Valley Run Homeowners Association

Key facts from Valley Run Homeowners Association's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Valley Run Homeowners Association

Governing law

New Jersey Nonprofit Corporation Act, N.J.S. 15A:1-1 et seq. (Article VI, Section 6.01)

Assessments & dues

Set by Board of Trustees; not fixed in Declaration (Article IV, Section 4.03)

Special assessments

Board may levy Special Assessment for reconstruction, unexpected repair, replacement, or for emergency protection (Article IV, Section 4.06)

Collections & liens

Unpaid assessments constitute a continuing lien on the Lot; may be foreclosed like a mortgage; also personal obligation of owner (Article IV, Sections 4.01, 4.02)

Reserves & fees

Late charges are included in collection costs (amount not specified) (Article IV, Section 4.01)

Voting & meetings

Each Beneficial Member has one vote per Lot; Declarant is a member; co-owners split vote if they disagree (Article II, Section 2.01; By-Laws, Secti)

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