Hyer Plaza Condominium Association, Inc.

Key facts from Hyer Plaza Condominium Association, Inc.'s documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title page)

Developer / declarant

Hyer One, Ltd., a Texas limited liability company (Preamble; Article I, 'Declarant' definit)

Governing law

Texas Uniform Condominium Act, Texas Property Code, Chapter 82 (Article I, 'Act' definition)

Assessments & dues

Board of Directors establishes Monthly Assessment sufficient to pay Common Expenses; budget prepared and delivered to Owners prior to each fiscal year (Article VI, Section 6.1)

Special assessments

Special Assessments may be established by Board of Directors for nonrecurring Common Expenses, approved by affirmative vote of Owners holding at least 67% of votes (Article VI, Section 6.2)

Collections & liens

Association has a lien on Owner's Unit, Rents, and Insurance Proceeds for unpaid Assessments; lien is prior to all other liens except first lien indebtedness recorded before delinquency; Association may foreclose by power of sale or judicia (Article VI, Section 6.4)

Reserves & fees

Association shall establish and maintain an adequate reserve fund for periodic maintenance, repair, and replacement of Common Elements (Article V, Section 5.1(b))

Leasing & rentals

Yes, Owners may lease Units subject to Declaration, Bylaws, and Regulations; Tenant must comply; copy of lease submitted to Association (Article III, Section 3.1(b))

Parking & vehicles

Non-guest parking spaces and garage facilities are for the pertinent Owner; cost not a Common Expense; no parking space may be altered without Board consent; Declarant may assign parking spaces and receive compensation (Article II, Section 2.1(c))

Architectural approval

Yes, for alterations affecting structural soundness, integrity, exterior appearance, systems serving more than one Unit, or warranties; also for changes to parking spaces (Article V, Section 5.2)

Signs & flags

Declarant may install advertising signs, billboards, flags, and sales offices during development; no other sign restrictions found (Article I, 'Development Rights' definiti)

Maintenance

Not explicitly specified; likely Association as part of Common Elements (Article V, Section 5.1(b) - Association )

Insurance

Association shall obtain general liability and casualty insurance as required by Section 82.111 of the Act (Article V, Section 5.3(a))

Use restrictions

Yes, except for Declarant's units; no Unit shall be used for other than single family residential purposes (Article III, Section 3.1(a))

Voting & meetings

Each Owner has a vote equal to their undivided fractional ownership interest in the Common Elements; voting rights may be suspended for delinquency in Assessments or other default (Article IV, Section 4.2)

Amendments

Amendment requires approval of 100% of votes of Association; Declarant approval needed if it owns Units and amendment affects its obligations or rights; Declarant may amend without vote to meet Fannie Mae/Freddie Mac/FHA/VA requirements or (Article X, 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.