Northwood Village Property Owners Association

Key facts from Northwood Village Property Owners Association's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners association (not a condominium); planned residential community (Section 1.1 (intent to create general pl)

Developer / declarant

Northwood Holdings, LLC, an Oklahoma limited liability company (Introductory paragraph before Part One)

Governing law

Real estate development and owners association within the meaning of 60 OS. §851 et seq. (not a unit ownership estate under 60 OS. §501 et seq.) (Section 1.1 final paragraph)

Assessments & dues

Not initially specified; initial Base Assessment set forth in Exhibit E (not provided in extracted text) (Section 8.1: 'initial amounts set forth )

Special assessments

Levied to cover unbudgeted or excess expenses; requires affirmative vote/written consent of more than 50% of total votes allocated to Lots subject to the assessment, plus Class B Member (Section 8.3)

Collections & liens

All assessments and charges are a lien on the Lot from time delinquent; superior to all other liens except those deemed superior by Oklahoma law; Association may foreclose by suit; sale/transfer does not affect lien; first mortgage foreclos (Section 8.7)

Reserves & fees

Board shall prepare and review at least annually reserve budgets for Common Area; capital contributions to fund reserves included in Common Expense budget (Section 8.2)

Leasing & rentals

Yes; no rule shall prohibit leasing or transfer; Association may require minimum lease term up to 12 months; may require use of approved lease forms; may not impose fee greater than reasonable cost (Section 3.4(5))

Fences

Fences are modifications subject to DRB approval (included in list of modifications) (Section 4.3: 'fences' listed as modifica)

Architectural approval

Yes; Design Review Board (DRB) has primary jurisdiction over all design review; DRB may delegate to Association (then ARC); Declarant acts as DRB until earlier of termination of Class B Control Period or assignment (Section 4.1; Section 4.2 (new constructi)

Maintenance

Owner: Lot maintenance (Section 5.1). Association: Common Area maintenance (Section 7.2). Association may enter Lot for maintenance if Owner fails and assess costs as Specific Assessment (Section 7.4). (Section 5.1; Section 7.2; Section 7.4 fi)

Insurance

Deductible treated as Common Expense; but may be assessed as Specific Assessment against Owner(s) if loss is due to negligence/willful misconduct (Section 7.3.2 last sentence)

Use restrictions

Lots are intended for single-family residence; Association may prohibit activities not normally associated with residential use (Section 2.11 (Lot definition); Section 3)

Voting & meetings

Two classes: Class A (all Owners except Class B) – one vote per Lot; Class B (Declarant) – special voting rights; votes exercised by the Member representing the Lot (Section 6.3 (1), (2), (3))

Amendments

By Declarant (Section 17.1) and by Members (Section 17.2); details not fully extracted. No amendment shall be valid without Declarant's consent as long as Declarant owns property described in Exhibits A or B (Section 1.3). (Section 17; Section 1.3)

Amenities

Not detailed in this extract; Section 7.9 lists examples: greenbelts, trails, paths, town center, parks, roads, sidewalks, medians, parking lots; no specific pool, clubhouse, gym, lake mentioned (Section 7.9)

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