Beacon Villas at Corolla Light

Key facts from Beacon Villas at Corolla Light's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Community (Recital B, Article 1)

Units / lots

Initially 4 lots in Submitted Property; Declarant may create up to 28 additional lots in Additional Property (total up to 32 lots) (Recital A, Recital C)

Developer / declarant

FLORIDA OBX, LLC (First page, signature block)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Recital B)

Assessments & dues

Periodic assessment determined by Executive Board in annual budget; special assessments by Board resolution for capital improvements (Section 7.3, Section 7.4)

Special assessments

Allowed for capital improvements, construction, repair, or replacement of common elements, or other purposes per Board resolution; due date fixed in resolution (Section 7.4)

Collections & liens

Association has lien for unpaid assessments; may foreclose via trustee under Section 47F-3-116 and Article 2A of NC Gen. Stat.; Association may bid at foreclosure sale (Section 7.2, Section 7.2.1, Section 7.2.)

Reserves & fees

Required by Currituck County; minimum balance equal to 10% of construction costs of common areas, features, and private infrastructure; Declarant responsible for shortfall if assessments insufficient (Section 5.4.12)

Pets

Yes; dogs, cats or other household pets allowed (not for commercial breeding or commercial purposes); must not create a nuisance (Section 11.6.1)

Leasing & rentals

Yes; lease, assignment, or sublease must be for entire Unit unless Declarant or Association consents to partial leasing (Section 11.13, 11.13.1)

Architectural approval

Yes; no building, fence, wall, other structure, or exterior addition/change (including antennas, awnings, reflective material) without prior written approval (Section 10.1)

Home business

Home office allowed for Owner only; employees, customers, or clients may not meet or work in Unit on a regular basis (Section 11.1)

Maintenance

Association (exterior of units includes roof) (Section 8.1 (explicitly includes roofs))

Use restrictions

Yes; no lot shall be used except for single family residential purposes (Section 11.1)

Voting & meetings

Class A (Owners): 1 vote per lot; Class B (Declarant): 3 votes per lot owned until Turnover (Section 2.2.2, Section 2.2.2.2)

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