Haylofts at Heritage Park

Key facts from Haylofts at Heritage Park's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title and Witnesseth)

Legal name

The Haylofts at Heritage Park Condominium Owners Association, Inc. (Article I, Section 1.4)

Units / lots

33 initial units plus up to 132 additional units for a maximum of 165 units (Article II 2.3 and Article III 3.2)

Developer / declarant

Southpark Homes, LLC, a North Carolina limited liability company (Opening paragraph)

Governing law

North Carolina Condominium Act, Chapter 47C, North Carolina General Statutes (Article I, Section 1.1)

Assessments & dues

Board establishes annual budget; budget is deemed ratified unless 67% of votes reject it. (Article VI 6.8(a))

Special assessments

Yes, for construction, reconstruction, repair or replacement of Common Elements; requires assent of 2/3 of allocated interests voting at a meeting. (Article VI 6.6)

Collections & liens

Association has a lien on each Unit for assessments, interest, late charges, fines, costs, and attorney's fees. Lien may be foreclosed like real estate deeds of trust under power of sale or judicial foreclosure. Lien subordinate to first mo (Article VI 6.12)

Reserves & fees

Yes, Capital Improvement Fund established for replacement of and capital improvements to Common Elements. Amount set by Board. Interest may be used for operation. (Article VI 6.9)

Pets

Only domestic pets defined as dogs, cats, or birds. No other animals, livestock, or poultry. (Article V 5.8)

Leasing & rentals

Yes, with restrictions. (Article V 5.7)

Parking & vehicles

Prohibited ('shall not be parked or stored within any street right-of-way') (Article V 5.10)

Fences

Location or construction of fences requires prior written consent of Board. (Article V 5.11(a))

Architectural approval

Yes, for alterations to Common Elements, exterior improvements, awnings, shades, etc. Also for certain alterations to Units that impair structural integrity? See 5.5. Prior written consent of Board required for many exterior changes. (Article V 5.6, 5.11)

Home business

Permitted if (i) no signage visible from exterior, (ii) no regular visits from public or commercial vehicles, (iii) mail, shipping, trash, storage do not unreasonably burden other Unit Owners. (Article V 5.3(a))

Maintenance

Association responsible for periodic painting and roof replacement of Limited Common Area Garages. General roof? Not explicitly stated but roof is part of Common Elements likely maintained by Association. (Article VIII 8.2(c))

Insurance

Casualty insurance on Property at 100% full insurable value on replacement cost basis. Also public liability insurance of at least $1,000,000 per occurrence. Fidelity coverage at least 1.5 times estimated annual operating expenses or three (Article IX 9.1, 9.2, 9.3)

Use restrictions

Units shall be occupied and used for single-family residential purposes, including home professional uses meeting conditions (no exterior signage, no regular commercial vehicle visits, no unreasonable burden). (Article V 5.3(a))

Voting & meetings

One vote per Unit owned. (Article II 2.6)

Amendments

Amendment by execution of instrument with same formalities as deed, recorded in Forsyth County. Must be consented to by Unit Owners of 67% of allocated interests (unless greater specified). Also first mortgagee consent may be required for c (Article XIV 14.1, 14.3)

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