Springstone

Key facts from Springstone's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

SPRINGSTONE OWNERS ASSOCIATION, INC. (Article I, Section 3)

Developer / declarant

SUD PROPERTIES, INC., a North Carolina Corporation (Preamble)

Governing law

North Carolina Planned Community Act (Chapter 47F of the North Carolina General Statutes) (Article I, Section 1)

Assessments & dues

Set by Board; initial increase cap: $200 per Lot without exceeding 10% cap? Actually: Board may increase to $200.00 per Lot without Member vote; thereafter 10% annual increase limit without 67% vote (Article V, Section 3(c) and (a))

Special assessments

For extraordinary maintenance or capital improvements; requires 67% vote of Members in person or by proxy (Article V, Section 4)

Collections & liens

Lien for unpaid assessments; may be enforced by foreclosure under NC law; subordinate to first mortgages and ad valorem taxes (Article V, Sections 1, 12, 13)

Reserves & fees

Board may create and maintain a reserve fund for periodic maintenance, repair, replacement of Common Properties improvements (Article V, Section 2 (last sentence))

Pets

Yes, dogs, cats, or other household pets allowed, but not for commercial purposes; must be leashed or under control; not allowed to become a nuisance. (Article VII, Section 8)

Leasing & rentals

Not directly addressed; but Owner may delegate right to use Common Properties to tenants (Article II, Section 2). No explicit prohibition on leasing. (Article II, Section 2; no explicit restr)

Parking & vehicles

Off-street parking for at least 2 passenger automobiles required on each Lot prior to occupancy; driveways and parking areas must be concrete, brick, asphalt, or turf stone (or other approved material). (Article VII, Section 1(F))

Fences

Fences permitted only with approval; max height 6 feet; must be located at least 3 feet to rear of the front elevation of the dwelling. (Article VII, Section 1(E))

Architectural approval

Yes; all site preparation, construction, alterations, fences, landscaping, etc., must have prior written approval from Declarant (during control period) or Board/Architectural Control Committee (after). (Article VII, Section 1)

Setbacks / home size

At least 1,400 square feet of enclosed, heated dwelling area (excluding garages, terraces, decks, open porches). (Article VII, Section 2(A))

Maintenance

Association responsible for Common Properties and Limited Common Properties maintenance; if damage caused by Owner's act/negligence, cost may be personal obligation of Owner (if not covered by insurance). Lot maintenance is Owner's responsi (Article III, Section 4(b); Article VII, )

Insurance

Deductibles payable by Association are a Common Expense; Insurance Assessment may be levied to pay deductibles not included in Annual Assessment. (Article V, Section 5)

Use restrictions

Yes; all numbered Lots restricted to single-family dwellings; no other use except as provided. (Article VII, Section 3)

Voting & meetings

One vote per Lot; majority vote unless otherwise specified; voting rights can be suspended for nonpayment or rule infractions (Article III, Section 3; Article II, Sect)

Amendments

By 67% vote of Lot Owners (unless otherwise provided); termination requires 80% vote; amendment cannot deprive Declarant of rights; amendments for termination per NC statute; certain amendments require governmental approval. (Article X, Section 6)

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