Wade Settlement Homeowners Association, Inc.

What Wade Settlement Homeowners Association, Inc.'s governing documents say

Wade Settlement is a townhome community in Frisco, TX, governed by a homeowners association. The documents provided are the association's Bylaws and a fine schedule resolution, which explain how the HOA is run and what penalties exist for rule violations. The actual property use rules (e.g., architectural guidelines, parking, pets) are in the separate Declaration of Covenants, Conditions, and Restrictions (CC&Rs).

• Fine schedule & enforcement: Fines for curable violations: initial $50, second $100, third $200, fourth and subsequent $400, with a maximum of $1,000 per occurrence. Fines may be imposed daily without aggregate limit. Uncurable violations (e.g., unauthorized leasing, safety threats) and unapproved architectural modifications carry the maximum fine per occurrence.
• Leasing restrictions: Leasing a unit without prior written permission or for a term less than one year is an uncurable violation subject to the maximum fine ($1,000 per occurrence).
• Board of Directors structure: Declarant appoints all directors initially, then two directors after the transition date, with one elected by members. After the last lot is sold, members elect all directors. Directors serve staggered terms up to three years.
• Assessments: Each owner must pay assessments as set in the Declaration. Unpaid assessments become a lien on the property and may be foreclosed or collected via legal action.
• Meetings & voting: Annual meetings required; quorum is 10% of membership (5% at adjourned meeting). Proxies are allowed, and action may be taken by written consent of a majority of members.
• Records access: Owners may request records in writing; the association must respond within 10 business days. Costs: $0.10 per standard page, $15/hour labor for locating/compiling, plus other fees. Some records (e.g., individual owner financials, violation details) are excluded unless the owner consents.
• What this document doesn't cover: This document does not include the full property use rules such as architectural standards, parking regulations, pet limits, or landscaping requirements. Those rules are contained in the Declaration of Covenants, Conditions, and Restrictions (CC&Rs), which is not provided.

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.