Fill and Sign the Tx Resale Form

EQUAL HOUSING OPPORTUNITY PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) P.O. BOX 12188, AUSTIN, TX 78711-2188 RESALE CERTIFICATE FOR PROPERTY SUBJECT TO MANDATORY MEMBERSHIP IN AN OWNERS' ASSOCIATION (NOT FOR USE WITH CONDOMINIUMS) Resale Certificate concerning the Property located at ______________________________(Street Address), City of __________________,_______________, County, Texas, and any Common Elements, prepared for the owners' association (the Association) by the Association's governing body (the Board). A. The Association ( ) does ( ) does not maintain a right of first refusal that restricts the right to transfer the Property. B. The current regular assessment for the Property is $_________________ per _____________ C. The current special assessment for the Property is $_____________ per _________________ D. The current Property owner owes $_____________ to the Association for _______________ ____________________________________________________________________________ E. The Association has approved capital expenditures of $__________ for the next 12 months. F. Reserves for capital expenditures are $___________________. G. Unsatisfied judgments against the Association total $____________________. H. There ( ) are ( ) are not any suits pending against the Association. An explanation of each suit is attached. I. The Association ( ) does ( ) does not provide insurance coverage for the benefit of owners. J. The Board ( ) has knowledge ( ) has no knowledge of alterations or improvements to the Property or to the Common Elements assigned to the Property or any portion of the Common Elements that violate any provision of the plat, by-laws or rules of the Association, or that constitute a material physical defect. Known violations or defects are: _____________________ _____________________________________________________________________________. K. The Board ( ) has ( ) has not received notice from a governmental authority concerning violations of health or building codes with respect to the Property, the Common Elements assigned to the Property, or any other portion of the Common Elements. Notices received are:__________________________________________________________________________. L. The Association transfer fee is $_________________. M. The remaining term of any leasehold estate that affects the Property, the Common Elements assigned to the Property, or any portion of the Common Elements is _________________, and the provisions governing the extension or renewal of the lease are:________________________ _____________________________________________________________________________. ATTACHMENTS:(check appropriate boxes) ( ) Articles of Incorporation ( ) Income and Expenses Statement ( ) Balance Sheet ( ) Operating Budget ( ) By-Laws ( ) Restrictive Covenants ( ) Certificate of Insurance ( ) Rules and Regulations ( ) Other:___________________________ Page 1 of 2 NOTICE: The Certificate must be prepared no more than 90 days before the date it is delivered to Buyer. Received:__________________________20___ ____________________________________ Name of Owners' Association _______________________________________ By:_________________________________ Buyer Title: _______________________________ _______________________________________ Mailing Address:______________________ Buyer ____________________________________ Date: _______________________________ The form of this certificate has been approved by the Texas Real Estate Commission for use only with similarly approved or promulgated forms of contracts. No representation is made as to the legal validity or adequacy of any provision in any specific transactions. (12-95) TREC No. 37-0. Page 2 of 2