Meadows of Banks Homeowners Association Inc

Key facts from Meadows of Banks Homeowners Association Inc's documents

Community type

Covenant / Planned Community

Legal name

Meadows of Banks Homeowners Association Inc

Units / lots

10 (Lots 24-33) (Exhibit A)

Developer / declarant

PERRY PROPERTIES & DEVELOPMENT, INC.

Governing law

North Carolina (Section 7.10)

Assessments & dues

$240.00 per year initial (Section 3.1)

Special assessments

Allowed; after Declarant control requires majority vote of members at meeting; Declarant can levy during control without approval (Section 3.2)

Collections & liens

Automatic lien; may foreclose as mortgage; interest, costs, attorneys' fees added (Sections 3.10, 3.11)

Reserves & fees

Mentioned (common surplus may be applied to reserve) (Section 3.7)

Pets

Up to 5 domesticated household pets (Section 5.5)

Fences

Black wrought iron or aluminum; max 5 feet height; in backyard; no chain link (Section 5.14.6)

Architectural approval

Except original construction by Declarant, no building, fence, etc. without approval of Architectural Control Committee (Section 4.1)

Home business

Not allowed except home office/studio if no interference (Section 5.2)

Signs & flags

One standard 'For Sale' sign typical size; no other signs visible from outside except as permitted (Section 5.10)

Setbacks / home size

Per Subdivision Map and Wake County requirements (Section 5.13)

Use restrictions

Each Lot shall be used only for residential purposes (Section 5.2)

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