Water Oak Residential Community

Key facts from Water Oak Residential Community's documents

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

Community type

single-family residential subdivision (Art. I 1.01.10 (Dwelling definition) and)

Units / lots

Same as total lots (each lot is a single-family dwelling) (Art. I §1.01.10 and Art. III §3.03)

Governing law

North Carolina non-stock, not-for-profit corporation laws (Art. III §3.01)

Assessments & dues

Initially anticipated (but not guaranteed) $600.00 per year (Art. V §5.03)

Special assessments

Yes, for capital improvements; may require 2/3 vote of members if >20% of annual Maintenance Assessment or for construction (not reconstruction) (Art. V §5.07)

Collections & liens

Lien on lot for unpaid assessments, with power of sale; may be foreclosed like a mortgage under NC law; lien subordinate to first mortgages (unless prior lien filed) (Art. V §5.08, §5.12)

Reserves & fees

Required – not less than reasonable requirements of existing or proposed first mortgage lenders, or if less, NC law requirements (Art. V §5.02)

Parking & vehicles

Prohibited – no oversized, commercial or unlicensed vehicles (Art. IX §9.17 (actually 9.17? see text: )

Fences

Subject to ARC approval; protective screening and fences regulated (Art. IX §9.02 and Art. VII §7.03)

Architectural approval

Yes – Architectural Standards Committee approval required for any exterior addition, modification, alteration, clearing, landscaping, etc. (Art. VII §7.03)

Home business

Prohibited – no commercial or professional activity on property (Art. IX §9.16)

Signs & flags

Restricted – no advertising or signs without approval (Art. IX §9.01)

Setbacks / home size

Mentioned in Table of Contents (Section 9.20 Setbacks) but text not provided (Table of Contents – Art. IX §9.20)

Maintenance

Owner responsibility (on Lot) (Art. VI §6.02)

Insurance

Association shall carry casualty, liability, and other insurance on Association Property (Art. VIII §8.01 (text not provided but r)

Use restrictions

Yes – no lot shall be used except for residential purposes (Art. IX §9.17)

Voting & meetings

Class A: 1 vote per lot owned; Class B (Developer): 15 votes per lot owned. Total initial votes: 1,460 (Art. III §3.02.1 and §3.03)

Amendments

Amendments require vote of Members as provided in Declaration; Developer may add Additional Property during Period of Developer Control. After Period, requires Association approval and amendment recording. (Art. XI §11.07, Art. II §2.02)

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