Match Point Village

Key facts from Match Point Village's documents

Reflects the 1986 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhome Association (Non-Profit Corporation) (Articles of Incorporation Article I)

Legal name

LAUREL OAKS HOMEOWNERS ASSOCIATION, INC.

Units / lots

26 (Lots 1-5 inclusive and Lots 51-71 inclusive) (Declaration description of Tract 1)

Developer / declarant

Bragg and Stockett Development, Inc. (Declaration preamble)

Governing law

Chapter 55A of the North Carolina General Statutes (Non-Profit Corporation Act) (Articles of Incorporation preamble)

Assessments & dues

Maximum $420 per lot initially. (Declaration Article IV Section 3)

Special assessments

Allowed for capital improvements with 2/3 vote of each class. Also for insurance deficits without vote. (Declaration Article IV Section 4; Articl)

Collections & liens

Assessment constitutes a lien on the lot; Association may foreclose lien or bring personal action. Lien subordinate to first mortgage and ad valorem taxes. Sale or transfer under foreclosure extinguishes prior assessments but not future one (Declaration Article IV Sections 1, 8, 9)

Reserves & fees

Interest at 10% per annum from due date if not paid within 30 days. (Declaration Article IV Section 8)

Pets

Dogs, cats, other household pets permitted, not for commercial purposes. (Declaration Article X Section 4)

Parking & vehicles

Each lot entitled to one parking space plus at least one additional (Association may allow more). Parking spaces as near as possible. (Declaration Article II Section 4)

Architectural approval

Yes, for any building, fence, sign, wall, or exterior addition. Plans must be submitted to Board of Directors of Association and KF Homeowners Association II, Inc. or their architectural committees. (Declaration Article VI)

Signs & flags

Only 'For Sale' sign meeting Cary Town Code, placed within 8 feet of front face of unit. (Declaration Article X Section 5)

Maintenance

Association. (Declaration Article VIII Section 1 (pain)

Use restrictions

Yes, except temporary Declarant office/model. (Declaration Article X Section 2)

Voting & meetings

Two classes: Class A (all owners except Declarant) - 1 vote per lot; Class B (Declarant) - 3 votes per lot. Class B converts when Class A votes equal or January 1, 1991, whichever earlier. (Articles of Incorporation Article VI; De)

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