DOCUMENTS

Overview of Declaration of Covenants and Restrictions of Knollwood Park Villas (KPV)

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This overview, prepared in August 2023, is intended to provide KPV homeowners a background to KPV and is not intended to replace in any way the original KPV covenants and restrictions as declared on May 31, 1984 by the Adams Road Development Corp., details of which can be found in the following complete 1984 Declaration and as occasionally amended as noted in that Declaration.

The KPV consists of 86 lots including but not exclusive of several common area islands, ponds, gates, and streets. See paragraphs 3 and 4 (both on p. 2) in the original Declaration.

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A homeowner, upon the recording of their deed, becomes a member of KPV Association, INC and the homeowner of that site will have one vote in KPV Association matters. See paragraph 8 (pp. 3-4) in the original Declaration.

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When reading the original 1984 draft of the KPV Declaration bear in mind that some original portions were intended to apply to the original concept, construction, development, and original homeowners prior to a turnover date to the Knollwood Park Association, Inc. by the Adams Road Development, Corp.

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The KPV Association consists of a board of directors which is made up of homeowners of record and consists of a president, vice president, secretary, treasurer, and one at large member. Not on the board are three homeowner members of the Architectural Control Committee who are appointed by the board.

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The KPV Association has an annual meeting of member homeowners, generally late summer or early fall, an annual social dinner paid for separately by homeowners, and periodic directors and architectural committee member meetings. All directors, board members, and committee members are unpaid fellow neighbors and homeowners.

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The KPV assesses a current monthly fee of $285/month (as of 3Aug2023) to cover the common expenses of the association as outlined in the Declaration in paragraph 15 (p. 5) and as currently amended. A copy of such expenses is available through the KPV website. Such fees are due the first of the month and can be automatically deducted by your bank if you choose.

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The total value of KPV is in excess of $30,000,000 and like any investment it is imperative that our home values be maintained. Subsequently, it is important to pay particular attention to paragraphs 12, 13, 14 (pp. 4-5) and 20 (pp. 8-9) in the original declaration as they pertain to the majority of key covenants and restrictions. Please bear in mind the restrictions and covenants are intended to maintain the beauty that attracted you and potential future homeowners to the KPV and will help maintain our home values.

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The purpose of the following version of the covenants and restrictions is to facilitate the availability and searchability of this document for KPV owners (both current and perspective). As mentioned earlier, a complete reading of the KPV Declaration of Restrictions and Covenants can be found at the KPV website and all are encouraged to read and understand it. It is not by accident that KPV remains one of the most attractive and desirable neighborhoods in Granger. Although participation in your association is not mandatory, it is welcome and encouraged.

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Welcome to the Knollwood Park Villas!