Ganyard Farm Property Owners Association Inc

Key facts from Ganyard Farm Property Owners Association Inc's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned residential development of multi-family attached residential townhouses (PAGE 2)

Legal name

Ganyard Towns Homeowners Association, Inc. (Section 1.04)

Units / lots

102 (Recitals, "approximately 102 Lots")

Developer / declarant

Ganyard Farm, LLC, a North Carolina limited liability company (First paragraph of Declaration)

Governing law

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

Assessments & dues

First year: $300 per Lot for Class A, $25 per Lot for Class B (Section 10.05(a))

Special assessments

May be levied by Board for capital improvements; ratio 3:1 (Class A:Class B); if exceeds 5% of budgeted gross expenses, requires 67% vote of each class or total membership (Section 10.06)

Collections & liens

Unpaid assessments become a lien on the Lot; may be foreclosed in accordance with North Carolina law (Sections 10.01, 10.02)

Reserves & fees

Required for Common Area replacements and exterior maintenance of townhomes (Section 10.04)

Pets

Yes, dogs, cats, household pets allowed; not for commercial purposes (Section 8.08(a))

Leasing & rentals

Yes, but entire Lot only (except Owner may have roommate tenants) (Section 4.03(a))

Parking & vehicles

Park only in paved parking areas or driveway; no boats, trailers, RVs, campers, commercial vehicles on Common Area, driveway, Lot, or public street; no inoperable/junk vehicles; no vehicle repairs except emergency or as permitted (Section 8.03)

Fences

Only rear-of-Lot fences allowed with prior ACC approval; no other fences except by Declarant (Section 8.07)

Architectural approval

Yes, for fences, antennas/satellite dishes, flags, and likely other improvements per Article 13 (not fully excerpted but referenced) (Sections 8.05, 8.07, 8.11, Article 13 ti)

Home business

Permitted if not conflicting with zoning and not unduly burdening traffic or parking; subject to Board approval (Section 8.01)

Maintenance

Association: exterior surfaces (roof, siding, gutters) excluding entry doors, glass; Owner: interior, HVAC, entry doors, windows, interior pest control (Sections 6.01, 6.02)

Insurance

Fire and extended coverage on buildings (100% replacement value); liability insurance ($1,000,000 per occurrence) (Section 11.02)

Use restrictions

Each Lot shall be used as a residence for a single-family or housekeeping unit; no business, commercial, manufacturing, mercantile use except limited home business allowed if compatible (Section 8.01)

Voting & meetings

Two classes: Class A (all Owners except Declarant, 1 vote per Lot); Class B (Declarant, 3 votes per Lot) until conversion (Section 9.03)

Amendments

Termination requires 80% vote; amendments generally require 75% vote (with two-class) or 75% of total and non-Declarant; some sections require Declarant approval or separate class votes (Sections 2.03, 8.12 (amendment of Sectio)

Amenities

Common Area includes walking paths, trails, picnic area, pond, lighting, etc. (see definition) (Section 1.08)

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