Villages of Fox Run Owners Association Inc

What Villages of Fox Run Owners Association Inc's governing documents say

This document is a 2004 amendment to the master declaration for The Villages of Fox Run, a North Carolina community with both single-family and townhome lots. It amends only Article IV, Section 2 (Purpose of Assessments) and does not contain the full rules. The amendment adds specific details about how assessments for townhome lots must be spent and includes a stormwater escrow requirement.

• Purpose of assessments: Assessments may be used for recreation, health, safety, welfare, maintenance of open space and common areas (stormwater facilities, lakes, private drives, recreation facilities), reserves for capital improvements, hazard and liability insurance (including D&O), and local taxes on common areas. Townhome assessments specifically cover exterior maintenance, landscape maintenance, street lighting, general liability insurance, termite inspection/treatment, and other matters deemed necessary by the Board.
• Townhome-specific assessment uses: For townhome lots, the assessment must be used for exterior maintenance of the townhomes, landscape maintenance, Progress Energy street lighting, general liability insurance, and termite inspection/treatment, plus other matters the Board deems necessary.
• Stormwater escrow fund: Assessments must include payments into a stormwater escrow fund to maintain stormwater detention basins, grassed swales, and drainage easements serving more than one lot, as described in a 2001 operations manual.
• Amendment approval: This amendment was approved by at least 67% of the membership votes, as required by the declaration. It was signed by the developer, builders, and numerous lot owners.
• What this document doesn't cover: This is a single amendment to one section of the declaration. It does not contain pet rules, leasing restrictions, architectural guidelines, age restrictions, parking rules, or any other operational rules for the community. Those are in the full declaration (recorded separately) not provided here.

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.