Country Hollow

Key facts from Country Hollow's documents

Reflects the 1983 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Country Hollow Owners Association

Units / lots

104 (Page 9: four (104) separately designated)

Developer / declarant

The Matthews Company

Governing law

Oklahoma Unit Ownership Act (Section 1.1: Act shall mean the Oklahoma)

Assessments & dues

Not fixed; determined annually by Board based on budget (Section 4.2)

Special assessments

Levied by Board for unbudgeted expenses; capital improvements exceeding 10% of budgeted Maintenance Fund require 51% First Mortgagee approval (Section 10.1B(1)) (Section 4.3, Section 10.1B(1))

Collections & liens

Association has lien on Condominium for unpaid assessments; enforceable by foreclosure; subordinate to first mortgages (Section 4.6)

Reserves & fees

Replacement reserve included in annual budget; collected assessments allocated between operating and reserve (Section 4.1, Section 4.2F)

Pets

Only usual household pets; no animals for commercial purposes; no savages or menagerie (Section 7.6)

Leasing & rentals

Yes, for single-family residential purposes only (Section 7.3)

Home business

Prohibited; no business, profession or trade may be carried on in any Unit or Common Elements (Section 7.1)

Signs & flags

Signs visible from exterior prohibited unless approved by Board; 'For Sale' and 'For Rent' signs included (Section 7.5)

Maintenance

Association (part of Common Elements) (Section 2.3A(1): roofs included in Gener)

Insurance

Property insurance on Condominium Project (excluding land, foundation, excavation) for maximum insurable replacement value; liability insurance $1,000,000 per occurrence (Section 11.1A, 11.1B)

Use restrictions

Single-family residential purposes only (Section 7.1, Section 7.3)

Voting & meetings

Each Condominium entitled to one vote; percentage votes used for certain matters (based on Common Interest) (Section 3.3A: Each Condominium shall be )

Amendments

Requires 75% undivided Common Interest approval and 51% of First Mortgagees (one vote per mortgage); recorded instrument with Secretary's affidavit; Developer may amend unilaterally before first annual meeting for governmental requirements, (Section 10.2)

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