Fortyone40 Newton Townhomes

Key facts from Fortyone40 Newton Townhomes's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title page)

Governing law

Texas Uniform Condominium Act (references to 'Act' throughout) (Section 1.1 (Definitions - 'Act' referen)

Assessments & dues

Monthly Assessments established by Board of Directors in an annual Budget; each Owner's share determined by Allocated Interests (Section 8.3(a) and (b))

Special assessments

Association may establish Special Assessments for non-recurring Common Expenses relating to maintenance, care, alteration, improvement, etc. (Section 8.3(c))

Collections & liens

Association has a lien against each Unit, Rents, and Insurance Proceeds to secure payment of all Assessments; lien is prior and superior to all other liens except pre-recorded Lien Indebtedness and Governmental Impositions; enforceable by n (Sections 10.1, 10.2, 10.3)

Reserves & fees

Association shall establish and maintain an adequate Reserve Fund funded by Monthly Assessments; during Declarant Control, funded by portion of Working Capital Contributions; after Declarant Control, by allocations of Monthly Assessments an (Sections 7.2 and 8.5)

Leasing & rentals

Not explicitly stated as prohibited; references to Tenants and leases throughout indicate leasing is permitted (Sections 4.1(b), 4.3, 6.8, 9.6)

Parking & vehicles

Garage Spaces shall be used exclusively for parking purposes and uses incidental to parking (Section 4.1(e))

Architectural approval

Owner shall not make any addition, alteration or improvement visible from any other Unit or exterior of Building, or change floor plan/layout, or make modification interfering with structural portion or Systems serving another Unit, without (Section 7.9(b))

Home business

Personal/professional use incidental to residential use permitted if: (1) incidental to occupant's residential use; (2) conforms to Legal Requirements; (3) no external visible evidence; (4) no visits by public, employees, suppliers or clien (Section 4.1(b))

Maintenance

Association maintains Roof Top; Owner of Unit with Roof Decking System must remove it at Owner's cost upon Association's request for maintenance (Section 7.2)

Insurance

Deductible portion treated as Common Expense unless Board reasonably determines loss resulted from negligence or willful misconduct of an Owner/Resident/invitee, in which case Individual Assessment may be levied (Section 12.1(f))

Use restrictions

No Unit shall be used or occupied for other than residential purposes, except Units owned by Declarant (Section 4.1(a))

Voting & meetings

Each Owner shall be entitled to vote in the Association pursuant to this Declaration (Section 6.9)

Amendments

Declaration may be amended with consent of Owners holding required percentage of Allocated Interests as set forth in Article XVII; Declarant has certain amendment rights during Declarant Control (Article XVII (Sections 17.1, 17.2, 17.3))

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