Meadowwood Park Ranch Estates

What Meadowwood Park Ranch Estates's governing documents say

This is a Collection Policy for Meadowwood Park Ranch Estates, Inc., a homeowners association (HOA) in Post Oak Bend, TX. It is an ancillary document that details the HOA's procedures for collecting assessments, late fees, and other charges from homeowners, but it does not contain the full set of community rules (e.g., the CC&Rs). This policy binds all property owners within the association.

• Assessment due dates & late fees: Annual assessments are due on the first day of the year. If not paid within 30 days, a late fee of $25 per month and/or interest at 18% per annum (or the highest rate allowed by Texas law) is charged.
• Collection costs & attorney fees: A defaulting owner is liable for all reasonable collection costs, including credit reports, court costs, filing fees, attorney's fees, and other expenses incurred by the association.
• NSF checks: A $30 fee is assessed for any returned check due to insufficient funds or any other reason.
• Payment application order: When an owner is delinquent, the association applies payments in a fixed order: delinquent special assessments first, then delinquent monthly assessments, delinquent individual assessments, current special assessments, current monthly assessments, current individual assessments, attorney's fees, collection costs, fines, and other amounts owed. Partial payments with conditions or restrictions will not be accepted.
• Alternative payment schedule: An owner may request an alternative payment schedule for delinquent amounts. The standard term is 3 months, but the maximum is 12 months with equal monthly payments. The owner will be notified of the monthly amount and due dates. If the owner defaults on the schedule, the full remaining balance is immediately due.
• Acceleration of installments: If an assessment (other than the annual assessment) is payable in installments and the owner defaults, the association may accelerate the entire balance after at least 15 days' notice.
• Lien & credit reporting: The association may record a notice of assessment lien against the property. If the owner pays in full, the association will update any credit reporting agency to which the delinquency was reported.
• What this document doesn't cover: This Collection Policy does not include general HOA rules about architectural review, pets, parking, landscaping, leasing restrictions, or any other use restrictions. Those would be found in the community's full Declaration of Covenants, Conditions, and Restrictions (CC&Rs) and other 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.