Town Homes of Addison

What Town Homes of Addison's governing documents say

This is a condominium declaration for a 6-unit airplane hangar community (15770 Midway Road Condominiums) in Addison, TX. You own a hangar unit and an undivided interest in common elements including runways, aprons, and parking. The association maintains the exterior and common areas, while owners are responsible for interior repairs and hangar doors. The community is designed for airplane storage, not residential use, though an apartment space may be added with board approval.

• What you own & maintain: You own the interior of your unit (hangar space) and are responsible for its repair, including the hangar door. The association maintains the exterior, common elements (runways, parking, grounds), and provides master insurance. Limited common elements like parking spaces and tie-down areas are reserved for specific units.
• Approved uses: Units must be used exclusively for airplane hangar storage. Parking spaces are for passenger cars only. If an apartment is constructed within a unit with board approval, it can be used for residential or transient purposes. No obstruction of common elements, no signs, no offensive activities, and no clotheslines or debris.
• Assessments & fees: The board estimates annual cash requirements and assesses owners based on their percentage interest in common elements. Monthly installments are due on the 1st. Assessments can be increased if needed. The association has a deed of trust lien on each unit to secure payments, and can foreclose for nonpayment.
• Alterations & improvements: No exterior alterations, antennas, or structural changes without prior board approval. Approval is deemed given if not answered within 30 days. Any work must not impair structural integrity.
• Rules & enforcement: The board can adopt and enforce rules. Violations can be abated by the board (entry and removal at owner's expense) or through legal action. Costs and attorney fees can be assessed against the violating unit and secured by a lien.
• Insurance & damage: The association carries hazard and liability insurance on the project. Insurance proceeds are used to repair damage. If insufficient, owners may be specially assessed. Owners are liable for damage caused by their negligence.
• Board & voting: The board has 6 members, one per unit. Each owner gets one vote per unit owned. Developer retains control until earlier of one year or sale of all units. Major expenditures over $10,000 require owner approval.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.