Lexington Estates Townhome Association, Inc.

What Lexington Estates Townhome Association, Inc.'s governing documents say

Lexington Estates is a townhome community in Frisco, TX — you own your townhome and share ownership of common elements with other owners. The association (Lexington Estates Townhome Association, Inc.) enforces rules, collects assessments, and maintains common areas. This document set (Management Certificate and Townhome Community Manual) is the full rulebook for the association, including bylaws, fine policies, and assessment collection rules.

• What you own & maintain: You own your individual townhome lot; the association maintains common elements and carries master insurance. Specific maintenance details are not fully listed in this excerpt.
• Assessments & fees: Each owner must pay regular and special assessments as determined by the board. Late fees of $25 per month and interest may apply. Transfer fees: resale certificate $340, statement of account $50, refinance certificate $50, transfer fee $250, working capital assessment $500.
• Fines & enforcement: The board can levy fines for rule violations, with a schedule: 1st notice $50, 2nd $75, 3rd $100, 4th $125. Repeat or uncurable violations may be fined TBD per board discretion. Owners receive a violation notice and opportunity for a hearing before fines are imposed. Fines are treated as assessments and can become a lien, but foreclosure cannot be based solely on fines.
• Board of directors & meetings: The association is governed by a board of at least 3 directors. Owners elect directors after the declarant period. Board meetings require notice to owners (mail or posting). Owners may attend and listen to meetings, and can vote on certain actions.
• Records inspection: Owners have a right to inspect and copy association records under Texas law. A detailed policy is referenced but not fully included in this excerpt.
• What this document doesn't cover: This excerpt does not include specific rules on pets, leasing minimums, age restrictions, architectural review, parking, or rental caps. Those may be found in other governing documents not provided 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.