Village Shops Commercial Condominium Community Section I, Inc.

What Village Shops Commercial Condominium Community Section I, Inc.'s governing documents say

This is a policy manual for Village Shops Commercial Condominiums, a commercial condominium community in Lewisville, TX. It governs the association's collection of assessments and the inspection/copying of records, and it binds unit owners. This is a partial document—it does not contain the full condominium rules.

• Assessment due dates & late fees: Regular assessments are due on the first day of each year; if not paid by the 10th of the month, a $25 late fee and 10% annual interest may be charged. Special assessments are due as stated in the notice or within 10 days.
• Collection costs & lien: Owners who are delinquent are liable for all collection costs, including attorney's fees, title reports, and court costs, which are secured by a lien on the unit.
• Collection enforcement: The association may suspend voting rights and use of common elements for owners delinquent over 30 days, terminate utility service for unpaid utility-related assessments, and foreclose on the assessment lien (nonjudicially or judicially).
• Payment application & restrictions: Payments are applied in a specific order (oldest charges first), and the association may refuse partial or conditioned payments. Delinquent payments may be required in cash or certified funds.
• Records inspection & copying: Owners may request records in writing, pay estimated costs in advance, and the association must respond within 10 business days. Copy charges follow Texas Administrative Code (e.g., $0.10 per page).
• Records retention: The association must keep governing documents permanently, contracts for 4 years after expiration, owner account records for 5 years, and meeting minutes and financial records for 7 years.
• What this document doesn't cover: This is only a policy manual for assessments and records; it does not include the full declaration, bylaws, or rules about property use, leasing, pets, or other community standards.

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.