Decl Cov/Cond/Restrict

Key facts from Decl Cov/Cond/Restrict's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned community (Section 1.1)

Developer / declarant

Stafford Caldwell, LLC (Opening paragraph)

Governing law

North Carolina Planned Community Act, N.C.G.S. § 47F-1-101, et seq. (Section 1.1)

Assessments & dues

Board budgets and allocates Common Expenses; may include reasonable reserve. (Section 8.2)

Special assessments

Authorized per Section 8.3. (Section 8.3)

Collections & liens

Association has lien for assessments per Section 8.6. (Section 8.6)

Reserves & fees

Common Expenses may include reasonable reserve for capital repairs and replacements. (Section 2.1 definition of Common Expense)

Leasing & rentals

Yes, but rules may restrict multiple leases and require minimum 12-month term per Section 3.4(h). (Section 3.4(h))

Architectural approval

Yes; prior written approval required for any structure or thing placed on Unit, except repainting to original colors and interior remodeling per Section 4.1. (Section 4.1, 4.2)

Home business

May be prohibited if not normally associated with residential use per Section 3.4(f). (Section 3.4(f))

Signs & flags

Political signs permitted with time and size regulations per Section 3.4(d); other signs subject to architectural restrictions. (Section 3.4(d))

Insurance

Deductible treated as Common Expense unless loss due to Owner negligence/willful misconduct, then assessed as Specific Assessment per Section 7.4(b). (Section 7.4(b))

Use restrictions

Yes; Units are for single-family residential occupancy. (Section 2.1 definition of Unit: 'detache)

Voting & meetings

Class A: one vote per Unit; Class B: no vote but appoints majority of Board during control period (Section 6.3)

Amendments

By Declarant (18.1) and by Members (18.2); validity and effective date (18.3). (Article XVIII)

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