HOMEOWNERS ASSOCIATION Clause Samples

HOMEOWNERS ASSOCIATION. 26.1 The Purchaser acknowledges that he shall be obliged to become a member of the Home Owners’ Association (if any) and shall be bound by the Memorandum of Incorporation of the Home Owners’ Association (which may, subject to the ring fencing provisions therein contained, from time to time be amended by a special resolution of the members thereof) and the rules from time to time laid down by the Home Owners’ Association. 26.2 The Purchaser undertakes that he and all persons deriving use of the Property or any part thereof through him will, from the Date of Occupation, duly comply with all the obligations imposed upon members under the Home Owners’ Association’s Memorandum of Incorporation including, but not limited to the obligation to pay a monthly levy to the Home Owners’ Association, the amount of which is to be determined, from time to time, by the directors of the Home Owners’ Association. 26.3 The Property shall be transferred to the Purchaser subject to a title condition to the effect that the Purchaser shall not be entitled to sell or otherwise transfer ownership of the Property unless it is a suspensive condition of such sale or other transfer that the transferee, in a manner acceptable to the Home Owners’ Association, agrees to become a member and is admitted as a member of the Home Owners’ Association.

HOMEOWNERS ASSOCIATION. Every person or entity who is the record owner of a fee or undivided fee interest in any building site that is subject to this Declaration shall be deemed to have membership in the North Lake Shore Homeowners' Association. The foregoing is not intended to include person who hold an interest merely as security for the performance of an obligation, and the giving of a security interest shall not terminate the owner's membership. No owner, whether one or more persons, shall have more than one membership per building site. In the event of multiple owners of a building site, vote and rights of use and enjoyment shall be as provided herein. Membership shall be appurtenant to and may not separated from ownership of any building site. Ownership of a building site shall be the sole qualification for membership. The rights and privileges of membership, including the right to vote and to hold office may be exercised by a member or the member's spouse, but in no event shall more than one vote be cast nor office hold for each building site The Developer shall incorporate the North Lake Shore Homeowners' Association end shall draft, execute and file Articles of Incorporation and By-Laws for the Homeowners' Association consistent with the terms and conditions of this Declaration. Membership in the North Lake Shore Homeowners' Association shall become automatically effective upon the sale or the last lot or building site in North Lake Shore Subdivision, Second Addition, or at such earlier time as the Developer shall elect, at Developer's sole option. The Developer reserves the right to add building sites and memberships located in additional contiguous property to membership in the North Lake Shore Homeowners Association as additional plats, of any, are added to North Lake Shore Subdivision. Any such new members shall be subject to the Same rights and obligations with respect to membership in the Homeowners' Association as all current members at the time any such addition is made. Except as specifically provided otherwise herein, each owner of a building site shall be liable for his proportionate share of the coat (based upon the percentage of all lots owned by an owner as to the total number of lots then subject to the provisions of this Declaration) for the proper maintenance of water retention facilities, drainage facilities and boulevards within the entire North Lake Shore Subdivision, which water retention facilities, Drainage facilities and boulevards are described ...

HOMEOWNERS ASSOCIATION. 9.1 The Purchaser acknowledges that the Property falls under the jurisdiction of the HOA, being a new Homeowners’ Association, which came into existence on registration of transfer of the first Erf in the Development from the Seller to a third party purchaser, it being recorded that the HOA is established for the benefit of, inter alia, all of owners of ▇▇▇▇▇ in the Development and to control and maintain roads, services and amenities within, inter alia, the Development.

HOMEOWNERS ASSOCIATION. If membership in a homeowners' association is mandatory, an association

HOMEOWNERS ASSOCIATION. 8.1 It is recorded that the homeowners association has been established for the benefit of all owners of ▇▇▇▇▇ at the estate to provide for the orderly control and management of the estate and the maintenance of the common services and infrastructure comprised therein. 8.2 The purchaser shall become a member of the Village HOA (The Village at Hoedspruit Wildlife Estate Homeowners Association NPC) and Hoedspruit Wildlife Estate NPC against transfer of the property and shall be bound to remain a member for as long as the purchaser is the registered owner thereof. The seller shall be entitled to procure that the following conditions of title are inserted in the deed of transfer in terms of which the purchaser takes title to the property: 8.2.1 EVERY owner of the erf or any subdivision thereof or any interest therein or any unit thereon as defined in the sectional titles act shall become and shall remain a member of the homeowners association and be subject to its constitution and Rules and Regulations until he ceases to be an owner as aforesaid. Neither the erf nor any subdivision thereof no any interest therein shall be transferred to a person who has not bound himself to the satisfaction of such association to become a member of the homeowners association 8.2.2 The owner of the erf or any subdivision thereof, or any interest therein, shall not be entitled to transfer the erf or any subdivision thereof or any interest therein without a clearance certificate from the homeowners associations that the owner has complied with the provisions of the Memoranda of Incorporation of the said homeowners associations. 8.3 The Seller confirms that copies off the following documentation are available for inspection by the Purchaser at the relevant estate agent’s offices: 8.3.1 The Village Memorandum of Incorporation; 8.3.2 The Village Conduct Rules; 8.3.3 The Village Architectural Guidelines;

HOMEOWNERS ASSOCIATION. 9.1 The HOA has been established for the benefit of, inter alia, all of owners of ▇▇▇▇▇ in the Reserves Development and to control and maintain roads, services and amenities within, inter alia, the Reserves Development. 9.2 The Purchaser shall become a member of the HOA on Transfer. 9.3 The Purchaser shall be entitled to download copies of the Constitution from the HOA’s website or, prior to Transfer, request Val de Vie to furnish him with copies of the Constitution, and the Purchaser agrees to be bound thereby. 9.4 The HOA shall be responsible for the duties imposed by the Constitution and for which all members of the HOA will contribute a levy to be determined by the HOA from time to time. 9.5 The Purchaser shall be and remain a member of the HOA for as long as he is the registered owner of the Property and– 9.5.1 undertakes to familiarise himself with the contents of the Constitution and acknowledges that he is aware of the impact it will have on him and other owners of property within the Reserves Development; 9.5.2 shall comply with (and ensure that all occupants of the Property and his employees, agents, contractors and guests comply with) the provisions of the Constitution; 9.5.3 confirms that he understands that the engineering services provided in the Reserves Development are private in nature and that the HOA will be responsible for the maintenance and sub-metering of such services; and 9.5.4 shall be responsible for and pay promptly on due date all levies and other charges as may be payable to the HOA in accordance with its Constitution.

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. 9.1 The Seller acknowledges that it is anticipated that the Property will fall under the jurisdiction of the Pearl Valley HOA, but if, for some reason, the Development is not incorporated as part of the Pearl Valley Estate, a new HOA will be established for the benefit of, inter alia, all of owners of ▇▇▇▇▇ in the Development and to control and maintain roads, services and amenities within, inter alia, the Development. The Seller has accordingly furnished the Seller with a copy of the Pearl Valley HOA’s constitution and the draft constitution of such new HOA and the Seller will confirm in writing, prior to the Transfer Date which HOA the Purchaser will become a member of on Transfer.

HOMEOWNERS ASSOCIATION. Certain alleys, walkways, landscape tracts, and other private improvements will serve the Property and may also serve lots acquired by other builders within Phase B. In order to address the maintenance obligations related to such private improvements, Seller shall establish a homeowners’ association that will own and/or maintain such private improvements (the “Homeowners’ Association”) and cause the Lots to be annexed into such Homeowners’ Association at Closing hereunder. Within thirty (30) days after the Effective Date, Seller will deliver to Purchaser (and the other builders) for its review and reasonable approval, a declaration with respect to the maintenance of those private improvements (the “Maintenance Declaration”). Purchaser shall have until fifteen (15) days before the end of the Due Diligence Period, as the same may be extended, to notify Seller in writing of any objection that Purchaser may have to the draft Maintenance Declaration. On or before the fifth (5th) business day following Seller’s receipt of Buyer’s objections to the draft Maintenance Declaration, Seller shall notify Buyer, in writing, whether Seller elects to make such modifications to the draft Maintenance Declaration, with Seller not to unreasonably withhold its consent to Purchaser’s request; provided, however, that if Seller does not elect to modify, or elects to modify and does not thereafter modify the Maintenance Declaration within such 5-business day period and such decision is made on a reasonable basis, Purchaser shall have the right to either: (i) terminate this Agreement by delivery of a written termination notice to Seller on or before the end of the Due Diligence Period, in which event the entire Initial Deposit shall be promptly returned to Purchaser, Purchaser shall return to Seller all information and materials received by Purchaser from Seller pertaining to the Property, and thereafter the Parties shall have no further rights or obligations under this Agreement except for those which expressly survive the termination hereof; or (ii) waive any objections to the Maintenance Declaration and proceed with the transaction contemplated by this Agreement, in which event Purchaser shall be deemed to have approved the Maintenance Declaration as to which its objections have been waived. Upon approval of the form of the Maintenance Declaration by the Parties, the Parties will cause such form to be attached to this Agreement by a mutually executed amendment hereto. The Mainte...