Wesley Oaks

Key facts from Wesley Oaks's documents

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

Community type

HOA (Homeowner's Association) (Document title and Section 1.05)

Legal name

Wesley Oaks Homeowners Association, Inc. (Whereases and Section 1.05)

Developer / declarant

Centex Homes, a Nevada general partnership (First page of Declaration)

Governing law

North Carolina Planned Community Act, Chapter 47F, North Carolina General Statutes (Section 1.01)

Age restriction

Not present

Assessments & dues

First year: $515 per Lot for Class A Member (other than Lennar); $25 per Lot for Class B Member or Lennar (Section 9.05(a))

Special assessments

Board may levy for capital improvements; ratio 3:1 for Class A (non-Lennar) vs Class B/Lennar; if exceeding 5% of budgeted gross expenses, requires 67% vote of each class (if two-class) or 67% of total voting power and non-Declarant vote (Section 9.06)

Collections & liens

Unpaid assessments become a lien on the Lot upon recording a notice of assessment; may be foreclosed in accordance with North Carolina law (Section 9.01)

Reserves & fees

Board shall establish reserves for Common Area replacements and maintenance; initial budget sets reserves; subsequent budgets must provide at least same reserve level unless lower level approved by majority of voting power (per class if two (Section 9.04)

Pets

Yes, dogs, cats, and other household pets; not for commercial purposes (Section 7.08(a))

Leasing & rentals

Yes, but only entire Lot (no partial); no hotel/transient use (Section 4.03(b))

Parking & vehicles

Not specifically prohibited; but streets may be Common Area or public; parking on Common Area is generally restricted (Section 7.03 (boats, trailers, etc. not )

Architectural approval

Yes, for any building, fence, wall, pool, spa, statuary, flagpole, mailbox, basketball goal, sports equipment, antenna, satellite dish, awning, storm door, exterior color change, or any other structure or improvement; interior alterations e (Section 13.01)

Home business

Permissible if not conflicting with local zoning, not unduly burdening traffic or causing excessive non-resident parking; Board determines compatibility on case-by-case basis (Section 7.01)

Signs & flags

One sign of customary size for sale or rent allowed; no other signs visible from outside Lot except as permitted by Rules and Regulations; Declarant/Lennar signs exempt (Section 7.04)

Setbacks / home size

Building lines applicable; fences limited as above (Section 7.07 (fence setback) and Section)

Maintenance

Owner responsible for Lot improvements including roof (Section 6.02 (Owner maintains improvemen)

Insurance

Fire and extended coverage casualty on Common Area at full insurable value; liability insurance in adequate amounts (Section 10.02(a))

Use restrictions

Lots shall be used as a residence for a single family or housekeeping unit; no business, commercial, manufacturing or mercantile use (Section 7.01)

Voting & meetings

Two classes: Class A (all Owners except Declarant) – 1 vote per Lot; Class B (Declarant) – 3 votes per Lot until conversion to Class A on earlier of conveyance of 75% of Lots to non-Declarant owners or 10 years after first Lot sold for resi (Sections 8.03, 8.04)

Amendments

Termination requires 80% vote of total Voting Power and 80% of Mortgagees (or lesser percentage as permitted by Act); specific sections may require higher percentages or approval of Declarant/FHA (Sections 2.03, 7.12 (amendment of Sectio)

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