Fairway 4th Filing

Key facts from Fairway 4th Filing's documents

Community type

Homeowners Association

Legal name

Fairway Commons Homeowners Association

Developer / declarant

Ideal Acres Limited Partnership, a Wyoming Limited Partnership (Page 7 (WHEREAS clause))

Governing law

Wyoming law (nonprofit corporation under Wyoming Nonprofit Corporation Act) (Page 7: 'pursuant to the laws of the Sta)

Assessments & dues

Maximum initial $360.00 per year per Lot (excluding Declarant-owned Lots) (Article V §3)

Special assessments

Allowed; if total exceeds $5,000 requires 2/3 vote of each class. Board may also levy emergency special assessment by 2/3 Board vote without membership approval. (Article V §6)

Collections & liens

Assessments are a continuing lien on each Lot; Association may foreclose like a deed of trust under Wyoming law. Personal obligation also exists. (Article V §1, §8)

Reserves & fees

Association may establish and maintain cash reserve and sinking fund for replacement of Common Area elements. Reserve fund for periodic replacement to be charged against owners as part of regular assessment. (Article V §2)

Pets

Yes, dogs, cats, or other household pets may be kept, but not for commercial purposes. Subject to Rules and ordinances. (Article VII §6)

Leasing & rentals

Yes, Owner may lease entire House upon such terms as deemed advisable, subject to written lease stating it is subject to Declaration and Rules. Only entire house may be leased, not portions, and only for single family residential use. (Article IV §3)

Parking & vehicles

Prohibited on residential streets or Private Streets except for transport to/from building. Unused vehicles not allowed on residential streets. (Article VII §9)

Home business

Prohibited (no commercial activity permitted in Houses or Lots except by Declarant). (Article VII §11)

Signs & flags

Only signs advertising sale or rental of Houses permitted, and placed only on inside of windows. Association may erect identification signs. Architectural Control Committee may adopt reasonable rules for sign form and location. (Article VII §7)

Use restrictions

Each Lot shall be used only for one single family residence. No commercial activity except by Declarant for constructing and selling houses/lots. (Article VII §1, §11)

Voting & meetings

Two classes: Class A (each Owner, one vote per Lot); Class B (Declarant, three votes per Lot until conversion). Class B converts to Class A when Class A votes equal Class B or by 31 December 1982, whichever earlier. (Article III §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.