Exton Park

What Exton Park's governing documents say

Exton Park is a planned community in Wilmington, NC, governed by the North Carolina Planned Community Act. This declaration establishes the Exton Park Owners' Association and sets rules for lot owners, covering property rights, assessments, insurance, and developer rights. It applies to single-family homes or townhomes on individually owned lots, with common elements maintained by the association.

• What you own & maintain: You own your lot and the dwelling on it. The association maintains common elements (e.g., private roads, stormwater ponds, open space) and limited common elements (e.g., exterior of dwellings, driveways, yards). You must maintain your lot and any easement areas, except those maintained by the association or utilities.
• Assessments & fees: Each lot owner must pay annual assessments, special assessments, insurance assessments, ad valorem tax assessments, and working capital assessments. Assessments are a lien on the lot and a personal obligation of the owner when due. The annual budget is proposed by the board and ratified unless a majority of owners reject it.
• Developer rights & transition: The developer (Declarant) retains special rights, including control of the architectural committee, the ability to annex additional property, and the right to amend the declaration without owner approval during the Declarant Control Period. The Declarant Control Period ends when Class A votes equal Class B votes, on December 31, 2013, or upon voluntary surrender.
• Insurance: The association must maintain casualty and liability insurance on common elements, with at least $1,000,000 liability coverage. Insurance proceeds are held in trust for repairs or distribution. Owners may be required to obtain individual policies if 67% of members approve.
• Architectural control: All architectural duties are exercised by the Declarant or its designee as long as the Declarant owns any lot. The declaration does not specify detailed architectural standards or an application process.
• What this document doesn't cover: This declaration does not include specific rules on leasing, pets, parking, age restrictions, or rental caps. Those may be addressed in separate association rules or amendments.

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.