Preston Circle Office Park Owners Association Inc.

What Preston Circle Office Park Owners Association Inc.'s governing documents say

Preston Circle Office Park is a condominium community in Frisco, TX, designed for commercial office use — owners hold fee simple title to individual units and share common elements. The declaration governs assessments, maintenance, use restrictions, and leasing, binding all owners, tenants, and occupants.

• Leasing & rentals: Leasing is permitted but (a) no unit may be rented for transient or residential purposes or for less than 7 days; (b) no subdivision of a unit for rent; (c) all leases must be in writing and subject to the governing documents; (d) owners must provide tenants with copies of the documents; (e) tenants must comply with all documents and laws.
• Use restrictions: Units are for office use only; residential occupancy is prohibited. The Association may adopt rules and regulations. Specific use restrictions are detailed in Article 12 (partially truncated in provided text, but include sign restrictions, occupancy, animal restrictions, appearance, vehicles, landscaping, drainage, structural integrity, and specific uses).
• Architectural review: No exterior alteration, addition, or improvement may be made without prior written board approval. Prohibited acts include installation of antennas, satellite dishes, storm windows, exterior lighting, sheds, fences, and visible window treatments. Applications with plans must be submitted; if no response within 91 days, approval is deemed. Interior remodeling not affecting structural soundness does not require approval.
• Assessments: Regular assessments are based on a proportional share of the annual budget (by interior floor area). Special assessments require majority vote for certain purposes. Individual assessments may be levied for delinquencies, violations, insurance deductibles, etc. Assessments are secured by a lien on the unit, superior to most other liens except taxes and purchase-money mortgages.
• Maintenance obligations: The Association maintains all general common elements (driveways, sidewalks, landscaping, parking, mailboxes), all limited common elements (fences, gates, front porches), exterior light fixtures served by the Association’s meter, and any Areas of Common Responsibility designated by the board. Owners must maintain their units, keep limited common elements neat, and are responsible for damage caused by their acts or those of occupants/guests.
• Right of first refusal: The Association has a limited right of first refusal to purchase or lease a unit (or provide a substitute buyer/lessee) at the same price and terms accepted by the seller/lessor, exercisable within 10 days of notice. Mortgagees acquiring title through foreclosure are exempt, as is Declarant during the development period.
• What this document doesn't cover: The provided text is truncated and does not include complete sections on animal restrictions, parking rules, or full details of use restrictions. Also absent are the schedules of allocated interests, plats, and other appendices referenced in the declaration.

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.