Ellerbee Creek Preserve Homeowners Association

Key facts from Ellerbee Creek Preserve Homeowners Association's documents

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

Community type

Homeowners Association (HOA) (Title)

Units / lots

86 (Lots 1-49, 112-133, 84-98; Phase I) (Schedule A)

Governing law

North Carolina General Statutes Chapter 55A (Nonprofit Corporation Act) (Article I, Section 1)

Assessments & dues

$240 per lot per year ($20 per month) until January 1, 2007 (Article VI Section 3)

Special assessments

Allowed for capital improvements with 2/3 vote of each class; also for stormwater obligations (Article VI Section 4, Article V Section )

Collections & liens

Assessments are a continuing lien on the lot; may be foreclosed like a mortgage or deed of trust; personal obligation of owner (Article VI Section 1, Section 8)

Reserves & fees

Required for recreational area (from July 1, 2006) and for stormwater reconstruction/repair (separate fund, 20% of annual assessments) (Article VI Section 7, Article V Section )

Leasing & rentals

Yes, with minimum lease term of 6 months; lease must be in writing and include a clause binding tenant to declaration and rules (Article VIII Section 8)

Architectural approval

Yes, for any building, fence, sign, wall, structure, exterior addition, alteration, major landscaping; plans and specs must be submitted to Declarant; if no response in 30 days, deemed approved (Article VII)

Signs & flags

Subject to architectural approval; no sign without approval (Article VII: building, fence, sign, wall)

Insurance

Association must obtain fire and other hazard insurance on improvements, broad form public liability, vandalism coverage (Article VI Section 12)

Voting & meetings

Two classes: Class A (each lot 1 vote, multiple owners one vote), Class B (Declarant, 3 votes per lot). Class B ceases when Class A votes equal Class B or December 31, 2010. (Article IV Section 2)

Amendments

By instrument signed by owners of at least 80% of lots; must be recorded; Article V (stormwater) can only be amended by Declarant; FHA/VA approval required during Class B period (Article VIII Section 3, Section 4; Artic)

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