Preserve

Key facts from Preserve's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Master Planned Community (Background Statement: "Fields is a maste)

Governing law

Texas law (Section 7.8: "This Covenant shall be gov)

Assessments & dues

Determined annually by budget; Maximum Annual Assessment is initial amount increased by CPI (Section 5.1(c): "Maximum Annual Assessme)

Special assessments

May be levied with affirmative vote or written consent of Owners representing at least 50% of total Equivalent Units (Section 5.3)

Collections & liens

Joint Committee has a lien against each Unit for delinquent assessments, enforceable by suit and nonjudicial foreclosure (power of sale under Texas Property Code Sec. 51.002) (Section 5.7)

Reserves & fees

Joint Committee may budget for reserves for capital and operating replacements; no duty to fund reserves while Founder is funding shortfalls (Section 5.2)

Maintenance

Joint Committee maintains Area of Joint Committee Responsibility which includes main entry features, monuments, median landscaping, sidewalks, thoroughfares, environmental stormwater areas, lakes, streams, etc. (Section 3.1)

Use restrictions

Not restricted to residential; Residential and Non-Residential Units both defined (Section 1.1 definitions of "Residential )

Voting & meetings

Based on Equivalent Units assigned to Associations and Units (Section 5.1(b): allocation of Annual Ass)

Amendments

Founder may unilaterally amend for compliance, title insurance, lender requirements, or government requirements; otherwise amendment by Owners as provided in Section 7.1(b) (Section 7.1)

Amenities

Hike and bike trails, Regional Veloweb, open spaces, community parks, stormwater detention facilities, lakes, streams, water wells, pump stations, irrigation lines (Sections 3.1, 3.8, 3.10)

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