Lexington Park

Key facts from Lexington Park's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA – Lexington Park Property Owners Association, Inc. (Section 1.5)

Developer / declarant

CLM Associates, LLC, a North Carolina limited liability company, and Presidential Investors, Inc., a North Carolina corporation (Opening paragraph)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Section 1.23)

Assessments & dues

Board of Directors fixes monthly Regular Assessment at beginning of each calendar year; each Lot's share based on proportion to total number of Lots (Sections 5.5.1, 5.5.4)

Special assessments

Board may levy Special Assessments to construct, structurally alter, or replace Common Area improvements; capital improvements exceeding $25,000 per item or $50,000 per year require prior consent of two-thirds of each Class of Members votin (Section 5.2)

Collections & liens

Unpaid assessments become a continuing lien on the Lot; lien may be foreclosed like a mortgage; lien priority is subject to real estate tax liens and first mortgages recorded before the lien is docketed; Association may recover attorneys' f (Sections 5.10, 5.11)

Reserves & fees

Greater of $20.00 or 20% of delinquent amount, or such other amount determined by Association from time to time (Section 5.16)

Pets

Yes, but limited to two dogs, two cats, or one of each, or two other household pets; no commercial breeding; must be kept on hand leash outside unit; owner must clean up waste; Board may regulate size, number, type (Section 10.7)

Parking & vehicles

Special Vehicles (trailers, boats, RVs, trucks over 3/4 ton, marked vehicles, etc.) must be parked in garage with door closed or screened from view; operative vehicles other than Special Vehicles may be parked in driveway or garage; no more (Section 10.4)

Architectural approval

Yes, for any exterior building, fence, mailbox, driveway, or other improvement, and for any exterior addition or alteration (including color change); plans must be approved in writing by Board of Directors or Architectural Control Committee (Section 9.1)

Home business

Owner may use portion of dwelling unit for office or studio (other than music/dance studio) provided activities do not interfere with others' quiet enjoyment and do not increase normal traffic flow (Section 10.2)

Signs & flags

Standard "For Sale" or "For Rent" sign in window of dwelling unit only; directional signs and signs concerning Common Area use allowed; other signs require prior written consent of Association; American flag allowed (Sections 10.6, 10.11)

Setbacks / home size

Front: 25 feet on cul-de-sac streets, 30 feet on other residential streets; Rear: 30 feet; Side: 15 feet (Section 9.4)

Use restrictions

Lots shall be used only for residential purposes; exception for Declarant's construction, sales and management activities (Section 10.2)

Voting & meetings

Class A Members (Lot owners with dwelling) have one vote per Lot; Class B Member (Declarant) has voting rights during Development Period; Class A Members cannot vote until expiration of Development Period (Sections 4.5.1, 4.5.2, 4.5.3)

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