HOA Fees definition
Examples of HOA Fees in a sentence
Administrative Agent shall withhold on the Closing Date from the proceeds of the Loan an additional sum in the amount determined by Administrative Agent, in Administrative Agent’s sole discretion, that would equal the amount of HOA Fees payable by Borrower for a period of three (3) months (such reserve hereinafter referred to as the “HOA Assessment Reserve”, with such amount hereinafter referred to as the “Minimum Required HOA Assessment Reserve Amount”) pursuant to the Budgeted Operating Expenses.
Other than as set forth on Schedule III, none of the single family homes are subject to an HOA or a housing development area built by a specific developer and subject to specified criteria (such as HOA Fees), as established by the developer with permission from the applicable Governmental Authority, that determined the private and common areas and building guidelines for residential housing within such area in lieu of what would otherwise be allowed by local zoning laws.