Osprey Isle

What Osprey Isle's governing documents say

Osprey Isle is a single-family home planned community in Bolivia, NC, governed by a homeowners' association (HOA). This document is the full declaration of covenants, restrictions, and easements that applies to all owners, residents, and guests. It covers property rights, assessments, use restrictions, architectural control, and more.

• What you own & maintain: You own your individual lot and home (a 'Unit'). The Association owns and maintains the Common Areas (e.g., ponds, drainage systems, landscaping, entrance features). You must maintain your own unit, including lawn, driveway, roof, windows, and painting, as specified in Article 10.
• Assessments & fees: All owners pay annual assessments to cover Common Expenses (maintenance, insurance, reserves). The Board sets the budget; if the increase is 50% or less, 90% of votes can reject it; if more than 50%, 67% can reject. Special assessments require 50% of votes cast. Specific assessments may be levied for damage caused by an owner or for fines.
• Leasing & rentals: Leases require application and approval by the Association (Article 12). The Association can collect rents directly if an owner fails to pay assessments. Owners are responsible for tenant conduct. No time-sharing or vacation multiple ownership plans are allowed.
• Architectural review: All exterior changes (structures, landscaping, fences, paint, etc.) must be approved by the Architectural Review Committee (ARC). The ARC has broad discretion and may require fees, deposits, or fines. Interior improvements are not subject to review.
• Use restrictions: Units are for single-family residential use only. Nuisances, above-ground utilities, clothes hanging, and auxiliary structures are prohibited. Signs and flags are regulated (including U.S. and NC flags). Vehicles, trailers, campers, and boats must be parked/stored per rules. No more than two domestic pets are allowed (Article 11).
• Parking & vehicles: Parking and storage of vehicles, trailers, campers, and boats are restricted (Section 11.7). Operating recreational vehicles may be limited. The Association may remove improperly parked vehicles at owner expense.
• Dispute resolution: Most disputes between owners or with the Association must go through mediation and then arbitration before litigation (Article 15). Exempt claims include those for personal injury or property damage.
• Declarant rights: The developer (Lennar Carolinas, LLC) retains significant control until at least 2040 or until it no longer owns units. It can annex additional property, withdraw land, amend the declaration, and control the Board during the Declarant Control Period.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.