Stone Valley Ranch 1st

Key facts from Stone Valley Ranch 1st's documents

Community type

Covenant / Planned Community

Legal name

Stone Valley Ranch

Governing law

60 O.S. §§ 851 to 855 (PAGE 6, WHEREAS paragraph)

Assessments & dues

For 2003: $30.00 per Lot (per month inferred) with maximum increase of 20% per year (Section 7.03, PAGE 18)

Special assessments

Must be recommended by Board and approved by two-thirds (2/3) of all Owners of Lots. Also, special assessments for additions/improvements over $20,000 require majority of owners approval. (Section 7.05, PAGE 18; By-Laws 13.01(c),)

Collections & liens

Association may file lien after 30 days delinquency; may foreclose; lien attaches to Lot (Section 7.09b, PAGE 20)

Reserves & fees

Establishment of adequate reserves for repair and replacement of Common Area is a purpose of assessments (Section 7.02, PAGE 18; By-Laws Article 8)

Pets

Yes, but only domestic pets not for commercial purposes; no livestock (Section 4.01e, PAGE 11-12)

Leasing & rentals

Only the entire Lot with the Improvements thereon may be rented; no portion of a Lot may be rented (Section 4.01f, PAGE 12)

Parking & vehicles

Prohibited from parking, keeping, or storing unless in garage or carport (Section 4.01q, PAGE 14)

Architectural approval

Prior written approval of Design Review Committee required for any Improvement, alteration, repair that alters exterior appearance; also for fences, walls, etc. (Section 8.09d, PAGE 24; Section 8.03, PA)

Home business

Allowed if not open to public, wholly contained within residence, no employees other than Owner working on premises, and does not create a nuisance or change residential character (Section 4.01a, PAGE 11)

Signs & flags

Only allowed: (1) signs required by legal proceedings; (2) one construction job identification sign not larger than 3 square feet; (3) signs of Declarant; (4) signs approved in writing by Design Review Committee; all signs must be set back (Section 4.01o, PAGE 14)

Setbacks / home size

Building lines as shown on Subdivision Plat; no Residence or garage closer than 15 feet to side lot line (Section 8.09b, PAGE 23)

Insurance

Association may keep Common Area insured against loss or damage with policy limits it deems advisable; also may insure other property owned by Association (Section 5.03b, PAGE 16)

Use restrictions

Lots used, improved, and devoted exclusively to Single Family residential use and recreational facilities incidental thereto (Section 4.01a, PAGE 11)

Voting & meetings

One vote per Lot; Declarant has 3 votes per Lot owned; multiple owners must agree or lose vote; fractional votes not allowed (Section 6.03, 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.