Centennial Professional Office Condominiums Owners Association, Inc.

What Centennial Professional Office Condominiums Owners Association, Inc.'s governing documents say

Centennial Professional Office Condominiums is a commercial office condominium in Frisco, TX — you own an office unit within a building and share ownership of common elements, which the association maintains. This declaration governs unit boundaries, assessments, maintenance obligations, and easements. It binds unit owners and their successors, and is structured for professional/business use, not residential.

• What you own & maintain: You own the interior of your unit, including finishes, fixtures, and HVAC that exclusively serves the unit. The association maintains all general common elements (e.g., driveways, landscaping, parking, exterior) and may designate certain unit features as 'Areas of Common Responsibility.' You are responsible for janitorial services and keeping your unit and limited common elements (e.g., assigned parking, porch) in good condition.
• Assessments & fees: Four types: Regular (annual budget, paid monthly/quarterly/yearly), Special (for unanticipated expenses or improvements, requires majority vote), Individual (for violations, fines, insurance deductibles, sub-metered utilities), and Deficiency (for repair shortfalls after insurance). Assessments are a personal obligation and a continuing lien on the unit. Late fees and interest (up to 18%) apply. The board can suspend access to common elements and voting rights for delinquencies over 30 days.
• Limited common elements & parking: Limited common elements (e.g., front porches, patios, decks, and parking spaces marked 'LCE') are assigned for the exclusive use of specific units. Parking spaces not so designated are general common elements available to all owners. Reallocation of limited common elements requires an amendment approved by affected owners.
• Unit boundaries & interests: Unit boundaries are defined by upper/lower horizontal planes and vertical perimetrical wall surfaces. Common element interest, common expense liability, and voting power are allocated based on air-conditioned square footage (see Appendix B). Votes total 100, distributed proportionally.
• Insurance & liability disclaimers: The association maintains master insurance. The declaration explicitly disclaims any duty to provide security or guarantee safety from criminal acts. Owners waive claims against the association for health, safety, or security matters. The association is not liable for losses due to inadequate security.
• What this document doesn't cover: This declaration does not address leasing rules, use restrictions (e.g., types of businesses allowed), architectural review procedures, or pet policies (as this is a commercial condominium). Those may be covered in separate Rules or Bylaws not included here.

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.