The Terrace Residential Condominium Association

Key facts from The Terrace Residential Condominium Association's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title: 'RESIDENTIAL CONDOMINIUM DECLARAT)

Units / lots

Maximum of 95 Residences (Section 1.1, definition of 'Residential )

Developer / declarant

Blocks F&H, L.P., a Texas limited partnership (Section 1.1, definition of 'Residential )

Governing law

Uniform Condominium Act, Texas Property Code, Chapter 82, Section 82.001 et seq. (Section 1.1, definition of 'Act')

Assessments & dues

Residential Association establishes Monthly Residential Assessment sufficient to pay Residential Common Expenses; budget delivered to owners (Section 7.1(a) and (b))

Special assessments

Residential Association may establish Special Residential Assessments for operation, management, maintenance, replacement of Common Elements, and share of Master Association special assessments (Section 7.1(c))

Collections & liens

Residential Association has lien on each Residence, Residential Rents, and Insurance Proceeds; may enforce by non-judicial foreclosure sale; lien prior to other liens except Residential Lien Indebtedness recorded before delinquency and unpa (Section 7.4)

Reserves & fees

Residential Association shall establish and maintain adequate reserve fund funded by Monthly Residential Assessments (Section 5.1(b))

Leasing & rentals

Yes, Residences, Parking Spaces, and Storage Spaces may be leased (Section 3.2)

Architectural approval

Residence Owner must obtain prior written approval of Residential Association and Master Association for additions, alterations, improvements visible from other Residences or exterior, changes to floor plan, or material changes to configura (Section 5.3)

Maintenance

Residence Owner responsible for maintenance, repairs, replacements of Residence including interior non-structural walls, doors, Residential Systems, outlets, floor coverings; Residential Association responsible for Residential Common Elemen (Section 5.1(a) and (b))

Insurance

Residential Association shall obtain all insurance coverage required of an 'Owner' in Master Declaration and liability insurance for directors, trustees, employees (Section 6.2(a))

Use restrictions

Residential Property subject to limitations on use, occupancy, architectural standards as set forth in Governing Documents (Section 3.1)

Voting & meetings

Allocation based on Residential Allocated Interests; a majority of Residence Owners calculated on the basis of Residential Allocated Interests (Section 4.2)

Amendments

Amendment requires instrument in writing executed by not less than 67% of Residential Allocated Interests and by not less than 67% of Residential Mortgagees; certain changes require 100% consent (Section 12.3)

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