Eldorado Est West HOA

What Eldorado Est West HOA's governing documents say

This is a second amendment to the Declaration of Covenants, Conditions and Restrictions for Eldorado Estates West Phase 1, a single-family HOA in Frisco, TX. It updates rules about late fees, interest, and adds a working capital contribution for new buyers. It does not replace the full HOA rulebook.

• Assessments & liens: Each lot owner must pay annual and special assessments, which are secured by a lien on the lot and are a personal obligation of the owner at the time of assessment. The lien continues until paid, but the personal obligation does not pass to successors unless assumed.
• Late fees & interest: Unpaid assessments incur a $25 per month late charge. If not paid within 30 days of delinquency, interest accrues at 10% per annum (or the maximum legal rate, whichever is less). The HOA can sue or foreclose after following notice procedures.
• Foreclosure notice: The HOA cannot foreclose on a lien until at least 30 days after mailing a notice of claim of lien to the owner and recording it with the county clerk. The notice must include a legal description, owner name, amount claimed, and HOA contact info.
• Working capital contribution: Each purchaser of a lot must pay a $500 working capital contribution to the HOA, due at transfer of title. This applies to resales and can be increased by the board up to 10% per year. Exemptions include foreclosures, transfers to/from the HOA, and transfers to co-owners, spouse, child, or parent.
• What this document doesn't cover: This amendment only changes assessment-related rules and adds the working capital contribution. It does not cover other HOA rules like architectural review, pets, parking, or leasing, which are in the original Declaration and First Amendment.

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.