Homestead Residential Master Community, Inc.

Key facts from Homestead Residential Master Community, Inc.'s documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (Homestead Residential Master Community, Inc.) (Section 3.1: 'The Association shall be a)

Developer / declarant

ILF N-T OWNER, LP, a Delaware limited partnership (Preamble)

Assessments & dues

Amount determined annually by Board based on the budget for the upcoming year. (Section 5.9)

Special assessments

Special Assessments may be levied by the Board with approval of Owners of at least 67% of votes, subject to Declarant's rights during Development Period. (Section 5.4)

Collections & liens

Assessments are a lien on the Lot or Condominium Unit and may be enforced by foreclosure. (Section 5.12)

Reserves & fees

Late charges as set by the Board from time to time. (Section 5.10)

Architectural approval

Approval of the Homestead Reviewer (Declarant or its designee during Development Period) is required for construction, alteration, or improvement within the Development. (Sections 6.1, 6.3)

Signs & flags

Easement for signage exists (Section 8.5), but specific restrictions on sign type or placement are not in this Covenant (may be in Rules). (Section 8.5)

Maintenance

Association may pay for water, sewer, garbage removal, street lights, landscaping, and other utilities, services, repair, and maintenance (including roads, parks, etc.). Specific lot maintenance responsibilities not detailed. (Section 3.8.9)

Insurance

Association to obtain and maintain insurance policies that are reasonably necessary or appropriate (Article 4). (Section 3.8.2 and Article 4)

Voting & meetings

Each Lot or Condominium Unit gets one vote. Declarant gets four additional votes per each vote outstanding until expiration or termination of the Development Period. Co-owners vote by majority; if no majority vote is suspended. (Section 3.5)

Amendments

Amendment requires approval of Owners holding at least 67% of votes. However, Declarant may amend without Owner approval during the Development Period until expiration or termination. (Section 10.3)

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