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AMENDED
BYLAWS
OF
OWNERS ASSOCIATION
(A
Article I -
NAME AND PURPOSE OF CORPORATION
DISCLOSURE STATEMENT
Article I --
NAME AND PURPOSE OF CORPORATION
Section 1.1 Name of Corporation:
The name of the Corporation is Lookout
Mountain West Owners Association (also known as the “Association”)
Section 1.2 Purpose of Association:
The purpose for which the Association is
formed is to administer the real property and improvements known as Lookout
Mountain West (the “Ranch”), a Texas Limited partnership (“Declarant”), situated
in the County of Burnet, State of Texas, which property is described in the
Amended Declaration of Restrictions, Covenants, and Conditions (the
“Declaration”) filed of record in the Real Property Records of Burnet County,
Texas. All capitalized terms used
herein which are not identified herein shall have the meaning set forth in the
Declaration which is incorporated herein for all intents and purposes by
reference.
Section 2.1 Membership:
The qualifications for membership in the
Association, and the voting rights associated therewith, are set forth in the
Declarations. Each member shall have
the rights and obligations set forth in the Declarations and the Rules and
Regulations of the Association.
Section 2.2 Assessments:
Each Owner by acceptance of deed and/or
leasehold assignment for its lot shall be deemed to covenant and agree to pay
the Association all assessments and other amounts levied against the Owner(s) as
provided for by Article V of the Declaration.
Section 2.3 Annual Meeting of Members:
The Members shall hold an annual meeting on the
second Tuesday of February of each year for the purpose of electing Directors
(following the Declarant Control Period) and conducting such other business as
they may deem necessary and appropriate in accordance with the Bylaws and the
Declaration. During the Declarant
Control Period, Declarant shall have the sole power to elect Directors.
Section 2.4 Special Meeting of Members:
Special meetings of the Members may be called by
or at the request of the President or by the Chairman of the Board, or as may be
provided by law or the Articles of Incorporation.
Notice of the call of any Special Meeting may be oral or in writing and,
if written, delivered to each Director not later than three (3) days immediately
preceding the day for which the Special Meeting is called.
Section 2.5 Place of Meeting:
Meetings of the Members shall be held at
the Ranch, or at the principal office of the Association, unless some other
place, within or outside of the State of
Section 2.6 Notice of Meeting:
No notice of annual meetings of the
Members shall be required. Notice of
the call of any special meetings of the Members may or oral or in writing and,
if written, shall be delivered to each Member not less than ten (10) days or
more than sixty (60) days prior to the date for which the meeting is called.
Section 2.7 Quorum:
A majority of the votes of Members
qualified to vote at a meeting of the Members shall constitute a quorum for the
transaction of business at the meeting, and, except as provided in the
Declaration, the act of the majority of the votes of Members present at a
meeting at which a quorum is present shall be the act of the Members.
If, at any meeting of the Members, there be less than a quorum present,
the majority of those present may adjourn the meeting from time to time.
Section 2.8 Voting Rights:
Members shall have
those voting rights set forth in Article IV, Section 4.2, a i of the
Declaration.
Section 2.9 Method of Voting:
Members may vote either in person or by
proxy executed in writing by the Member which shall be valid for eleven (11)
months from the date of its execution, unless otherwise expressly provided in
the proxy. Each proxy shall be
revocable unless expressly provided therein to be irrevocable and other made
irrevocable by law. Voting for
Directors shall be in accordance with the provisions of these Bylaws, the
Articles of Incorporation, and the Declaration.
Section 2.10 Oral and Written Voting:
Voting on any question and on all matters of
agenda and procedure shall be determined in the sole discretion of the presiding
officer except where otherwise required by law or these Bylaws.
Article III
--
BOARD OF DIRECTORS
Section 3.1 Management of Association
The business and affairs of the Association, and
the control and disposition of its properties, shall be vested in the Board of
Directors (the “Board”). The powers
and duties of the Board shall include those obligations and rights set forth
expressly in the Declaration.
Section 3.2 Number of Directors:
The number of Directors of the Association shall
be three (3), or such greater number (but in no event to exceed seven (7)) as
may be fixed by the Board.
Section 3.3 Qualifications of Directors:
Any person may serve as Director of the
Association whether or not he or she is a resident of the State of
Section 3.4 Initial Directors:
The initial Directors of the Association shall
be Barbara L. Richardson, and Claude
McClennahan, Jr. (the “Initial Directors”).
The Initial Directors shall continue to serve as the Directors of the
Association until the earlier of (i) their removal, resignation, or death, or
(ii) the next annual meeting of the Members.
Any Director may serve an unlimited number of successive one (1) year
terms.
Section 3.5 Removal of Director, Appointment of Successor
Directors:
During the Declarant Control Period, the
Declarant shall have the right and power to remove any Director for any reason,
with or without cause, and to designate his or her successor Director.
Section 3.6 Successor Directors:
The provisions of this Section of the Bylaws
shall become applicable as to the appointment, removal, and replacement of
Directors of the Association only following the Declarant Control Period.
(a)
Directors:
The Directors shall continue to serve as Directors
until their successors shall be duly elected by a vote of the Members of the
Association at the next annual meeting of the Members of the Association, held
after the termination of the Declarant Control Period.
(b)
Director
Terms:
The term of office of each Director shall be for one (1)
year. Any Director may serve an
unlimited number of successive one (1) year terms.
(c)
Appointing Successor
Directors:
Upon the death, resignation, or removal of a Director, the
remaining Directors shall appoint a successor Director by a majority vote of the
remaining then serving Directors. If
a majority vote of the remaining Directors can not be achieved, a special
meeting of the Members shall be called for the election of a successor.
(d)
Removal of Director:
Any Director may be removed at any time as a
Director hereof, with or without cause, and for any reason whatsoever, pursuant
to a majority of the votes of the qualified Members cast at a special meeting
noticed and called for that purpose, at which a Quorum is present.
Section 3.7 Director Meetings:
All meetings of the Board shall be held in strict
conformity with these Bylaws.
(a)
Initial
Meeting:
The initial meeting of the Board shall be held by giving
written or oral notice to each Director, at least three (3) days prior to the
meeting, which notice shall state the time and place of the meeting.
(b)
Annual
Meetings:
Annual meetings of the Board shall be held at least once a
year at such time and place as the Chairman of the Board shall designate.
The Board may provide by resolution the time and place, either within or
outside of the State of Texas, for the holding of additional regular meetings of
the Board without notice other than the passing of such resolution.
(c)
Special Meetings:
Special meetings of the Board may be called by or at
the request of the President or by the Chairman of the Board, or as may be
provided by law or the Articles of Incorporation.
Notice of the call of any Special Meeting may be oral or in writing and,
if written, delivered to each Director not later than three (3) days immediately
preceding the day for which the Special Meeting is called.
Section 3.8 Quorum of Directors:
A majority of the number of Directors then elected
and serving shall constitute a quorum for the transaction of business.
The act of the majority of the Directors attending a meeting at which a
quorum is present shall be the act of the Board, unless the vote of a greater
percentage is otherwise specifically required or provided by law, these Bylaws,
the Articles of Incorporation, or the Declaration.
The Directors present at a duly organized meeting may continue to
transact business until adjournment notwithstanding the withdrawal of enough
Directors to leave less than a quorum present.
Section 3.9 Meeting by Telephone:
The Board, as well as any committee thereof, may
hold a meeting by telephone conference call procedures in which all persons
participating in the meeting can hear each other.
The notice of a meeting by telephone conference must state the fact that
the meeting will be held by telephone as well as all other matters required to
be included in the notice.
Participation of a person in a conference call meeting constitutes presence of
that person at the meeting.
Section 3.10 Action Without Meeting:
Any action required to be or which may be taken at a
meeting of the Directors may be taken without a meeting if consent in writing,
setting forth the action so taken, shall be signed by all of the Directors
entitled to vote with respect to the subject matter thereof.
Such consent shall have the same force and effect as a unanimous vote of
the Directors. Such consent shall be
delivered to the Secretary of the Association for inclusion in the Minute Book
of the Association.
Section 3.11 Chairman of the Board:
The Board shall, by majority vote of such Directors,
select one of their number to be the Chairman of the Board who shall preside at
all Directors’ meetings. The
Chairman of the Board so elected shall hold such office for the term for which
he or she is elected Director and until his or her successor shall have been
elected and qualified.
Section 3.12 Compensation:
No Director shall receive any
compensation for acting as such. The
Board may adopt rules authorizing the reimbursement, or advancement of funds, to
Directors for reasonable out of pocket expenditures made on behalf of the
Association or for reasonable expenses incurred in attending meetings of the
Board.
Section 3.13 Committees:
The Board may appoint Committees which, in each
case, shall have the duties, authority, rights, and powers as the Board may
determine.
Section 3.14 Committee Procedures:
A majority of the members of each Committee shall
fix and prescribe the rules for its procedure which shall not be inconsistent
with law, these Bylaws, the Articles of Incorporation, or the Declaration.
Each Committee shall keep full and complete minutes of all of its
meetings, and the presiding member thereof shall report all actions taken at the
first Directors’ meetings succeeding such action(s).
The Board may modify, alter, revise, and/or approve any action taken by
any Committee, provided that no rights or acts of third parties shall be
affected by any such modification, alteration, or revision.
The term of each member of all committees shall expire on the day of the
next annual meeting of the Directors following such member’s appointment to the
committee.
Section 4.1 Officer Positions:
The officers of the Association shall be a President
and a Secretary. In addition, the
Association may have offices of one or more Vice-Presidents or Treasurers.
The Board may create additional officer positions, define the authority
of and duties of each such position, and elect or appoint persons to fill the
positions. Any two or more offices
may be held by the same person.
Section 4.2 President:
The President shall be the principal executive
officer of the Association and shall, in general, supervise and control all of
the business and affairs of the Association.
(a)
General
Duties:
The
President shall generally perform all duties incident to the office of the
President and such other duties as may be prescribed by the Board from time to
time. The President shall see that
all orders and resolutions of the Board are carried into effect, and shall
submit a report of the activities and affairs of the Association at each annual
meeting of the Board and at other times when called upon to do so by the Board.
(b)
Meeting
of Officers:
The President, at his or her discretion, shall call
all meetings of the officers of the Association at such time and place and with
such notice as he or she may determine.
He or she shall preside at all meetings of the officers, and if no
Chairman of the Board has been elected or is not then acting, he or she shall
preside at all Directors’ meetings.
(c)
Signature Required:
The President shall sign, with the Secretary or an
Assistant Secretary when required or deemed advisable, any deed, mortgage, bond,
contract, or other instrument which the Board shall authorize to be executed,
except in cases where the signing and execution thereof shall be expressly
delegated by the Board to some other officer or agent of the Association, or
shall be required by law to be otherwise signed or executed.
Section 4.3 Vice-Presidents:
In the absence of the President or in the event of
his or her inability or refusal to act, the Vice-President shall perform the
duties of the President, and when so acting shall have all the powers of and be
subject to all the restrictions upon the President.
The first Vice-President in the order designated by the Board, or in the
order of their election in the absence of such designation shall serve in such
capacity in the event that there is more than one Vice-President.
A Vice-President shall perform such other duties as from time to time may
be assigned him or her by the President or by the Board.
Section 4.4 Secretaries:
The Secretary shall perform all duties incident to
the office of the Secretary and such other duties as from time to time may be
assigned to him or her by the President or the Board.
The Secretary (and Assistant Secretaries, if any are so elected by the
Board) shall have all of the duties and responsibilities as given by the laws of
the State of
(a)
Minutes:
The Secretary shall keep the minutes of the
Directors’ meetings in one or more books provided for that purpose.
(b)
Notices:
The Secretary shall see that all notices are duly
given in accordance with the provisions of these Bylaws or otherwise required by
law.
(c)
Corporate Records:
The Secretary shall be the custodian of the seal of
the Association, if any, and of the corporate records.
Section 4.5 Treasurer:
The Treasurer shall, in general, perform all of the
duties incident to the office of the Treasurer and such other duties as may be
from time to time assigned by the Board.
No Treasurer shall be required to give a bond for the faithful discharge
of his or her duties unless otherwise required by the Board.
The Treasurer (and Assistant Treasurers as so elected by the Board) shall
have the following specific authorities and duties:
(a)
Corporate
Funds:
The Treasurer shall have charge and custody of and be
responsible for all funds and securities
of the Association, and receive and give receipt for monies due and
payable to the Association from any source whatsoever.
(b)
Deposits:
The Treasurer shall deposit all such monies in the
name of the Association in such banks, trust companies, or other depositories as
shall be selected by the Board.
Section 4.6 Assistant Treasurers and Assistant Secretaries:
The Assistant Treasurers and Assistant
Secretaries, if any are so elected by the Board, shall perform such duties and
have such authority as shall be assigned to them by the Board.
Section 4.7 Election and Term of Office:
The officers of the Association shall be elected by
the Board for such as they shall determine.
Each officer shall hold office during his or her term and thereafter
until his or her successor shall have been duly elected and qualified, unless he
or she therefore dies, resigns, or is removed in the manner herein provided.
Section 4.8 Officer Compensation:
The compensation, if any, of the officers of the
Association shall be fixed from time to time by the Board.
No officer shall be prevented from receiving such compensation by reason
of the fact that he or she is also a Director of the Association.
Section 4.9 Employment and Other Contracts:
The Board may authorize any officer(s) or agent(s)
to enter into any contract or execute and deliver any instrument in the name of
or on behalf of the Association, and such authority may be general or confined
in specific instances. The Board,
may, when it believes the interest of the Association will best be served
thereby, authorize executive employment contracts which contain such other terms
and conditions as the Board deems appropriate.
Nothing herein shall limit the authority of the Board to authorize
employment contracts for shorter terms.
Section 4.10 Removal from Office:
Any officer or agent elected or appointed by the
Board may be removed by the Board with or without cause and without notice to
such officer or agent. Any such
removal shall be pursuant to a vote by a majority of the Directors present at
any regular meeting of the Board at which a quorum is present.
Any removal shall be in accordance with these Bylaws and the laws of the
State of
Section 4.11 Vacancies:
A vacancy in any office because of death,
resignation, removal, disqualification, or otherwise, may be filled by
appointment of the Board for the unexpired portion of the term.
Section 5.1 Principal Office:
The principal office of the Association shall be
Section 5.2 Registered Agent:
The name of the registered agent of the Association
is
Claude McClennahan, Jr.
Section 5.3 Other Offices:
The Association may also have other
offices at such other places as the Board may from time to time determine that
the business of the Association shall require.
Article VI –
NOTICE PROVISIONS
Section 6.1 Method of Notice:
Any notice required by the Articles of
Incorporation, these Bylaws, or by law to be in writing shall be by certified
return receipt mail, postage pre-paid, addressed to such Director or Member at
such address as appears on the books of the Association.
Such notice required or permitted to be delivered by mail shall be deemed
to be delivered at the time when the same shall be deposited in the United
States Postal Service or such other mail delivery service with the correct
postage affixed thereto.
Section 6.2 Waiver of Notice:
A written waiver of notice signed by the
person(s) entitled to receive written notice shall be the equivalent to the
giving of such notice. Attendance of
a Director or Member at a meeting shall constitute a waiver of notice of such
meeting, except when a Director or Member attends the meeting for the express
purpose of objecting to the transaction of any business on the grounds that the
meeting is not lawfully called or convened in which instance, said objecting
Director or Member shall cause his or her objection to be made in the minutes
taken of any such meeting.
Article VII –
GENERAL PROVISIONS
Section 7.1 Year End:
The year end of the Association is December 31st.
Section 7.2 Amendment to Bylaws:
These Bylaws may be amended, altered, or repealed by
the Board at a regular meeting of the Board at which a quorum is present and
notice of the proposed amendment has been given as provided by the existing
Bylaws. Such notice shall indicate
the Bylaws to be amended, altered, or repealed and the general nature of the
change(s) sought. A vote of a
majority of the Directors attending a meeting at which a quorum is present shall
be required to amend, alter, or repeal these Bylaws.
Section 7.3 Prohibition of Loans to Directors or Officers:
The Association shall not make any loan to a
Director or Officer of the Association.
Section 7.4 Loans to Association:
No loans shall be contracted on behalf of the
Association and no evidence of indebtedness shall be issued in its name unless
authorized by a resolution of the Board.
Such authority may be general or confined to specific instances.
Section 7.5 Indemnification of Directors, Officers, and
Employees:
The following provisions shall be applicable to the
Association’s indemnification of each Director, Officer, or employee (and former
Director, Officer, or employee) of the Association (an “Indemnitee”):
(a)
Indemnification
Standard:
The indemnification provided by this Section 7.5 shall be
allowed only if it is determined by the Board that an Indemnitee [1] conducted
himself or herself in good faith, [2] reasonably believed that his or her
conduct was in the best interest of the Association, and [3] in the case of any
criminal proceeding, there was a reasonable basis upon which to believe that his
or her conduct was lawful.
(b)
General
Indemnification Provisions:
Subject to the provisions of paragraph (c), below,
each Indemnitee shall be fully indemnified by the Association to the extent
permitted by the Texas Non-Profit Association Act, or other applicable law or
statute of the State of Texas, under the circumstances in which indemnification
is permitted by said Act or said statute against liabilities imposed upon the
Indemnitee and expenses and costs, including attorneys’ and other professional
fees and court costs, actually and necessarily incurred by an Indemnitee in
connection with [1] any threatened, pending, or completed action, suit, or
proceeding, whether civil, criminal, administrative, arbitrative, or
investigative (collectively referred to herein as an “Action”), [2] any appeal
in such an Action, and [3] any inquiry or investigation that could lead to such
an Action, to which an Indemnitee is, was or is threatened to be made a named
defendant or respondent in an Action or a party by reason of such Indemnitee
being, or having been a Director, Officer, or employee of the Association.
(c)
Prohibited
Indemnification Actions:
The Association shall not indemnify an
Indemnitee on account of any Action if [1] the Indemnitee is or was found liable
on the basis that personal benefits were improperly received, [2] the Indemnitee
is or was found liable to the Association, or [3] the Indemnitee is or was found
to have exercised bad faith or committed an illegal or criminal act.
(d)
Advancement of Costs and Expenses:
Reasonable expenses and costs incurred by and
Indemnitee may be paid or reimbursed
by the Association in advance of the final disposition of the Action, if
the Board receives a written sworn affirmation from the Indemnitee that [1] his
or her standard of conduct as provided in paragraph (a), above, has been met,
[2] that he or she agrees to repay such amounts if it is ultimately determined
that such standards were not met or such indemnification is precluded by these
Bylaws, or other applicable federal or state laws, and [3] the advancement or
reimbursement is approved by the Board as provided in these Bylaws.
Section 7.6 Liability Insurance:
The Association shall have power to purchase and
maintain (in its sole discretion) insurance on behalf of any person who is or
was a Director, Officer, employee or agent of the Association or is or was
serving at the request of the Association as a Director, Officer, partner,
venturer, proprietor, employee, agent, or similar functionary of another
Association, partnership, joint venture, trust, employee beneficiary plan or
other enterprise, against any liability asserted against him or her and incurred
by him or her in any such capacity, or arising out of his or her status as such,
whether the Association would have the power to indemnify him or her against
such liability under the provisions of these Bylaws or the Texas Non-Profit
Corporation Act.
Section 7.7 Dissolution of Association:
Upon the dissolution of the Association, the Board
shall, after paying or making provisions for the payment of all of the
liabilities of the Association, distribute all of the assets of the Association
exclusively either to the State of Texas or to such organization(s) organized
and operated exclusively for charitable, educational, religious, or scientific
purposes as shall at that time qualify as an exempt organization(s) under the
Internal Revenue Code and/or other applicable federal or state laws.
Section 7.8 Checks, Drafts, and Deposits:
All checks, drafts, or other orders for the payment
of money, notes, or other evidences of indebtedness issued in the name of the
Association shall be signed by such officer(s) or agent(s) of the Association
and in such manner as from time to time may be determined by resolution of the
Board. All funds of the Association
not otherwise employed shall be deposited from time to time to the credit of the
Association in such depositories as the Board by resolution may select.
Section 7.9 Books and Records:
The Association shall maintain current true and
accurate financial records with full and correct entries, and the Association
shall keep minutes of the proceedings of the Board and Committees.
Section 7.10 Resignations:
Any Director, officer, or agent may resign by giving
written notice to the President or the Secretary.
Such resignation shall take place at such time specified therein or
immediately if no time is specified therein.
Unless otherwise specified therein, the acceptance of such resignation
shall not be necessary to render the resignation effective.
Section 7.11 Construction of Bylaws:
The Bylaws shall be construed in accordance with the
laws of the State of
CERTIFICATE OF SECRETARY
I certify that I am the duly elected and acting
Secretary of the Association, and that the foregoing Bylaws constitute the
Bylaws of the Association. These
Amended Bylaws were duly adopted at a meeting of the Board of Directors held on
September 24, 2007.
DATED: ______________________________, 2007.
_______________________________________________
Secretary of the
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DISCLOSURE STATEMENT
Each and every Lot (as said term is defined in the
Declaration of Covenants, Conditions, and Restrictions for Lookout Mountain
West, hereinafter referred to as the “Declaration”) within Lookout Mountain West
is subject to mandatory membership in Lookout Mountain West Owners Association
(hereinafter referred to as the “Association”).
There shall be one membership in the Association
attributable to ownership of each Lot.
Each owner of a Lot, by acceptance of a deed shall
be deemed to covenant and agree to pay to the Association all assessments,
charges, fines, penalties, or other amounts as more fully set forth in the
Declaration.
The Declarant has the right to appoint all members
of the Board of Directors of the Association until termination of the Declarant
Control Period.
The Declarant has four (4) votes for each Lot owned
and/or retained by the Developer during the Declarant Control Period, whereas
each owner shall have one (1) vote per Lot owned.
The Declarant Control Period shall end on the
earlier of (i)
the date of the sale by the Declarant of the last Lot owned by Declarant in
Lookout Mountain West, or (ii) the date the Declarant voluntarily terminates its
Class B member status by recording a written notice of such termination in the
public real estate records of Burnet County, Texas.
All improvements to a Lot are subject to the
approval of the Design Review Board of the Association.
The Board of Directors of the Association shall
appoint the members of the Design Review Board.
A Recreation Area containing recreational amenities
not herein specified may be developed.
Owner use of the Recreational Area is subject to
and conditioned upon rules and regulations as adopted and as may be amended from
time to time by the Board of Directors of the Association.
You are hereby advised that
there may be certain risks associated with the use and enjoyment of Lookout
Mountain West, and all areas may create or contain hazards associated with the
use and enjoyment of such area.
Possible hazards include but are not limited to the
following:
Snakes, as well as other
wildlife inhabit Lookout Mountain West and may pose a risk or danger to owners,
their families, guests, invitees, and others.
High cliffs and hills are present on Lookout
Mountain West, including common area.
Falling from these cliffs and/or hills may result
in death and/or other personal injury.
Hiking, bicycling, motorized “four-wheeling” and
other recreational activities may result in death and/or other personal injury.
Seller has or may grant easements over portions
of the development known as Lookout Mountain West of which the Property is a
part for access and ingress and egress to, and for the benefit of property
adjacent to, but not part of, the Lookout Mountain West subdivision.
The Association has established a capital
reserve fund for repairs and replacements of common roadways and other common
elements.
At closing, Buyer shall be required to pay the sum of $250.00 to the
Association to establish the capital reserve fund.
Seller shall at the same time deposit $500.00 to such fund.
Buyer acknowledges that seller is conveying
the Property on an “AS IS” basis, and without warranty of any kind except for
the warranty of title contained in the Special Warranty Deed to be given by
Seller.
Seller disclaims any and all warranties concerning the nature of
condition of the Property, or the suitability of the Property for any particular
purpose.
Seller reserves the right to plat and replat the development of
Lookout Mountain West without the joinder or consent of Buyer and to vary and
reconfigure the Lot dimensions as Seller may determine in Seller’s sole
discretion.
Buyer acknowledges and agrees that, prior to
closing, Seller will file for record the Declarations and a plat or plats of the
Property.
The Declarations and plat(s) shall be a permitted exception to title
and will refer to the Special Warranty Deed to Buyer as an exception to Seller’s
warranty of title.
NOTICE REGARDING POSSIBLE LIABILITY FOR ADDITIONAL TAXES.
IF FOR CURRENT AD VALOREM TAX YEAR THE TAXABLE VALUE OF THE LAND THAT IS THE
SUBJECT OF THIS CONTRACT IS DETERMINED BY A SPECIAL APPRAISAL METHOD THAT ALLOWS
FOR APPRAISAL OF THE LAND AT LESS THAN ITS MARKET VALUE, THE PERSON TO WHOM THE
LAND IS TRANSFERRED MAY NOT BE ALLOWD TO QUALIFY THE LAND FOR THAT SPECIAL
APPRAISAL IN A SUBSEQUENT TAX YEAR AND THE LAND MAY THEN BE APPRAISED AT ITS
FULL MARKET VALUE.
IN ADDITION, THE TRANSFER OF THE LAND OR A SUBSEQUENT CHANGE IN THE
USE OF THE LAND MAY RESULT IN THE IMPOSITION OF AN ADDITIONAL TAX PLUS INTEREST
AS A PENALTY FOR THE TRANSFER OR CHANGE IN THE USE OF THE LAND.
THE TAXABLE VALUE OF THE LAND AND THE APPLICABLE METHOD OF APPRAISAL
FOR THE CURRENT TAX YEAR IS PUBLIC INFORMATION AND MAY BE OBTAINED FROM THE TAX
APPRAISAL DISTRICT ESTABLISHED FOR THE COUNTY IN WHICH THE LAND IS LOCATED.
By my signature, I hereby certify that I have made
an “on site” inspection of the Property, and read this Disclosure Statement,
that
I understand and agree to the terms and conditions stated herein, and
that I am not relying upon any statements made to me that may not be otherwise
contained in this Statement.
Lot Number:
Date:
, 20
Buyer:
Buyer:
Signature
Signature
Printed Name
Printed Name
No harassment of wildlife shall be permitted on the Property.
Hunting or the discharge of firearms is prohibited on all areas of the
Property.
No fireworks shall be permitted on any area of the Property.
Removal of any rock, plant material, topsoil, or similar item from any
area of the Property is prohibited.
No motorcycle, moped, or other motorized recreational vehicle shall be
within or on the Property except for
Licensed motorcycles and mopeds that are driven on roadways, and
Single passenger “four-wheel,” “Mule,” or golf cart vehicles that may be
driven on roadways, and
within the
area of one’s own Lot.
The operation of such single passenger four-wheel
vehicles shall be limited to daylight hours only.