Property Owners Association. If the Property is subject to mandatory membership in a property owners' association, Seller shall notify Purchaser of the current annual budget of the property owners' association, and the current authorized fees, dues and/or assessments relating to the Property. In addition, Seller shall give to Purchaser the written notice required under §5.012 of the Texas Property Code, if applicable, and Purchaser agrees to acknowledge receipt of the notice in writing. Also, Seller shall give to Purchaser the resale certificate required under Chapter 207 of the Texas Property Code, if applicable, and Purchaser agrees to acknowledge receipt of the resale certificate in writing.
Property Owners Association. Developer shall submit to the city for review at Final Approval and record with the final plat(s) documents necessary to establish and maintain a Property Owner’s (Home Owner’s) Association (aka HOA or POA), including a Declaration and Restrictive Covenants and other documents necessary for the following purposes:
a. Ownership, collection of fees and dues for maintenance for, and maintenance of all:
i. Open space and amenities, including the trail and berm and landscaping along Mill Road (1200 East).
ii. Alley ways and private roads.
iii. Private infrastructure.
b. Review and enforcement of all POA/HOA rules, regulations, and architectural design criteria. Developer and City agree that it is desirable for the development to have high quality homes with architectural details, siding and rock as proposed in the Master Plan and the HOA is necessary to implement this plan.
Property Owners Association. 18.1 It is recorded that a property owners association shall be established for the benefit of all owners of properties within the Development as depicted on the Site Development Plan marked Annexure “B” and as provided for in the Constitution as per Annexure “C”.
18.2 The Purchaser shall automatically become a member of the property association against transfer of the Property and shall remain a member as long as the Purchaser is the registered owner thereof.
18.3 The Purchaser shall be liable for the payment of levies to the property owners association estimated to be the amount referred to in F of the Information Schedule.
18.4 The Purchaser acknowledges that he has acquainted himself with the constitution of the property association as per Annexure “B”.
18.5 The Seller shall register a title deed condition against the Property in terms of which the Property shall not be transferred without the written consent of the property owners association in terms of the constitution.
18.6 The Purchaser acknowledges that until such time as all the buildings on the properties forming part of the Development have been completed, the Seller shall be entitled to approve all building plans on behalf of the property owners association.
18.7 The Purchaser authorizes the Seller to sign, as agent of the property association any such waivers as may be required by the financial institutions who will register mortgage bonds over properties forming part of the Development.
Property Owners Association. The Property is is not part of or included in a Property Owner’s Association. If Property is in a Property Owners’ Association, Seller authorizes Broker to contact , phone # , Seller’s Property Owners’ Association Management Company/Manager for any information regarding the Property Owners’ Association. If Property is a condominium, Seller agrees to obtain and provide Buyer(s) with all items and information required under the terms of a purchase agreement, written request from Buyer and/or Section 35-8A-409(a) of the Alabama Uniform Condominium Act, including but not limited to association documents, bylaws, declarations, covenants, budgets, minutes and information regarding assessments and dues. Seller further agrees to pay all costs associated with obtaining such items and information. Seller is aware of the following assessments issued by the Property Owners’ association, or pending assessments which are likely to be assessed in the future:
Property Owners Association. 8.1 The purpose of the establishment of the POA is to ensure that the Township is administered in accordance with the standards associated with a secure light industrial township in order to fulfill and implement the objects and purposes as set out in the Memorandum and Articles.
8.2 The Purchaser acknowledges that it is a material term that all owners of xxxxx in the Township shall become members of the POA (the Purchaser acknowledging that he/she/it is fully acquainted with the provisions of the Memorandum and Articles (which are accessible on the Website) and that the Purchaser’s tenants, where relevant, shall be obliged to comply with the Memorandum and Articles and the Rules.
8.3 Signature of this Agreement by the Purchaser comprises the Purchaser’s application for membership of the POA, which membership shall be so established upon the Transfer Date, and in respect of which a Membership Certificate shall be issued in the name of the Purchaser and retained by POA (or the managing agent (“Managing Agent”) appointed by it) for so long as the Purchaser retains ownership of the Property; a copy of the Membership Certificate shall forthwith, after issue, be provided to the Purchaser.
8.4 Membership of the POA is obligatory for so long as the Purchaser is the owner of the Property.
8.5 Notwithstanding that membership of the POA shall come into existence on the Transfer Date, the Purchaser shall, nevertheless, be obliged to ensure compliance with the provisions as contained in the Articles and the Rules.
8.6.1 The Township will be developed and established on the basis of a secure light industrial township, the components, X0 Xxxxxxx Xxxx xxx X0 Xxxxxxx Xxxx respectively, to be enclosed on the perimeters by a security barrier (wall/fencing with suitable electrification) (“barrier”), controlled access/egress points and such other security measures (comprising “security installations”) and with the provision of such security services (“security services”) as are considered reasonably necessary for the purposes of the maintenance of safety and security of the occupiers of the xxxxx within the Township (those designated xxxxx 563 and 564, as indicated on the Plan, Annexure “A”, to be vested in the POA for purposes of establishing the dedicated access/egress points);
8.6.2 the Purchaser shall ensure that he/she/it and his/her/their shareholders, members, directors, officers, employees, invitees and other persons requiring access to the Property comply with all se...
Property Owners Association. 9.1 It is recorded that a Property Owners’ Association, known as the Melrose Arch Property Owners’ Association (incorporated under section 21 of the Companies Act 1973) (“the POA”) has been incorporated to administer and control all aspects relating to the Melrose Arch Precinct and the buildings constructed in terms of a General Development Framework Plan for the Melrose Arch Precinct, so as to protect the communal interests of all property owners on the Melrose Arch Precinct.
9.2 In terms of the Constitution of the POA, it is obligatory for all property owners on the Melrose Arch Precinct to become members of the POA, and owners of sections/units in a sectional title scheme shall be represented by the relevant body corporate in accordance with the constitution of the said body corporate.
9.3 The One On Whiteley Body Corporate, when it comes into existence, shall become a member of the POA and shall be bound by the POA’s Memorandum of Incorporation, its Constitution and any rules or regulations issued by the POA from time to time. A copy of the current POA rules and regulations are available upon request.
9.4 By signing this Agreement, the Purchaser undertakes and warrants that he will take such steps as are necessary to familiarize himself with the Memorandum of Incorporation, the Constitution and any regulations, rules or resolutions passed by the POA from time to time, and by which the Purchaser shall be bound as if incorporated herein, including the restriction against alienation of the Unit in the event of levies remaining outstanding in respect of the Unit and/or the Body Corporate and which are due to the POA.
Property Owners Association. The Developer shall establish a Property [Home] Owners Association for the Development with By-laws, rules and regulations consistent with this Agreement, pertinent City Ordinances and Development Codes and state and federal law. The Developer shall submit the organizational documents to the City Attorney for verification of the inclusion of pertinent terms of this Agreement prior to the recordation of same. The Developer must file in the Real Property Records of Parker County, Texas, a Declaration of - Covenants, Conditions and Restrictions (“Restrictions”). Membership shall be mandatory for all homeowners. The Property Owners Association shall establish an architectural control committee. In addition, the Developer and the Property Owners Association shall be responsible for maintaining all private streets, private utilities and private and public common areas, open spaces and facilities, and for enforcing the Restrictions, ; but the City also shall have the right, but not the obligation, to enforce the Restrictions following 30 day notice issued by the City in the event Developer or Property Owners Association fails to perform.
Property Owners Association. DEVELOPER agrees to cause the formation of a homeowners association (“the Southern Pointe Homeowners Association”) prior to the annexation of DISTRICT by CITY, regardless of whether such annexation is a complete annexation or a partial annexation, unless such requirement is waived by the City Administrator. This provision shall not be construed as a limitation on CITY’s annexation authority, but rather as an obligation assumed by DEVELOPER that must be accomplished prior to the effective date of any such annexation.
Property Owners Association. (a) Every property owner in the Subdivision shall be a member of the Property Owners Association, and the Property Owners Association shall be a property owners association as defined by the Texas Property Code. The Board of Directors of the Property Owners Association shall have the right to enforce, by any proceeding at law or in equity, all restrictions, conditions, and reservations now or hereafter imposed by these restrictions, and said lawsuit to be brought in the name of the Property Owners Association, upon a vote by the majority of the Board of the Directors of the Property Owners Association at the duly called meeting of the Board at which a quorum of Directors is present, against any lot owner who is delinquent in payment of the maintenance fees, as delinquent is defined in these restrictions, and Bylaws of the Property Owners Association, as well for enforcement of any other deed restriction violation.
Property Owners Association. 5.01 Property Owners Association to Be Established. Developer shall create one property owner’s association for the Property (collectively the “Association”), and shall establish bylaws, rules, regulations and restrictive covenants (collectively the “Association Regulations”) to assure the Association performs and accomplishes the duties and purposes required to be performed and accomplished by the Association pursuant to this Agreement. The owner of each Lot within the Property shall be required to be a member of the Association. The Association Regulations shall establish periodic Association dues and assessments to be paid by Lot Owners that are and shall be sufficient to maintain any part or portion of the Property designated by Developer or the Association as a common area by a recorded instrument (the “Common Area”). The Association Regulations shall require the dues and assessments to be increased from time to time as necessary to provide the funds required for the maintenance of Common Areas, and to provide funds required for the management and operation of the Association. The Pond Lots containing detention and water quality facilities will be conveyed to the Association for ownership, operation and maintenance.
