Regency Oaks in Garden Ridge

Regency Oaks in Garden Ridge

NEW DEVELOPMENT IN GARDEN RIDGE

See "About Your Association" for details.

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About our association

ENRICHMENTS, RIGHTS AND RESPONSIBILITIES OF MEMBERSHIP

HISTORICAL PERSPECTIVE

The Regency Oaks Subdivision was established in 2000 as a residential subdivision, when a Declaration of Covenants, Conditions and Restrictions (DCC&R) was filed in Comal County, Texas on May 1, 2000 by the owner of all the property. This "Declarant" is Laredo GFG Development, Ltd. a Texas Limited Partnership. The subdivision which contains 55 residential lots, is located on Nacogdoches Road in the City of Garden Ridge, Texas.

The RO Homeowners Association was chartered with the State of Texas as a non-profit corporation in October 2000.


ASSOCIATION MEMBERSHIP

The DCC&R for the RO Homeowners Association states that all Lot Owners automatically become members of the Homeowners Association upon receipt of a deed to a lot in the subdivision.

IMPORTANCE OF READING AND UNDERSTANDING THE PROJECT DOCUMENTS

The Declaration of Covenants, Conditions and Restrictions (DCC&R) of the REGENCY OAKS SUBDIVISION establishes the rights and responsibilities of all Lot Owners. .

The Bylaws of the RO HOMEOWNERS ASSOCIATION explain the rights and responsibilities of the Members of the Association.

BENEFITS AND OBLIGATIONS OF MEMBERSHIP

As a Lot Owner and Member, you will be required to contribute to the common expenses through annual assessments, obey the rules and abide by the restrictions designed to maintain Regency Oaks Subdivision as a first-rate community. In return, you will have the opportunity to become involved in the operation of your association by voting annually, serving on committees and the Board of Directors, and by participating in community functions of your choice.

IMPORTANT ARCHITECTURAL CONTROL ISSUES

Regency Oaks is a Deed Restricted Community. To ensure uniformity of architecture and harmony of external design throughout the subdivision, the DCC&R (Article 3) establishes the Architectural Committee (AC) to oversee all construction on the individual lots and in the common areas. For everyone's protection, no improvement such as a building, fence, wall or other structure may be started until the plans and specifications have been submitted to, and approved by the Architectural Control Committee. Any plans for modification of, or addition to, existing structures or certain landscaping must also be reviewed and approved before work begins. This also includes changes of color. (See Article 3.3 of the Declaration.)

The Architectural and Use Restrictions were established to protect and enhance the value, desirability and attractiveness of the property within the subdivision. For example, Article 4, Section 4.3.7 of the Declaration prohibits common cement, cinder block or chain link fence of any type on any lot. Section 4.3.8 regulates athletic equipment and facilities. Potential Lot Owners should have reviewed these restrictions prior to closing. By accepting a deed to a lot in the REGENCY OAKS SUBDIVISION, you, your family, tenants or invited guests agreed to abide by these restrictions.

ASSESSMENTS TO PAY COMMON EXPENSES

To ensure that the common property is adequately insured and maintained, all Lot Owners (including the Developer and Builder) are required to contribute to the expense of upkeep, administration, taxes and insurance. The maximum annual assessment rate set for the first Fiscal Year for these services has been established at $300.00 per year for a developed lot.

Assessment rates are established on the ownership of each lot. The Board of Directors determines the assessment rate based on the approved budget and announces the assessment at least thirty days prior to the first day of January of each year after the first year.


EXAMPLES OF COMMON EXPENSES:

Upkeep, maintenance and repair of the common areas, including landscaping.

Payment of utilities used on the common areas

Taxes assessed upon the common areas owned by the Association

General hazards and liability insurance on property

Directors and Officers insurance covering the Board, Officers, Committee members and volunteers based on their service to the Association

Costs of management and materials used in the corporate, financial, and administrative affairs of the Association

VOTING RIGHTS

Initially, the Association has two classes of voting members. All Lot Owners are considered Class A Members and each Lot has one (1) vote on each matter coming before the Members at any meeting (unless their voting rights have been suspended by the Board of Directors). The Declarant is a Class B Member and has six (6) votes for each lot owned. The initial three (3) member Board of Directors was established in the Articles of Incorporation. Future Boards will be elected at the Annual Membership Meeting.

POWERS OF THE ASSOCIATION

The Association, through its Board of Directors, may bring an action at law against any owner for failure to abide by the covenants, conditions and restrictions established in the Declaration, the Bylaws and/or any corporate resolutions adopted by the Board of Directors.

Legal action can also be taken against any owners for failure to pay assessments for which they are personally obligated, and the Association may foreclose the lien against a lot (even a homestead property) for non-payment of assessments, fees and costs. Interest will be charged on delinquent assessments, and legal fees, court costs and other costs of collection may be added to the amount of the assessment.

No owner may waive or otherwise escape liability for the assessments by not using the common area or by abandoning the property. This ability to enforce the collection of assessments assures that all owners will share equally in the expenses of their Association.

SOCIAL OPPORTUNITIES

Although the Association is primarily responsible for maintenance and upkeep of common areas, it also provides the organization to support the social desires of the residents of the Regency Oaks Subdivision. Your Association can also become your point of contact with the City of Garden Ridge which provides various city services to the subdivision.

ASSOCIATION OPERATION

Copies of the Declaration and the Bylaws are available for your review. If you have any questions regarding these documents, please contact MAXIMUM MANAGEMENT RESOURCES, INC. (MMRI) at 735-8181 for additional information. MMRI is a professional management company

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maxmgmt@satx.rr.com