Bonwood

Key facts from Bonwood's documents

Community type

planned community under North Carolina Planned Community Act (Article I, Section 1.1 (B32675 P43))

Legal name

Bonwood Homeowners Association, Inc.

Developer / declarant

The Dowd Company, a North Carolina corporation (Preamble (B32675 P43))

Governing law

North Carolina Planned Community Act, N.C.G.S. § 47F, et seq. (Article I, Section 1.1 (B32675 P43))

Assessments & dues

Board prepares annual budget, allocates General Assessments among Lots proportionally (Article VIII, Sections 8.1 and 8.2 (B326)

Special assessments

Allowed; requires Board approval by majority of Board or by Members representing at least 51% of Class A votes if amount exceeds 10% of annual budget (Article VIII, Section 8.3 (B32675 P23))

Collections & liens

Association has lien for unpaid assessments; power to foreclose under NC law (Article VIII, Section 8.6 (B32675 P24))

Reserves & fees

Board may establish reasonable reserves (Article VIII, Section 8.2 (B32675 P22) -)

Pets

Not specifically mentioned; but general restrictions would apply. No explicit mention. (Not provided in text)

Leasing & rentals

Yes, rule cannot prohibit leasing; may restrict multiple lots and require minimum lease term up to 12 months (Section 3.4(h) (B32675 P51))

Architectural approval

Yes, all exterior improvements and alterations require prior written approval from Declarant or ARC (Article IV, Sections 4.1 and 4.2 (B32675)

Home business

May be prohibited if not normally associated with residential use or if creates nuisance (Section 3.4(f) (B32675 P50))

Signs & flags

Political signs allowed with time, place, and manner restrictions; no rule may prohibit display of US or NC flag (up to 4x6 ft), but no freestanding flagpole; other signs generally not permitted without approval (Section 3.4(c) and (d) (B32675 P50); Art)

Setbacks / home size

Front building setback as shown on recorded maps; side street setback as shown; eaves, steps, stoops, porches, chimneys not considered part of building; deviation up to 10% not a violation (Article IV, Section 4.1 (B32675 P51-52))

Maintenance

Owner maintains Lot; Association maintains Area of Common Responsibility (Common Area and others assumed) (Article V, Sections 5.1 and 5.2; Article)

Insurance

Association required to obtain insurance (Article VI, Section 6.6) but details not provided in text (Article VI, Section 6.6 (B32675 P16))

Use restrictions

Yes, lots intended for detached single-family residence (Definition of 'Lot' (B32675 P48))

Voting & meetings

Class A Members (all Owners) and Class B Member (Declarant until end of control period) (Article VI, Section 6.3 and definition ()

Amendments

By Declarant unilaterally until end of Class B Control Period, subject to not materially adversely affecting rights; thereafter by 67% of Class A votes with Declarant consent during Development and Sale Period (Article XVII, Sections 17.1 and 17.2 (B3)

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