Northlake

Key facts from Northlake's documents

Reflects the 1999 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Community (North Carolina Planned Community Act) (Section 1.01: Act means the North Caroli)

Legal name

North Lake Homeowners Association, Inc. (Section 1.05)

Units / lots

44 single-family lots in Section Two, plus potential additional lots from Additional Land (Section 1.09: 44 single-family lots)

Developer / declarant

Calmit Properties, a North Carolina general partnership (First paragraph of Declaration)

Governing law

North Carolina Planned Community Act, Chapter 47F, N.C. Gen. Stat. (Section 1.01)

Assessments & dues

Initial maximum: $100 per Lot for Class A, $35 per Lot for Class B (first assessment year, prorated if less than 12 months) (Section 9.05)

Special assessments

Board may levy for capital improvements; if exceeds 5% of budgeted gross expenses, requires 67% vote (of each class if two-class, or total and non-Declarant). Also special assessment as remedy for non-compliance without vote. (Sections 9.06 and 9.07)

Collections & liens

Unpaid assessments become lien upon recording notice; enforceable by foreclosure under NC law; lien subordinate to prior mortgage liens. (Sections 9.01 and 14.07)

Reserves & fees

Required; initial budget sets level; reduction requires majority vote (of each class if two-class, or total). Funds dedicated to purpose; excess may be reallocated by Board. (Section 9.04)

Pets

Dogs, cats, and other household pets allowed, not for commercial purposes. (Section 7.08(a))

Leasing & rentals

Yes, but only entire Lot, minimum lease term 60 days; no hotel/transient use. (Section 4.03(b))

Architectural approval

Yes, for any building, pool, fence, gazebo, wall, antenna, or other structure or improvement. Interior alterations exempt. (Section 13.01)

Insurance

Each Owner must maintain casualty and personal liability insurance on their Lot in form and amounts per Rules. (Section 10.02(b))

Use restrictions

Lots for single-family residence only; no business except home-based businesses compatible with residential nature allowed on case-by-case basis by Board. (Section 7.01)

Voting & meetings

Two classes: Class A (other Owners) – 1 vote per Lot; Class B (Declarant, Builder, former Builder) – 3 votes per Lot owned. Class B ceases upon sale of 75% of Lots to non-Builder or 10 years after first residence conveyance. (Section 8.03)

Amendments

Termination requires 80% vote of total Voting Power and 80% of Mortgagees. Amendment of Section 7.12 requires 75% vote of each class (if two-class) plus Declarant/Builder approval. Other amendments per Act (not fully detailed). (Sections 2.03 and 7.12)

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