Sandstone Lakes Property Owners Association

Any purchaser in the subdivision takes note and acknowledges by purchasing a lot herein a property owners association incorporated as a non-profit corporation, to be known as Sandstone Lakes Property Owners Association, Inc., the membership of which is comprised of all owners of property located in the subdivision and Developer and its successors by assignment.

The Association shall be responsible for implementation and enforcement of the provisions of the Covenants and Restrictions.

Annual dues are $660.00 per year, per lot.  Owners specifically understand and consent by purchasing a lot within the subdivision, that annual dues may be increased by the Developer or the Association and that special assessments (limited to 5% over the preceding year) may be levied.

Dues shall include expenses related to, but not limited to, the following:  

• cost of all insurance, operating, maintenance and repair, expenses for services rendered and reserves authorized and approved by the Developer or Association for the common areas and amenities and facilities and services furnished;
• cost of management and administration by Developer or those employed by Developer, including overhead expenses;
  
• cost of any security gate services or other services;
  
• cost of constructing, landscaping, maintaining, operating and insuring the common and/or recreational amenities and any other common areas, facilities and amenities and payment of all taxes, insurance and assessments made thereon; and
  
• reserves or contingencies operation, repairs or replacements, legal or other professional services necessary in managing the subdivision, and court costs necessary to assure and enforce compliance with the Covenants & Restrictions.