Homeowners’ Association Documents. The term Association Documents consists of all owners’ associations 253 (Association) declarations, bylaws, operating agreements, rules and regulations, party wall agreements, minutes of most recent 254 annual owners’ meeting and minutes of any directors’ or managers’ meetings during the six-month period immediately preceding 255 the date of this Contract, if any (Governing Documents), most recent financial documents consisting of (1) annual balance sheet, 256 (2) annual income and expenditures statement, and (3) annual budget (Financial Documents), if any (collectively, Association 257 Documents). 258 7.3.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 259 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER 260 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER’S ASSOCIATION FOR THE 261 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 262 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 263 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY 264 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 265 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE 266 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE 267 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE 268 ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. 269 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 270 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY 271 READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF 272 THE ASSOCIATION. 273 7.3.2. Association Documents to Buyer.
Homeowners’ Association Documents. Seller(s) to provide current copies of the Homeowner’s Association by-laws and amendments, regulations, most recent financial statement, and minutes of the last two meetings. If Xxxxx(s) does not approve these documents, Buyer(s) has the option to terminate this Purchase Agreement.
Homeowners’ Association Documents. Homeowners’ Association Documents (Association Documents) consist of 272 date of this Contract. If none of the preceding minutes exist, then the most recent minutes, if any (§§ 7.6.1, 7.6.2 and 7.6.3, 273 collectively, Governing Documents).
Homeowners’ Association Documents. Homeowners' Association Documents (Association Documents) consist of 248 the following:
Homeowners’ Association Documents. The HOA documents must be recorded after review and approval by the Town Attorney.
Homeowners’ Association Documents. The revised Residential Purchase Agreement contains new provisions regarding the payment of fees for preparing Homeowner’s Association documents. Here are some of the things you need to know: Paragraph 7D now states that the seller is to pay all the Homeowner’s Association (HOA) fees for preparing documents required to be delivered by Civil Code Section 4525. This is statutorily required of the seller; therefore the buyer cannot pay for these. The buyer may pay for other documents that are not required by the statute. The following documents are required to be provided by the seller to the buyer according to Civil Code Section 4525: » A copy of all Governing Documents, including Articles of Incorporation and Bylaws, or a statement in writing that the HOA is not incorporated. » Any restrictions stated in the Governing Documents such as the Covenants, Conditions and Restrictions (CC&R’s). » A copy of the HOA’s budget reports, financial statements, reserve studies and insurance documents most-recently distributed. » A statement in writing as to the amount of the HOA’s regular fees and special assessments, as well as information on any unpaid fees, late charges, fines, penalties, etc. levied upon the seller’s interest. » A copy or a summary of the notice of any violations of the Governing Documents that are unresolved against the owner of the property. » A copy of any notification of pending or settled litigation with regard to defects/issues between the association and the builder, and the initial list of defects. » Notification of any pending change in the current regular or special assessments. » A statement regarding any restrictions in the Governing Documents limiting occupancy based on age, or that prohibit the rental or leasing of the property. » If requested by the purchaser, a copy of the previous 12 months of HOA board meeting minutes. Any other requested documents may be paid for by the buyer or seller as determined by the RPA. Paragraph 10F now states that the party required to pay for the HOA documents must deposit funds into escrow or directly to the HOA to pay for same. The deposit must be made within 3 days (or a specified number of days as determined in the RPA). Escrow will contact the management company for the HOA to determine their fees, costs and acceptable method of payment. In order to help everyone abide by the time frames required, we will need the complete information on the HOA’s and their management company information when the esc...
Homeowners’ Association Documents. Borrower shall deliver to Lender copies of all proposed homeowners' association documents, including any declaration of covenants and restrictions, easements, dedications or other documents necessary to the creation of a planned unit development at the Project. The documents, are subject to the provisions of Section 2.2(b). The homeowners' documents once accepted and approved by Lender, may not be changed without Lender's prior written consent;
