Common use of Homeowners’ Association Documents Clause in Contracts

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. The term Association Documents consists of all owners’ associations 253 252 (Association) declarations, bylaws, operating agreements, rules and regulations, party wall agreements, minutes of most recent 254 253 annual owners’ meeting and minutes of any directors’ or managers’ meetings during the six-month period immediately preceding 255 254 the date of this Contract, if any (Governing Documents), most recent financial documents consisting of (1) annual balance sheet, 256 255 (2) annual income and expenditures statement, and (3) annual budget (Financial Documents), if any (collectively, Association 257 256 Documents). 258 257 7.3.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 259 258 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER 260 259 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER’S ASSOCIATION FOR THE 261 260 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 262 261 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 263 262 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY 264 263 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 265 264 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE 266 265 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE 267 266 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE 268 267 ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. 269 268 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 270 269 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY 271 270 READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF 272 271 THE ASSOCIATION. 273 272 7.3.2. Association Documents to Buyer.

Homeowners’ Association Documents. The term Association Documents consists of all owners’ associations 253 234 (Association) declarations, bylaws, operating agreements, rules and regulations, party wall agreements, minutes of most recent 254 annual 235 owners’ meeting and minutes of any directors’ or managers’ meetings during the six-month period immediately preceding 255 the date of 236 this Contract, if any (Governing Documents), most recent financial documents consisting of (1) annual balance sheet, 256 (2) annual 237 income and expenditures statement, and (3) annual budget (Financial Documents), if any (collectively, Association 257 Documents). 258 238 7.3.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 259 239 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER 260 240 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER’S ASSOCIATION FOR THE 261 241 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 262 242 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 263 243 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY 264 244 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 265 245 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE 266 246 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE 267 247 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE 268 248 ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. 269 249 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 270 250 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY 271 251 READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF 272 252 THE ASSOCIATION. 273 253 7.3.2. Association Documents to Buyer.

Homeowners’ Association Documents. The term Association Documents consists of all owners’ associations 253 259 (Association) declarations, bylaws, operating agreements, rules and regulations, party wall agreements, minutes of most recent 254 260 annual owners’ meeting and minutes of any directors’ or managers’ meetings during the six-month period immediately preceding 255 261 the date of this Contract, if any (Governing Documents), most recent financial documents consisting of (1) annual balance sheet, 256 262 (2) annual income and expenditures statement, and (3) annual budget (Financial Documents), if any (collectively, Association 257 263 Documents). 258 264 7.3.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 259 265 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER 260 266 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER’S ASSOCIATION FOR THE 261 267 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 262 268 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 263 269 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY 264 270 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 265 271 ASSOCIATION COULD PLACE A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE 266 272 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE 267 273 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE 268 274 ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. 269 275 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 270 276 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY 271 277 READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF 272 278 THE ASSOCIATION. 273 279 7.3.2. Association Documents to Buyer.

Homeowners’ Association Documents. The term Association Documents consists of all owners’ associations 253 234 (Association) declarations, bylaws, operating agreements, rules and regulations, party wall agreements, minutes of most recent 254 annual 235 owners’ meeting and minutes of any directors’ or managers’ meetings during the six-month period immediately preceding 255 the date of 236 this Contract, if any (Governing Documents), most recent financial documents consisting of (1) annual balance sheet, 256 (2) annual 237 income and expenditures statement, and (3) annual budget (Financial Documents), if any (collectively, Association 257 Documents). 258 238 7.3.1. Common Interest Community Disclosure. THE PROPERTY IS LOCATED WITHIN A COMMON 259 239 INTEREST COMMUNITY AND IS SUBJECT TO THE DECLARATION FOR SUCH COMMUNITY. THE OWNER 260 240 OF THE PROPERTY WILL BE REQUIRED TO BE A MEMBER OF THE OWNER’S ASSOCIATION FOR THE 261 241 COMMUNITY AND WILL BE SUBJECT TO THE BYLAWS AND RULES AND REGULATIONS OF THE 262 242 ASSOCIATION. THE DECLARATION, BYLAWS, AND RULES AND REGULATIONS WILL IMPOSE FINANCIAL 263 243 OBLIGATIONS UPON THE OWNER OF THE PROPERTY, INCLUDING AN OBLIGATION TO PAY 264 244 ASSESSMENTS OF THE ASSOCIATION. IF THE OWNER DOES NOT PAY THESE ASSESSMENTS, THE 265 ASSOCIATION COULD PLACE 000 XXXXXXXXXXX XXXXX XXXXX A LIEN ON THE PROPERTY AND POSSIBLY SELL IT TO PAY THE DEBT. THE 266 246 DECLARATION, BYLAWS, AND RULES AND REGULATIONS OF THE COMMUNITY MAY PROHIBIT THE 267 247 OWNER FROM MAKING CHANGES TO THE PROPERTY WITHOUT AN ARCHITECTURAL REVIEW BY THE 268 248 ASSOCIATION (OR A COMMITTEE OF THE ASSOCIATION) AND THE APPROVAL OF THE ASSOCIATION. 269 249 PURCHASERS OF PROPERTY WITHIN THE COMMON INTEREST COMMUNITY SHOULD INVESTIGATE THE 270 250 FINANCIAL OBLIGATIONS OF MEMBERS OF THE ASSOCIATION. PURCHASERS SHOULD CAREFULLY 271 251 READ THE DECLARATION FOR THE COMMUNITY AND THE BYLAWS AND RULES AND REGULATIONS OF 272 252 THE ASSOCIATION. 273 253 7.3.2. Association Documents to Buyer.