Colvard Farms

Key facts from Colvard Farms's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned residential subdivision with single-family homes, homeowners association (Page 1 (Whereases))

Legal name

Colvard Farms Homeowners Association, Inc. (Page 2 (Whereases: non-profit corporatio)

Units / lots

Not explicitly stated; references to numbered lots up to 60 (Builder Property lots 47, 49, 50, 51, 60) (Page 2 (Whereases) and Art. I(k))

Developer / declarant

Colvard Farms Development Company, LLC (Page 1 (first paragraph))

Assessments & dues

Maximum $936 per year per Lot through January 1, 2003. (Art. V, §3)

Special assessments

Levied for capital improvements or deficiencies with assent of 2/3 vote of each class. (Art. V, §4; Art. VII, §3)

Collections & liens

Unpaid assessments become a continuing lien on the Lot, may be foreclosed like a deed of trust under North Carolina law. (Art. V, §10)

Reserves & fees

Board shall provide adequate reserves for repairs and replacements of Permanent Open Space and Common Property. (Art. VI, §1(h))

Pets

Dogs, cats, and other household pets (non-commercial) allowed, provided they do not create a nuisance in judgment of Board. (Art. VIII, §5)

Parking & vehicles

Sailboats, motorboats, jet skis, travel trailers, RVs, campers may only be stored in enclosed garages or approved screened areas. (Art. VIII, §10)

Architectural approval

Yes, for many improvements (dwellings, fences, outbuildings, attachments, antennae, mailboxes, etc.). (Art. VIII, §1, §7, §12, §16, §18, §21)

Home business

Allowed only if operated by resident, no display or sign, no significant traffic, no outside storage, no non-resident employees, and prior written approval from Board and annual registration. (Art. VIII, §1)

Setbacks / home size

Front: 40 ft; Side: 15 ft (20 ft if adjoining street); Rear: 50 ft. (Art. VIII, §24)

Use restrictions

Each Lot shall be used exclusively for single-family, non-transient residential purposes. (Art. VIII, §1)

Voting & meetings

Two classes: Class A (owners) – 1 vote per Lot; Class B (Developer) – 3 votes per Lot. Class B terminates upon (a) Class A votes equal Class B, (b) voluntary termination, (c) January 1, 2020. (Art. III, §2)

Amenities

Swimming pool, clubhouse, other common recreation areas, nature trails. (Art. I(p) (Permanent Open Space includes)

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