Anniston Truist

Key facts from Anniston Truist's documents

Community type

HOA (Adalyn Park Homeowners’ Association, Inc., a North Carolina nonprofit corporation) (Statement of Purpose (Page 3 of 62); Art)

Governing law

North Carolina Planned Community Act (N.C.G.S. Chapter 47F) (Statement of Purpose (Page 3 of 62))

Assessments & dues

Maximum $950 per year for 2025, payable semi-annually $475 (Article V, Section 6); Lots owned by Declarant/Builder exempt. Increases: up to 25% per year by Board without membership vote; above 25% requires 2/3 member vote and Declarant cons (Article V, Section 6 (Page 25 of 62))

Special assessments

For capital improvements on Common Area or roadways; requires Declarant approval (if Declarant owns any part) and 2/3 vote of Lots; Declarant/Builder not obligated to pay on their Lots without Declarant's written approval. (Article V, Section 7 (Pages 25-26 of 62))

Collections & liens

Unpaid assessments (including Capital Contribution, Annual, Special, Supplemental Annual, Special Individual) become a lien when claim of lien filed per N.C.G.S. 47F-3-116; personal obligation of Owner at time assessment fell due. (Article V, Section 1 (Page 20 of 62); Ar)

Reserves & fees

Association shall establish and maintain a Reserve Fund equal to 5% of the sum of expenses described in Article V, Section 2, for unanticipated expenses and periodic maintenance/repair/replacement. (Article V, Section 2(b) (Page 22 of 62))

Signs & flags

Regulated: document regulates display of US flag and State of NC flag per N.C.G.S. 47F-3-121(1); also regulates political signs per N.C.G.S. 47F-3-121(2). Specific rules not in excerpt. (Notice on front page (Page 1 of 62))

Use restrictions

Yes; Lot defined for residential purposes, single-family dwelling (Article I, Section 21 & 30) (Article I, Section 21 (Page 7 of 62); Ar)

Voting & meetings

Two classes: Class A (Owners except Declarant/Builder) – 1 vote per Lot; Class B (Declarant and Builder) – 3 votes per Lot owned. Class B ceases upon no ownership or Declarant's election or 10 years from date of Declaration. (Article IV, Section 2 (Pages 14-15 of 62)

Amendments

During Development Period, Declarant's prior written consent required for any amendment to Declaration or Supplemental Declaration (Article III, Section 4). Declarant may amend to remove property owned by Declarant or Association (Article I (Article III, Section 4 (Page 12 of 62); )

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