Perry Creek Commons

Key facts from Perry Creek Commons's documents

Reflects the 2001 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (HOA) – Nonprofit corporation (Articles of Incorporation Article I, Dec)

Governing law

Chapter 55A of the North Carolina General Statutes (Articles of Incorporation Preamble)

Assessments & dues

Board of Directors sets annual assessment at least 30 days in advance, considering current costs, debts, and reserves. Cannot exceed CPI‑U index increase (max 12% per year) without member vote. (Declaration Article VI Section 3(b)–(d))

Special assessments

For capital improvements; requires affirmative vote of two‑thirds (2/3) of each class of Members voting in person or by proxy at a duly called meeting. (Declaration Article VI Section 4)

Collections & liens

Annual and special assessments are a continuing lien on the Lot. Association may foreclose the lien or bring personal action against the owner. Lien is subordinate to first mortgage and ad valorem taxes. (Declaration Article VI Sections 1, 8, 9)

Leasing & rentals

Members may delegate use of Common Area to tenants, contract purchasers who reside on the Property. (Declaration Article V Section 2)

Use restrictions

Implied; all lots, limited common area, and common area subject to restrictions: no immoral, improper, offensive, or unlawful use; all laws must be observed. (Declaration Article VII Section 2(a))

Voting & meetings

Two classes: Class A (all owners except Declarant) – one vote per Lot. Class B (Declarant) – three votes per Lot owned. Class B converts to Class A when Class A votes equal Class B votes or on January 1, 2007, whichever earlier. (Declaration Article IV Section 1)

Amenities

Pool facility mentioned; also recreational areas, private streets. Amenities include facilities on Common Area for use, benefit, enjoyment of Members. (Declaration Article I Section 1, Article)

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