Risley Homes

Key facts from Risley Homes's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

RISLEY HOMES OWNERS ASSOCIATION, INC.

Units / lots

Initially 4 (Lots 1-4), plus potential future phases (WHEREAS clauses and Article I, Section 7)

Developer / declarant

8819 BEACH HOUSE PROPERTIES, LLC (Preamble)

Governing law

N.C.G.S. §47F – North Carolina Planned Communities Act (Article I, Section 8)

Assessments & dues

Not fixed; determined by Board at least 30 days before each annual period (Article IV, Section 3)

Special assessments

For capital improvements: requires assent of 2/3 of each class of members. Special assessment for insurance is levied annually as part of annual assessment. (Article IV, Sections 4 and 5)

Collections & liens

Assessments are a continuing lien on the lot; personal obligation of owner at time due. Foreclosure of deed of trust extinguishes lien for past-due assessments but not future. Association may foreclose lien or bring action at law. (Article IV, Sections 1, 8, 10)

Reserves & fees

Not explicitly a fee; interest at 14% per annum after 30 days past due (Article IV, Section 8)

Pets

Yes, dogs, cats, other household pets; not for commercial purposes (Article V, Section 5)

Leasing & rentals

Yes, subject to Association rules (Article V, Section 15)

Parking & vehicles

Prohibited vehicles: dune buggies, campers, trailers, RVs, cars on cinder blocks, tractor-trailers. Boats allowed under 24 ft on trailer in designated area. No mechanical work except washing/cleaning. (Article V, Section 8)

Fences

Max 5 ft height; no chain link or wire; must be behind front line of dwelling (closer to rear); requires Declarant approval (Article V, Section 4)

Architectural approval

Yes, for any building, fence, wall, structure, exterior addition/alteration, landscaping (including sod/seed) (Article V, Section 2)

Home business

Prohibited (as noxious/offensive activity; no commercial use implied) (Article V, Section 8 (nuisance clause))

Maintenance

Owners maintain their lots and improvements; Association maintains common area and entrance (including drainage easements) (Article V, Section 14; Bylaws Article II)

Insurance

Common property insured for fire/hazards at 100% replacement cost; public liability insurance; optional officers' and directors' liability, fidelity bonds, casualty/hazard insurance (Article IV, Section 5)

Use restrictions

Yes, single-family residential except lots owned by HOA for amenities (Article V, Section 1)

Voting & meetings

Class A (1 vote per lot, one vote per lot regardless of multiple owners) and Class B (Declarant: 3 votes per lot until 90% lots conveyed or June 30, 2012) (Article III, Section 2)

Amendments

Before December 31, 2010: Declarant may amend at its discretion, but not impair lot owners' property values. After that: amendment requires vote of 2/3 of members. The last paragraph of Article IV Section 1 (Declarant exemption from assessm (Article VI)

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