Old Gate

Key facts from Old Gate's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

single-family residential subdivision (Recital A, Article 1 definitions)

Legal name

Old Gate Homeowner's Association, Inc. (Recital D, Section 1.02)

Units / lots

at least 61 (specific numbered lots mentioned: 5, 10, 11, 12, 13, 16, 17, 18, 19, 20, 38, 40, 54, 61) (Section 4.03 (lists lots 10,11,12,13,16,)

Developer / declarant

Old Gate Developers, LLC (Preamble heading, Section 1.09)

Assessments & dues

First year $300 per Lot for Class A; Builder pays $100 until becomes Class A. Declarant exempt. (Section 9.04)

Special assessments

Board may levy special assessment for capital improvements; if exceeds 5% of budgeted gross expenses in a fiscal year, requires majority vote of each class (or total). Also special assessment for compliance remedy without vote. (Section 9.05, 9.06)

Collections & liens

Assessment (plus interest, late charges, costs, minimum $200 attorneys' fee) becomes a lien on Lot when notice recorded; lien prior to all liens recorded after. Enforceable by foreclosure under NC law. Association may purchase Lot at forecl (Section 9.01)

Reserves & fees

Delinquent after 15 days; late charge: 1.5% per month on first $1,000, 1% per month on excess above $1,000, minimum $25 per month. Not imposed more than once for same delinquency. (Section 9.10)

Pets

true; dogs, cats, other customary household pets permitted, not for commercial purposes. No animals raised/bred. Maximum of 2 outdoor pets (dogs, cats, etc.) except newborn offspring under 9 months. (Section 7.11(A))

Leasing & rentals

true, with restrictions: minimum lease term 6 months; no hotel/transient use; no renting less than entire Lot; no more than one family per Lot. (Section 4.05(B), Section 7.01 (no transi)

Home business

prohibited; no business, commercial, manufacturing or mercantile use (Section 7.01)

Use restrictions

true; each Lot shall be used solely for construction and occupancy of a residence for a single family (Section 7.01)

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