Gatewood Homeowners

What Gatewood Homeowners's governing documents say

This document is a 2000 amendment to the Declaration of Covenants, Conditions and Restrictions for Gatewood Homeowners Association, Inc., a single-family home community in Garland, TX. It replaces the previous Article XI regarding insurance, governing the association's insurance requirements and procedures for damage and repair. This is only a partial document; it does not contain the full governing rules or other restrictions (e.g., pet limits, leasing, architectural standards).

• Association insurance requirements: The Association must maintain blanket all-risk property insurance, commercial general liability (at least $1M per occurrence), commercial crime/fidelity insurance, workers' compensation, and directors & officers liability coverage. Policies must meet certain standards and be written with authorized Texas insurers.
• Deductible and special assessments: A reasonable deductible on Association policies is treated as a common expense unless the Board determines the loss was due to an Owner's negligence or willful conduct, in which case the deductible may be specifically assessed against that Owner and become a lien on the Lot if unpaid within 30 days.
• Individual insurance: Owners may purchase their own insurance for personal property and structural portions of their townhouse not covered by the Association, as well as liability and theft insurance, all at their own expense.
• Damage and destruction procedures: In case of damage covered by Association insurance, the Board contracts to rebuild to substantially the same condition. If insurance proceeds insufficient, a special assessment is levied on all Owners; any excess proceeds are paid to the Association.
• Mutual waiver of claims: Owners and the Association waive claims against each other for loss or damage covered by valid fire and extended coverage insurance policies. The Association must endorse policies to reflect this mutual waiver.
• What this document doesn't cover: This is only an amendment about insurance. It does not include other typical HOA rules such as pet restrictions, leasing limits, parking, architectural review, or maintenance responsibilities. Refer to the full Declaration and other amendments for complete governing documents.

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.