Stonepoint

Key facts from Stonepoint's documents

Community type

Covenant / Planned Community

Governing law

60 O.S. §851 (Oklahoma Unit Ownership Act, as amended) (Recitals (page 6))

Assessments & dues

Board of Directors determines estimated aggregate Common Expenses and assesses each Unit pro rata according to percentages in Exhibit B (Section 14 (page 19))

Special assessments

Assessments may include deficit from prior period and reserves; Board may increase assessments at any time (Section 14 (page 19))

Collections & liens

Unpaid assessments constitute a lien on the Unit, enforceable by judicial foreclosure (like a mortgage). Notice of lien may be recorded. (Section 16 (page 21?))

Pets

Only household pets permitted; no breeding for commercial purpose; must be kept under restraint and not offensive (Section 4 (page 15))

Leasing & rentals

Yes, but not for transient or hotel purposes; minimum 30-day term. All leases subject to this Declaration. (Section 4 (page 13))

Architectural approval

Temporary structures, signs, and other alterations require prior written consent of Association (Section 4 (page 15))

Maintenance

Owner responsible for maintenance, repair of all portions of Unit including party walls (Section 9). Association responsible for maintenance, operation, repair of Common Elements (Section 10). (Sections 9 and 10 (page 16?))

Insurance

Master Policy on Common Elements (replacement cost, extended coverage, all risk, inflation guard); comprehensive general liability ($1,000,000 per occurrence initially); fiduciary fidelity bond for funds handlers (min 1.5x annual budget or (Section 19 (pages 25-27))

Use restrictions

Units shall be used and occupied only for single family residence purposes by Owner's family or guests (Section 4 (page 13))

Amendments

Consent of 75% of Unit Owners and 51% of recorded first mortgagees (with passive approval if no response within 30 days); certain amendments require unanimous consent. (Section 12 (page 17))

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