The Point at Lake Jeanette (LAUREL Cove at the Point)

Key facts from The Point at Lake Jeanette (LAUREL Cove at the Point)'s documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

single-family residential subdivision with possible condominium units (Article I, Section 5 (Dwelling definitio)

Governing law

North Carolina (implied by location and references to state law) (Recitals: 'State of North Carolina'; Art)

Assessments & dues

Maximum initial: $480 per lot per year ($40/month) (Article IV, Section 3(a))

Special assessments

Allowed with assent of 2/3 of each class of Section Members voting in person or by proxy (Article IV, Section 4)

Collections & liens

Assessments create a continuing lien on the lot; can be foreclosed like deed of trust under North Carolina law; plus personal obligation of owner (Article IV, Sections 1 and 8)

Reserves & fees

Interest at 12% per annum from due date (Article IV, Section 8)

Pets

Dogs, cats, or other household pets allowed, not for commercial purposes, must comply with local laws (Article VIII, Section 3)

Leasing & rentals

Yes, with written lease of at least one year and prior Board approval (Article VIII, Section 1(c))

Parking & vehicles

Only on streets bounded by curb and gutter, subject to Association regulations (Article VII, Section 2)

Fences

Fences constructed by Declarant as initial improvements are maintained by Section Association; Owner maintains own fences (unless installed by Declarant). 5' fence easement on specific lots. (Article V, Section 3; Article I, Section)

Architectural approval

Yes, for any exterior alterations, improvements, repairs, change of paint colors, plantings, excavations, etc. after initial occupancy (Article VI, Section 3(a))

Maintenance

Owner (part of dwelling maintenance) (Article V, Section 3 (Owner maintenance )

Use restrictions

Yes, single-family residential purposes; limited to Owner, immediate family, approved tenants, or other Board-approved occupancies (Article VIII, Section 1)

Voting & meetings

Class A (non-Declarant owners): 1 vote per lot; Class B (Declarant): 4 votes per lot until conversion (Article III, Section 2)

Amendments

First 20 years: 90% vote of lot owners; thereafter: 75% vote; certain amendments require government approval for wet detention ponds; no amendment can alter tax/assessment obligations or lien (Article XII, Section 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.