Kress Lofts

Key facts from Kress Lofts's documents

Community type

condominium (Caption: 'Kress Lofts, A Condominium')

Legal name

Kress Lofts Condominium Association

Developer / declarant

Kress Properties, LLC, a Texas limited liability company (Opening paragraph)

Governing law

Texas Uniform Condominium Act (TUCA) (Article 3.05: 'by TUCA')

Assessments & dues

Set by Board; not fixed in Declaration. (Article 4.02)

Special assessments

Allowed; capped at 5% of budgeted gross expenses without Owner majority approval; certain compliance-related exceptions. (Article 4.03)

Collections & liens

Association has power to file liens and exercise power of sale through trustee for unpaid assessments. (Article 4.08 (inferred from 'power of sa)

Reserves & fees

Required; funded through regular monthly assessments for periodic maintenance, repairs, and replacements. (Article 7)

Maintenance

Association maintains Common Elements; Owner maintains Unit interior and garage. (Articles 3.07, 5.02)

Insurance

Fire insurance with extended coverage on Units and Common Elements for full insurable replacement value; also casualty and liability insurance. (Article 3.07(b)(ii), Article 6)

Use restrictions

Residential Units for private residence only; commercial Units E-1 and E-2 for permitted commercial uses. (Article 5.01)

Amendments

Amendment requires approval of at least 67% of ownership interests at a meeting; recorded in county. Cannot alter Common Element interests without affected Owner and mortgagee consent. Declarant may amend certain provisions during control p (Article 8.01)

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