Fair Oaks Property Owners Association, Inc.

Key facts from Fair Oaks Property Owners Association, Inc.'s documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (single-family residential subdivision) (Recitals: 'develop and maintain Fair Oak)

Units / lots

89 (Total Planned Lots) (Articles X.C: 'the term Total Planned Lo)

Developer / declarant

Centex Homes, a Nevada general partnership (Amendment Paragraph 1; Declaration openi)

Governing law

North Carolina Planned Community Act (Chapter 47F) and Non-Profit Corporation Act (Chapter 55A) (Articles IV.A; Bylaws Section 1)

Assessments & dues

Board adopts a budget for Operating Expenses during November of the preceding year; thereafter assessments are determined. Copy of budget furnished to Members. (Bylaws 11.2)

Special assessments

Referenced for deficits; details in Protective Covenants. (Bylaws 11.5)

Collections & liens

Association may file Claims of Lien; schedule of fees: $100 for initial lien, $50 for subsequent, $50 for satisfaction, plus recording costs and hourly attorney fees. (Bylaws 8.1–8.4)

Reserves & fees

$25 late charge for late assessments (Bylaws Section 8)

Architectural approval

Yes — Architectural Control Committee (Committee) exists and approves Improvements (Declaration Art. X (referenced); definit)

Use restrictions

Yes — property is developed as a planned residential community (Declaration WHEREAS: 'develop and mainta)

Voting & meetings

Each record owner of a Lot or Tract is a Member. Voting rights are defined in the Protective Covenants (not fully included in provided text). One vote per Director in board elections. (Articles V; Bylaws 5.2)

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