Saddlebrook at Teel Homeowners Association

What Saddlebrook at Teel Homeowners Association's governing documents say

This is the Assessment Collection Policy for the Saddlebrook at Teel Homeowners Association, a homeowners association (HOA) community in Frisco, TX. It explains how the HOA collects dues and other charges from property owners, including late fees, payment plans, and collection procedures. It does not cover general community rules like architecture, pets, or amenities.

• Assessments (dues): Regular assessments are billed semi-annually and due on the first day of the month in which they are charged; special assessments may be payable in installments.
• Late fees & interest: If full payment isn't received by the late date, the HOA may charge late fees and interest at the highest rate allowed by Texas law. A $30 fee applies to any returned check (insufficient funds).
• Payment plans: Delinquent owners can request a payment plan with a term of 3 to 18 months, but the HOA decides the exact term and may charge administrative costs and interest.
• Collection costs & fees: The owner is responsible for all costs the HOA incurs to collect a delinquency, including title reports, certified mail, court costs, and attorney's fees.
• Collection procedures: The HOA may send notices, report delinquent accounts to credit bureaus, record a lien, suspend access to common-area amenities after 30 days of delinquency, and can accelerate all remaining installment payments after at least 15 days' notice of default.
• What this document doesn't cover: This is only the collection policy—it doesn't include general community rules (e.g., architectural review, pet limits, or amenity rules), which are in the Declaration of Covenants, Conditions, and Restrictions (CC&Rs).

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.