Common use of HOMEOWNERS ASSOCIATION Clause in Contracts

HOMEOWNERS ASSOCIATION. Developer will create detailed Deed Restrictions and a homeowner’s association (“HOA”) that will enforce the restrictions set forth herein. In the event Owner's Association becomes insolvent or fails to maintain proper documentation and filings with the State of Texas as required and loses its authority to operate and transact business as a property owner's association in the State of Texas then the City shall have the right to but is not obligated to enforce deed restrictions and other matters as set forth in this agreement and shall have all authority granted to the Association by virtue of this document and related Property Owner's Association Bylaws including but not limited to the authority to impose and collect maintenance fees and other necessary fees and assessments to further the upkeep of subdivision improvements as stipulated herein and as deemed necessary by the City. (a) Maintenance of such open spaces shall be the responsibility of the subdivider or the homeowners' association. (b) b. The articles of the HOA shall require homeowner assessment sufficient to meet the necessary annual cost of the improvements that are calculated by the city engineer and shall provide those assessments are not subject to subrogation to mortgage lenders. Further, the articles shall provide that the board of directors shall be required to expend money for the improvements and repairs to maintain all infrastructures under its jurisdiction. Further, the articles shall require that board of directors file with the city annual reports of maintenance and that the board of directors shall be required to initiate any and all repairs in a timely manner as shall be identified by either the board or the city, and that the treasurer of the property owners association shall be required to post a surety bond.

HOMEOWNERS ASSOCIATION. Developer will create detailed Deed Restrictions and a property owner’s association/homeowner’s association (“HOA”) that will enforce the restrictions set forth hereinRestrictions and provisions of this Agreement. In the event Owner's Association the HOA becomes insolvent or fails to maintain proper documentation and filings with the State of Texas as required and loses its authority to operate and transact business as a property owner's association in the State of Texas then the City shall have the right to right, but is not obligated obligated, to enforce deed restrictions and other matters as set forth in this agreement and shall have all authority granted to the Association HOA by virtue of this document document, the deed restrictions, and related Property Owner's Association Bylaws including including, but not limited to to, the authority to impose and collect maintenance fees and other necessary fees and assessments to further the upkeep of subdivision improvements as stipulated herein and as deemed necessary by the City. (a) a. Maintenance of such open spaces shall be the responsibility of the subdivider or the homeowners' association, unless accepted by the city council. (b) b. The articles of the HOA homeowner’s association shall require homeowner assessment sufficient to meet the necessary annual cost of the improvements that are calculated by the city engineer and shall provide those assessments are not subject to subrogation to mortgage lendersimprovements. Further, the articles shall provide that the board of directors shall be required to expend money for the improvements and repairs to maintain all infrastructures under its jurisdiction. Further, the articles shall require that board of directors file with the city annual reports of maintenance and that the board of directors shall be required to initiate any and all repairs in a timely manner as shall be identified by either the board or the city, and that the treasurer of the property owners association shall be required to post a surety bond.

HOMEOWNERS ASSOCIATION. Developer will create detailed Deed Restrictions and a homeowner’s association (“HOA”) that will enforce the restrictions Deed Restrictions set forth herein. In the event Owner's Association the HOA becomes insolvent or fails to maintain proper documentation and filings with the State of Texas as required and loses its authority to operate and transact business as a property owner's ’s association in the State of Texas Texas, then the City shall have the right to to, but is not obligated to to, enforce deed restrictions the Deed Restrictions and other matters as set forth in this agreement Agreement and shall have all authority granted to the Association HOA by virtue of this document and related Property Owner's ’s Association Bylaws including Bylaws, including, but not limited to to, the authority to impose and collect maintenance fees and other necessary fees and assessments to further the upkeep of subdivision improvements as stipulated herein and as deemed necessary by the City. (a) Maintenance of such open spaces shall be the responsibility of the subdivider or the homeowners' associationHOA, unless accepted by the City Council. (b) b. The articles of the HOA shall require homeowner assessment assessments sufficient to meet the necessary annual cost of the improvements that are calculated by the city engineer and shall provide those assessments are not subject to subrogation to mortgage lendersimprovements. Further, the articles shall provide that the board of directors HOA shall be required to expend money for the improvements and repairs to maintain all infrastructures under its jurisdiction. Further, the articles shall require that board of directors HOA file with the city City annual reports of maintenance and that the board of directors shall be required to initiate any and all needed repairs in a timely manner as shall manner. (c) Covenants, conditions and restrictions for the HOA must be identified filed in each Section and the HOA Maintenance Agreement must be approved and executed before any Assessments are levied by either the board or City on the city, and that the treasurer of the property owners association shall be required to post a surety bondProperty.

HOMEOWNERS ASSOCIATION. Developer will create detailed Deed Restrictions and a homeowner’s association (“HOA”) that will enforce the restrictions Deed Restrictions set forth herein. In the event Owner's Association the HOA becomes insolvent or fails to maintain proper documentation and filings with the State of Texas as required and loses its authority to operate and transact business as a property owner's association in the State of Texas Texas, then the City shall have the right to to, but is not obligated to to, enforce deed restrictions the Deed Restrictions and other matters as set forth in this agreement Agreement and shall have all authority granted to the Association HOA by virtue of this document and related Property Owner's Association Bylaws including Bylaws, including, but not limited to to, the authority to impose and collect maintenance fees and other necessary fees and assessments to further the upkeep of subdivision improvements as stipulated herein and as deemed necessary by the City. (a) Maintenance of such open spaces shall be the responsibility of the subdivider or the homeowners' associationHOA, unless accepted by the City Council. (b) b. The articles of the HOA shall require homeowner assessment assessments sufficient to meet the necessary annual cost of the improvements that are calculated by the city engineer and shall provide those assessments are not subject to subrogation to mortgage lendersimprovements. Further, the articles shall provide that the board of directors shall be required to expend money for the improvements and repairs to maintain all infrastructures under its jurisdiction. Further, the articles shall require that board of directors file with the city City annual reports of maintenance and that the board of directors shall be required to initiate any and all needed repairs in a timely manner as shall be identified by either the board or the city, and that the treasurer of the property owners association shall be required to post a surety bondmanner.

HOMEOWNERS ASSOCIATION. Developer will create detailed Deed Restrictions and a homeowner’s association (“HOA”) that will enforce the restrictions set forth herein. In the event Owner's Association becomes insolvent or fails to maintain proper documentation and filings with the State of Texas as required and loses its authority to operate and transact business as a property owner's association in the State of Texas then the City shall have the right to but is not obligated to enforce deed restrictions and other matters as set forth in this agreement and shall have all authority granted to the Association by virtue of this document and related Property Owner's Association Bylaws including but not limited to the authority to impose and collect maintenance fees and other necessary fees and assessments to further the upkeep of subdivision improvements as stipulated herein and as deemed necessary by the City. (a) Maintenance of such open spaces shall be the responsibility of the subdivider or the homeowners' association, unless accepted by the city council. (b) b. The articles of the HOA homeowner’s association shall require homeowner assessment sufficient to meet the necessary annual cost of the improvements that are calculated by the city engineer and shall provide those assessments are not subject to subrogation to mortgage lendersimprovements. Further, the articles shall provide that the board of directors shall be required to expend money for the improvements and repairs to maintain all infrastructures under its jurisdiction. Further, the articles shall require that the board of directors file with the city annual reports of maintenance and that the board of directors shall be required to initiate any and all repairs in a timely manner as shall be identified by either the board or the city, and that the treasurer of the property owners association shall be required to post a surety bond.

HOMEOWNERS ASSOCIATION. Developer will create detailed Deed Restrictions and a homeowner’s association (“HOA”) that will enforce the restrictions set forth herein. In the event Owner's Association becomes insolvent or fails to maintain proper documentation and filings with the State of Texas as required and loses its authority to operate and transact business as a property owner's association in the State of Texas then the City shall have the right to but is not obligated to enforce deed restrictions and other matters as set forth in this agreement and shall have all authority granted to the Association by virtue of this document and related Property Owner's Association Bylaws including but not limited to the authority to impose and collect maintenance fees and other necessary fees and assessments to further the upkeep of subdivision improvements as stipulated herein and as deemed necessary by the City. (a) a. Maintenance of such open spaces shall be the responsibility of the subdivider or the homeowners' association, unless accepted by the city council. (b) b. The articles of the HOA homeowner’s association shall require homeowner assessment sufficient to meet the necessary annual cost of the improvements that are calculated by the city engineer and shall provide those assessments are not subject to subrogation to mortgage lendersimprovements. Further, the articles shall provide that the board of directors shall be required to expend money for the improvements and repairs to maintain all infrastructures under its jurisdiction. Further, the articles shall require that board of directors file with the city annual reports of maintenance and that the board of directors shall be required to initiate any and all repairs in a timely manner as shall be identified by either the board or the city. Notwithstanding the foregoing provisions of this section: (i) in the event of a conflict with Agreement and the Development Ordinance, the Development Ordinance shall prevail. The City shall notify the Developer in writing of any alleged failure by the Developer to comply with a provision of this Agreement, which notice shall specify the alleged failure with reasonable particularity. The Developer shall, within thirty (30) days after receipt of such notice or such longer period of time as the City may specify in such notice, either cure such alleged failure or, in a written response to the City, either present facts and arguments in refutation or excuse of such alleged failure or state that such alleged failure will be cured and set forth the treasurer of the property owners association shall be required to post a surety bondmethod and time schedule for accomplishing such cure.

HOMEOWNERS ASSOCIATION. The Developer will create detailed Deed Restrictions and a homeowner’s association (“HOA”) HOA that will enforce the restrictions set forth hereinDeed Restrictions and be made legally responsible to maintain all common areas, private streets, recreation reserves and common amenities not otherwise dedicated to the public or the District. All land and facilities dedicated to the District shall be maintained by the District. In the event Owner's Association the HOA becomes insolvent or fails to maintain proper documentation and filings with the State of Texas as required and loses its authority to operate and transact business as a property owner's ’s association in the State of Texas Texas, then the City shall have the right to to, but is not obligated to to, enforce deed restrictions the Deed Restrictions and other matters as set forth in this agreement Agreement and shall have all authority granted to the Association HOA by virtue of this document and related Property Owner's ’s Association Bylaws including Bylaws, including, but not limited to to, the authority to impose and collect maintenance fees and other necessary fees and assessments to further the upkeep of subdivision improvements as stipulated herein and as deemed necessary by the City. (a) Maintenance of such open spaces shall be the responsibility of the subdivider District, subdivider, or the homeowners' associationHOA. (b) b. The articles of the HOA shall require homeowner assessment assessments sufficient to meet the necessary annual cost of the improvements that are calculated by (but may account for developer subsidy in the city engineer and shall provide those assessments are not subject to subrogation to mortgage lendersfirst 10 years). Further, the articles shall provide that the board of directors HOA shall be required to expend money for the improvements and repairs to maintain all infrastructures under its jurisdiction. Further, the articles shall require that board of directors the HOA file with the city City annual reports of maintenance and that the board of directors HOA shall be required to initiate any and all needed repairs in a timely manner as shall be identified by either the board or the citymanner. Covenants, conditions, and that restrictions for the treasurer of the property owners association shall HOA must be required to post a surety bondfiled in each Phase.