Ferncliff at Cotswold Townhomes

Key facts from Ferncliff at Cotswold Townhomes's documents

Reflects the 2024 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (Homeowners' Association), not condominium; governed as a planned community under the Planned Community Act (Preamble: 'a North Carolina planned comm)

Legal name

Ferncliff at Cotswold Townhomes Homeowners’ Association, Inc. (Article II Definitions – Townhome Associ)

Developer / declarant

Beechwood Ferncliff LLC, a New York limited liability company (Preamble)

Governing law

Chapter 47F of the North Carolina General Statutes (Planned Community Act) (Preamble and Article I)

Assessments & dues

Regular Annual Assessment is levied on all lots to fund common expenses, determined under Article IX (not fully extracted). Special and Specific Assessments are also defined. (Article II definitions of Regular Annual)

Special assessments

Allowed under Section 9.4; also Specific Assessments allowed under Section 9.5 (costs of maintenance, etc.) (Article II definitions; Sections 9.4 and)

Collections & liens

Unpaid Specific Assessments become a lien on the lot with priorities as provided in the Declaration (foreclosure rights not detailed in extraction) (Section 6.4 and Section 7.9 (for insuran)

Reserves & fees

The document provides for payment of a contribution fee upon conveyance or transfer of a lot (exact amount not stated in extracted text) (Note on first page (uppercase note))

Pets

Yes, reasonable number of cats, dogs, and other ordinary household pets, provided they are not kept for commercial purpose and do not become a nuisance. No animals, livestock, or poultry otherwise. (Section 4.7)

Leasing & rentals

Yes, subject to Section 11.2.2 (not fully extracted) and Association's regulation. No rule may prohibit leasing or transfer. (Section 4.5.3)

Parking & vehicles

Not explicitly restricted, but prohibited from being used as dwelling (Section 4.3.6). Probably subject to nuisance and parking restrictions. (Section 4.3.6)

Fences

Fences require architectural approval (Section 5.1 first paragraph); retaining walls constructed by Declarant may be Common Area (Section II definition). (Section 5.1; Common Area definition)

Architectural approval

Yes, for any structure or thing placed, erected, or installed on or adjacent to any Lot, and for any improvements or exterior alterations, except interior modifications not visible from outside. (Section 5.1; Section 5.2.1)

Home business

Home business use ancillary to primary residential use is permitted, subject to Rules and Regulations and applicable laws. (Section 4.1)

Signs & flags

Yard-mounted flagpoles not permitted except by Association in Common Areas. Owners may display up to 2 official flags of United States, State of North Carolina, Armed Forces, holiday, and/or sports/school team. One flag by pole extending fr (Section 4.3.3)

Setbacks / home size

Maximum height of any Townhome Building shall not exceed 40 feet. (Section 4.3.1; Section 5.1.1)

Maintenance

Association: paint, repair, replace and care for roofs. (Section 6.2)

Insurance

Commercially reasonable deductible not more than $10,000. (Section 7.2.1)

Use restrictions

Townhome Lots and Common Area shall be used for residential and related purposes only, subject to Governing Documents. Declarant and Association may maintain business/management offices; Declarant may maintain info centers, model homes, sal (Section 4.1)

Voting & meetings

Class A Members (non-Declarant lot owners): 1 vote per Townhome Lot. Class B Member (Declarant): 1 vote per lot owned plus 1 vote per lot owned by others. Class B converts to Class A upon termination of Declarant Control Period. (Section 3.3)

Amendments

Not fully provided in text; appears declaration may be amended pursuant to Act; specific threshold not visible (General reference to Act)

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