Madison Landing

Key facts from Madison Landing's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Community (HOA) (Art. I(a) Act defines as Planned Communi)

Units / lots

23 lots (Exhibit A lists 23 lots, but some may be undeveloped) (Exhibit A)

Developer / declarant

PoSteel Lodge, LLC (First paragraph)

Governing law

North Carolina Planned Community Act (G.S. 47F) (Art. I(a))

Assessments & dues

For 2021: $25 per Lot, $180 per Living Unit. After: Maximum Annual Assessment is 110% of prior year's annual assessment. (Art. II Sec.3)

Special assessments

May be levied for capital improvements or extraordinary maintenance; requires 2/3 vote of each class of Members; Board may declare up to $500 per lot without 90% rejection, not more than once every 5 years (Art. II Sec.9)

Collections & liens

Unpaid assessments (30+ days) become a lien on the Lot; may be foreclosed as permitted by Act or law; lien subordinate to first mortgages and ad valorem taxes; sale extinguishes lien for prior amounts but not personal obligation (Art. II Sec.4 and Sec.10)

Reserves & fees

Allocations to reserve funds are a Common Expense (Art. I(i)(9))

Pets

Usual and common household pets allowed, subject to restrictions (Art. VIII Sec.13)

Leasing & rentals

Not explicitly addressed; Owner may delegate right of use to tenants (Art. V Sec.3) implying leasing is permitted (Art. V Sec.3 (delegation of use to tenan)

Parking & vehicles

Prohibited after notification from Declarant or Johnston County (Art. VIII Sec.8)

Fences

Must have written approval; must be installed in structurally sound and attractive manner; no chainlink except black chainlink; max height 6 feet (Art. VIII Sec.11)

Architectural approval

Yes, for building, fence, other structures, signs, driveways, walks, exterior alterations, etc. (Art. VII Sec.2(a), (c))

Setbacks / home size

Building setback requirements as set forth in Johnston County Subdivision Regulations in effect at time of construction (Art. VIII Sec.5)

Use restrictions

Each Lot shall be used for single-family residential purposes only; Declarant may use as temporary sales office (Art. VIII Sec.1)

Voting & meetings

Class A (one vote per Lot each Owner except Declarant); Class B (Declarant gets five votes per Lot until conversion) (Art. VI Sec.2)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.