Addison Pond Community Association Inc

Key facts from Addison Pond Community Association Inc's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (community association) (Name: Addison Pond Community Association)

Developer / declarant

Toll Southeast LP Company, Inc., a Delaware corporation (Preamble)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Article I, Section 1)

Assessments & dues

$660.00 per Class A Lot through December 31, 2019; thereafter may increase up to 10% per year without member vote (Article V Section 3 and Section 4A)

Special assessments

Approved by Declarant (during Declarant Control Period) and by at least 2/3 of Class A Members present and voting; quorum 60% of each class; adjourned meeting quorum half (Article V Section 5)

Collections & liens

Unpaid assessments (30+ days) become lien on Lot; may be foreclosed as per Act (N.C.G.S. §47F-3-116). Personal obligation also. Subordinate to first mortgage/deed of trust. Foreclosure extinguishes prior assessment liens. (Article V Sections 7 and 8)

Pets

Yes (Article X Section 4)

Leasing & rentals

Allowed (implied by references to tenants and rental units). No explicit prohibition. Leased dwelling votes limited to 49% weight. (Article III Section 4; Article IV Sectio)

Architectural approval

Yes, for any building, fence, sign, wall, other structure, addition, alteration, or major landscaping. Approval required before applying for building permit or commencing work. (Article IX)

Home business

Allowed if: Board approval, governmental licenses, not apparent outside unit, no solicitation, no nuisance, no excessive traffic (Article X Section 1(b))

Signs & flags

Document regulates or prohibits display of US flag and NC flag (as stated on cover page). Specific rules in Section 10 of Article X not included in excerpt. (First page cover statement; Article X Ta)

Use restrictions

All lots shall be used for residential purposes only; trade or business prohibited except with conditions (Article X Section 1)

Voting & meetings

Two classes: Class A – each Lot owner (1 vote per Lot); Class B – Declarant (9 votes per Lot owned). After Declarant Control Period ends, Class B becomes 1 vote per Lot. Vacant/leased dwellings' owners (Class A) limited to 49% weight on mat (Article III Sections 2 and 4)

Amendments

Referenced in Article XI Section 2 but text not provided; outline indicates term and amendment provisions. (Article XI Section 2 (table of contents))

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