions

yes (Recital C: 'establish the Project as a s)

Voting & meetings

One vote per Tranquility Lot; if multiple owners, single vote per lot; Declarant has votes equal to total votes of all Members multiplied by three until Turnover Date; proxy voting prohibited (Section 3.1, 3.4, 3.9)

Amendments

Owners representing at least 67% of votes held by all Members may abolish or change covenants by signed recorded instrument. Declarant may amend unilaterally until first lot conveyed to non-builder, and as long as Declarant is a Member with (Section 7.1, 7.2, 7.3, 7.4)

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