Valley Springs Owners Association Inc

Key facts from Valley Springs Owners Association Inc's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (Section 1.03: "Homeowners Association")

Legal name

Valley Springs Homeowners Association, Inc. (Section 1.03)

Developer / declarant

SAB VALLEY SPRINGS, LLC, a North Carolina limited liability company (Page 5, Section 1.08)

Governing law

North Carolina Planned Community Act, N.C. Gen. Stat. §47F (Recitals, Sections 1.14, 4.09, 7.09, 7.1)

Assessments & dues

Initially $575.00 per year ($143.75 per quarter) for first year; thereafter set by Board (Section 4.03(b))

Collections & liens

Assessments become a lien when claim of lien filed; personal obligation of Owner; Association may foreclose (Sections 4.01, 4.09)

Reserves & fees

Association shall maintain adequate reserve fund for periodic maintenance, repair, replacement of Common Elements; also separate Major Reconstruction Fund for stormwater facilities (Sections 4.02(b), 9.04, 9.07)

Pets

Dogs, cats, or other household pets permitted, not for commercial purposes, in compliance with local ordinances (Section 7.06)

Leasing & rentals

Yes, with restrictions (Section 2.09)

Architectural approval

Any construction, improvement, alteration, repair, change in paint color, excavation, grading, fencing, planting, landscaping, yard ornaments, bird baths, flower boxes, mailboxes, etc. requires ARC approval (Section 5.01)

Signs & flags

Generally prohibited except one 'For Sale' sign of Board-approved size; political signs per Section 7.09; Declarant and Approved Builder have rights (Section 7.04)

Setbacks / home size

Heated area at least 2,200 square feet exclusive of open porches, decks, garages (Section 7.02)

Use restrictions

Each Lot shall be used solely for construction and single-family occupancy of a residence (Section 7.01)

Voting & meetings

Class A Members: one vote per Lot owned; Class B Members (Declarant and Approved Builder): ten votes per each Class A vote during Declarant's Development Period (Section 3.02)

Amendments

Article 11 references amendment but full text not provided in excerpt; limited to stormwater restrictions that cannot be reduced (Article 11 (Section 11.03), Article 9.12)

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