Dollar

What Dollar's governing documents say

Dollar Properties Seven Park is a commercial subdivision in North Topsail Beach, NC, governed by a homeowners' association (HOA). This document is the Declaration of Covenants, Conditions & Restrictions (CC&Rs) for the property, which binds all lot owners. The community is intended for business or commercial use, not residential.

• Land use & building type: Lots 1A, 1B, and 2 must be used for business or commercial purposes. Residential use is not allowed.
• What you own & maintain: You own your lot and any improvements on it. The association owns and maintains the common areas (private streets, stormwater facilities, detention ponds, etc.). Each owner must keep their lot safe, clean, and orderly.
• Assessments & fees: Annual assessments are levied per lot, initially based on $100 per 0.1 acre owned (e.g., 0.9 acres = $900/year). The board can increase assessments up to 8% per year without a vote; increases over 8% require a majority vote. Special assessments for capital improvements require a majority vote. Assessments are due by January 31 each year.
• Architectural review: No improvements, landscaping, grading, or exterior alterations may be made without prior written approval from the Declarant (during developer control) or an Architectural Control Committee (ACC) thereafter. Plans must be submitted; if no response within 30 days, approval is deemed given. The ACC may adopt design guidelines.
• Leasing & rentals: Leases must be in writing and subject to the CC&Rs. The lot owner remains responsible for all assessments. There are no other restrictions on leasing.
• Stormwater & environmental restrictions: Maximum built-upon area (structures, pavement, gravel, etc.) is 65,702 sq ft for Lots 1A+1B combined, and 67,734 sq ft for Lot 2. All runoff must drain into the permitted stormwater system. These covenants cannot be altered without consent from the NC Division of Water Quality.
• Voting & membership: Each lot owner is a voting member. Votes are allocated per lot based on acreage (e.g., Lot 1A = 1.0 vote, Lot 1C = 0.5 vote). The Declarant controlled the board until 50% of lots were sold to non-developer owners or until December 31, 2008, whichever came first.
• What this document doesn't cover: This document does not address residential use, age restrictions, pet policies, parking rules, or amenities. It is a commercial subdivision CC&R.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.