Lakeview Residential Homeowners Association, Inc.

Key facts from Lakeview Residential Homeowners Association, Inc.'s documents

Reflects the 1977 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article One - Recitals)

Developer / declarant

Sherwood Development Corporation (Article One - Recitals)

Governing law

Article 1301a, Texas Revised Civil Statutes (Texas Condominium Act) (Article Three, Paragraph A; Article Six,)

Assessments & dues

Council prepares an estimated annual budget; each Owner pays one-twelfth of his proportionate share of common expenses for the fiscal year as estimated and shown by such annual budget. (By-Laws, Article Five, Sections 1 and 2()

Special assessments

Council may prepare supplemental estimated budget to cover estimated deficiency for the remainder of the fiscal year; each Owner pays his pro-rata part in the ratio of his ownership interest. (By-Laws, Article Five, Section 4)

Collections & liens

There is a present and continuing lien on each apartment to secure payment of assessments. Lien is prior to homestead rights and all other liens except recorded first mortgages/deeds of trust made in good faith and for value, and tax liens. (Article Six, Paragraph J)

Reserves & fees

Assessments shall include monthly payments to an adequate general operating reserve and reserve for insurance premiums and for replacement of common facilities. (Article Six, Paragraph I)

Pets

Pets are implicitly allowed, but any pet causing or creating a nuisance will be permanently removed from the project upon notification by the Council or Owners. (Article Six, Paragraph S)

Leasing & rentals

Apartments shall not be rented for transient or hotel purposes, defined as (a) rental for any period of less than ninety days, or (b) any rental if the occupant is provided customary hotel service such as room service, maid service, laundry (Article Six, Paragraph X)

Parking & vehicles

Included in the common areas are spaces for the parking of automobiles of owners' guests. These areas shall be under the exclusive jurisdiction of the Council of Owners and said Council shall have complete discretion in the assignment of th (Article Six, Paragraph DD)

Architectural approval

An Owner shall not make or allow to be made structural modifications or alterations within his apartment or installations located therein, without previously notifying in writing and obtaining approval of the Association through the Chairma (Article Six, Paragraph O)

Signs & flags

No Owner shall post or allow to be posted any advertisements or posters of any kind in or on the project except as authorized by the Association. Developer may affix an appropriate sign on the door or hallway outside a model apartment or on (Article Six, Paragraphs B and R)

Maintenance

Roofs are included in common areas and facilities; therefore, maintenance, repair, and replacement of roofs is the responsibility of the Association. (Article Two, Paragraph E (definition of )

Insurance

Association shall obtain and continue in effect blanket property (including, without limitation, fire and other hazards) and liability insurance to protect the project and the owners thereof against risks of whatever character. (Article Six, Paragraph G)

Use restrictions

All apartments shall be utilized for one-family residential purposes. (Article Six, Paragraph B)

Voting & meetings

Voting on a percentage basis; percentage assigned to each apartment unit as set forth in the Declaration. One Voting Owner per apartment unit ownership. (By-Laws, Article Two, Section 1)

Amendments

The Declaration may be amended by the affirmative vote or agreement of Owners representing at least seventy-five percent (75%) of the total fractional or percentage interest of all units in the project, and all mortgagees of all mortgages c (Article Six, Paragraph H; By-Laws, Artic)

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