Red Oak Ridge Property Owners Association, Inc.

Key facts from Red Oak Ridge Property Owners Association, Inc.'s documents

Community type

Property Owners Association (HOA) (Article I: 'Association. The term "Assoc)

Legal name

Red Oak Ridge Property Owners Association, Inc.

Developer / declarant

Deltic Timber Corporation (also defined as Grantor) (Article I: 'Grantor. The term "Grantor" )

Governing law

Arkansas Code (Ark. Code Ann.) (Article IX: 'in accordance with Ark. Cod)

Assessments & dues

Board prepares budget at least annually, determines common expenses, and assesses each charge. Assessment may differ by type of development. (Article VIII, Section 1: 'the Board shal)

Special assessments

Improvement costs: if 50-75% of Memberships agree, cost borne by those agreeing; if 75% or more agree, cost borne by all Members as common expense. Subject to Board approval. (Article VIII, Section 7: 'If fifty perce)

Collections & liens

Board can foreclose lien on Site for unpaid common charges. Owner may be required to pay reasonable rental, receiver may be appointed. Board can bid at foreclosure and acquire Site. Lien is subordinate to recorded first mortgage. (Article VIII, Section 4: 'the Owner shal)

Reserves & fees

Common expenses may include a 'reserve fund for replacements'. (Article VIII, Section 1: 'for a general )

Maintenance

All maintenance, repair, replacements to Common Areas and painting/decorating of exterior of Sites done by Board or its appointee and included as common expense. (Article VIII, Section 6: 'All maintenanc)

Amendments

Bylaws may be amended by Board at regular or special meeting, or by unanimous action without meeting. 7 days written notice required with copy or summary of amendment. Approved by majority of Directors in office. (Article XII: 'These Bylaws may be altere)

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