Main Street Village Homeowners Association

What Main Street Village Homeowners Association's governing documents say

This is a partial document: the Second Amendment to the Amended and Restated Declaration for Main Street Village, a single-family homeowners association (HOA) in Lewisville, TX. It only updates the insurance provisions of the community's rules, so it does not contain the full set of HOA restrictions. This amendment is relevant to homeowners and prospective buyers who want to understand insurance obligations, but it is not a complete rulebook.

• What this document covers: This amendment replaces Article 10 of the HOA's declaration, which deals entirely with property and liability insurance. It does not address other typical HOA rules like architectural review, pets, or leasing.
• Association insurance: The HOA must carry property insurance on common areas and certain exterior parts of homes (like roofs and siding) covering 100% of replacement cost, plus general liability insurance. The cost of this insurance is a common expense paid by all owners.
• Owner insurance requirements: Each homeowner must get their own HO-3 policy covering their lot and the parts of the home the HOA doesn't insure (like windows, doors, HVAC, and foundations) at 100% replacement cost. The HOA does not insure personal property, so owners and tenants should get their own contents coverage.
• Deductibles and damage costs: If the HOA's insurance has a deductible, it's normally split among all owners as a common expense. But if damage is caused by an owner's negligence or misconduct, that owner pays the deductible or repair cost, and the HOA can charge it back like an assessment.
• What this document doesn't cover: This is only an amendment to the insurance article. It does not include the full declaration, so other rules about property use, maintenance responsibilities, assessments, or restrictions are not shown 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.