Forest Oaks Phases 4A & 4B Homeowner's Association, Inc.

Key facts from Forest Oaks Phases 4A & 4B Homeowner's Association, Inc.'s documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Forest Oaks Subdivision, Phases 4A & 4B

Units / lots

80 (initial); Declarant may establish additional Lots (Section 1.19: 'The Declarant has initial)

Developer / declarant

Woodshire Partners, LLC

Governing law

North Carolina Planned Community Act (Chapter 47F) (Section 1.23)

Assessments & dues

Fixed annual fee of $240 per Lot Owner (in addition to Regular Assessment); Regular Assessment amount set by Board annually (Section 4.1: 'each Lot owner shall be ch)

Special assessments

Board may levy Special Assessments for capital improvements up to $25,000 per item or $50,000 aggregate in a calendar year without 2/3 vote; Declarant must consent until Development Period ends (Section 5.2)

Voting & meetings

Class A Members: one vote per Lot; Class B (Declarant) votes until Development Period ends; Class A cannot vote until after Development Period (Sections 4.5.1, 4.5.2, 4.5.3)

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