Perimeter Park Phase I Owners Association Inc

What Perimeter Park Phase I Owners Association Inc's governing documents say

This is a legal amendment to an easement agreement between a commercial property owner (C4) and the Perimeter Park Phase I Owners' Association, not a set of community rules. It governs cost-sharing for stormwater pond maintenance and is relevant to the association's finances, not to homeowners' daily living.

• What this document is: It's a second amendment to an easement agreement, adjusting how C4 and the association share costs for repairing and maintaining a stormwater pond on the association's property.
• Cost-sharing for stormwater pond: C4 will pay 6.2% of the association's actual costs for stormwater pond repair and maintenance. Within that, C4 Holdings pays 41% and C4 Residual pays 59% of C4's share.
• Billing and payment process: The association sends an annual itemized statement of estimated costs; C4 pays within 30 days. After year-end, the association sends a reconciliation, and any additional payment or refund is due within 30 days.
• Audit and dispute resolution: C4 can audit the association's records once per year, within two years of a disputed statement. Disputes go to an independent CPA, whose decision is binding. Overpayments are refunded within 30 days.
• What this document doesn't cover: This document does not contain community rules for homeowners—no pet policies, leasing rules, architectural guidelines, or other typical HOA covenants. It only addresses the easement and cost-sharing between the association and a commercial neighbor.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.