The Oaks at Murray Farm

What The Oaks at Murray Farm's governing documents say

This is a Declaration of Reciprocal Easements, Restrictions and Covenants for The Oaks at Murray Farm, a planned residential community in Wilmington, NC. It primarily governs the shared access and utility easement area between two tracts (Tract A and Tract B) and outlines each owner's maintenance obligations. This document is not a full set of HOA rules for homeowners; it is a developer-level agreement between the two lot owners (Murray Farm Developers, LLC and Murray Farm Rentals, LLC) that will later be assigned to a homeowners association.

• What this document covers: This declaration establishes reciprocal access and utility easements over a shared 'Access and Utility Easement Area' for the benefit of both tracts. It also sets maintenance responsibilities for the common area (roads, sidewalks, drainage, landscaping) and requires each owner to maintain insurance on their property.
• What this document doesn't cover: This document does not contain rules for homeowners (e.g., pet limits, leasing restrictions, architectural standards, or noise). Those rules will be created later by the homeowners association or separate covenants for the residential lots.
• Maintenance obligations: Each owner must maintain, repair, and replace the portions of the common area and drainage facilities located within their respective lot. This includes sidewalks, parking, road surfaces, lighting, landscaping, and signage. If an owner fails to perform maintenance after 30 days' notice, the other owner may step in and charge the cost to the non-performing owner.
• Insurance requirements: Each owner must maintain casualty insurance for full replacement cost of improvements on their lot and commercial general liability insurance with combined single limits of at least $1,000,000 per occurrence and $500,000 for property damage.
• Future development & assignment: Murray Farm Developers intends to develop Tract B as a planned residential community (single-family homes and townhomes) and may assign its rights and obligations under this declaration to the future homeowners association. Each owner may also subject their lot to additional covenants without the other owner's approval, as long as those covenants don't materially restrict the shared easement rights.
• Stormwater compliance: The declaration allocates built-upon area (BUA) between the tracts: Tract A is allocated 365,505 square feet; the remainder is allocated to Tract B. These stormwater covenants run with the land and cannot be altered without the state's consent.

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.