Prosper Falls Homeowners' Association, Inc.

Key facts from Prosper Falls Homeowners' Association, Inc.'s documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Single-family home planned community (Preamble: 'development for a single-fami)

Developer / declarant

PROSPER FALLS DEVELOPMENT GROUP, L.C., a Texas limited liability company (Article I, definition (j): 'Declarant sh)

Governing law

Texas Property Code (Article I, definition (m): 'The Governin)

Assessments & dues

$550 per Lot for year 2017 (Article X, Section 10.3.1: 'For the year)

Special assessments

Allowed for capital improvements or Association obligations; requires 51% vote of voting members (Article X, Section 10.1(c): 'special ass)

Collections & liens

Association has lien on each Lot for unpaid Assessments and other charges; may foreclose nonjudicially under Texas Property Code Section 51.002 (Article X, Section 10.10: 'lien... for t)

Reserves & fees

Not mandatory; Board may establish reserves for periodic maintenance and capital needs (Article X, Section 10.15: 'The Associati)

Pets

Yes, domesticated pets (dogs, cats, other household pets) for companionship (Article II, Section 2.7(d): 'Domesticate)

Leasing & rentals

Yes, with written lease and compliance with governing documents (Article II, Section 2.2.1: 'Owners who r)

Parking & vehicles

Generally prohibited for certain vehicles; Board may establish rules (Article II, Section 2.6(b): 'parking for)

Fences

Fences must be located 10 feet behind front line; structural members and posts on side of Owner; fences facing public street maintained by Owner except as provided (Article II, Section 2.8: 'located ten (1)

Architectural approval

Yes, prior written approval required for all exterior modifications, construction, and improvements (Article III, Section 3.1 and Section 2.1)

Solar & roof

Must conform to Design Guidelines; color of roofing consistent throughout Subdivision (Article II, Section 2.9: 'Allowed roofin)

Home business

Small home office (quiet, inoffensive) allowed; no commercial manufacturing except builder's sales office (Article II, Section 2.7(h): 'Nothing in )

Signs & flags

Limited: one real estate sign, one home occupation sign, school spirit signs, political signs (placed 6 weeks before election, removed within 2 days after), builder signs (Article II, Section 2.7(k): 'No sign of )

Setbacks / home size

Subject to building lines and Town of Prosper Zoning Ordinance; minimum lot depth 135 ft (Article II, Section 2.7: 'The setback re)

Maintenance

Owner maintains Lot and improvements; Association maintains Common Properties (Article V, Section 5.2: 'Each Owner shal)

Insurance

Association may maintain general liability and directors & officers liability insurance if reasonably available (Article XI, Section 11.5: 'Association s)

Use restrictions

Yes, single-family residential use (Article II, Section 2.1: 'The Property s)

Voting & meetings

Each Lot (Class A Member) entitled to one vote; Declarant has Class B membership until 99% of lots sold (Article VIII, Section 8.2: 'Class A Memb)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.