River Run Homeowners Association

HOMEOWNERS CONTROL

Apr 07, 2009

WHAT DOES THE RIVER RUN HOMEOWNERS ASSOCIATION MEAN TO YOU?
The River Run Homeowners Association was established as a vehicle to maintain the common areas of the subdivision. Common areas are established to benefit every homeowner, regardless if you have adjoining property to them. The Homeowner's Association is a non-profit corporation owned by all the homeowners. The association is governed by the Declaration of Covenants and Conditions and Restrictions filed with the Recorder's office. As the Covenants require, the homeowners to control and maintain the Association.

HOW DO THE HOMEOWNERS CONTROL AND MAINTAIN THE ASSOCIATION?
The homeowners control and maintain the association with Article IV and Article V of the Declaration of Covenants and Conditions and Restrictions. By using these Articles the Homeowners control the Voting Rights, Board of Directors, and Assessments / Budget.

WHAT IS IN ARTICLE IV.
Association Membership, Voting Rights, Board of Directors, and Professional Management.
Section 4.1 Membership.
Section 4.2 Classes of Membership and Voting Rights.
Section 4.3 Board of Directors.
Section 4.4 Professional Management.

WHAT IS IN ARTICLE V.
Covenant for Maintenance Assessments.
Section 5.1 Creation of the Lien and Personal Obligation of Assessments.
Section 5.2 Purpose of Regular Yearly Assessments.
Section 5.3 Maximum Regular Yearly Assessments.
Section 5.4 Special Assessments for Capital Improvements and Operating Deficits.
Section 5.5 Notice and Quorum for Any Action Authorized Under this Article.
Section 5.6 Uniform Rate of Assessment.
Section 5.7 Date of Commencement of Yearly Assessments; Due Dates.
Section 5.8 Effect of Nonpayment of Assessments: Remedies of the Association.
Section 5.9 Subordination of the Lien to Mortgages: Sale or Transfer.

WHAT IS YOUR REGULAR YEARLY ASSESSMENT USED FOR?
(a). The Regular Yearly Assessments levied by the Association shall be used exclusively, in the reasonable discretion of the Board of Directors of the Association, for the promotion of the recreation, health, safety and welfare of the residents in the Property, for the improvement, maintenance and repair of the Common Area, for the performance of the obligations and duties of the Association and for other purposes only as specifically provided herein.
(b). As and if necessary, a portion of the Regular Yearly Assessments shall be set aside or otherwise allocated in a Reserve Fund for the purpose of providing repair and replacement of the Common Area, and other capital improvements which the Association is required to maintain.
The assessment that is paid annually is collected for expenses to maintain the common areas of the subdivision such as:
* Mowing
* Fertilization
* Mulch, flowers, entryway maintenance
* Utilities -for entryway lighting, street lighting, and irrigation (where applicable).
* Property taxes on Common Area.
* Liability insurance on Common Area.

WHAT IS YOUR MAXIMUM YEARLY ASSESSMENT?
(a) The Maximum Regular Yearly Assessment on any Lot shall be $120.00 per Lot per Year.
(b) The Regular Yearly Assessment may be increased each calendar year not more than 10% above the Regular Yearly Assessment for the previous year.
(c) The Regular Yearly Assessment may be increased each calendar year by more than 10% above the Regular Yearly Assessment for the previous year, with the approval of two thirds (2/3) of those members who cast votes in person or by proxy at a meeting duly called for this purpose.
(d) The Board of Directors may not fix the Regular Yearly Assessment at any amount in excess of the maximum, without a vote of the membership.