Olivette

Key facts from Olivette's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Community under North Carolina Planned Community Act (Section 1.46: "Planned Community Act" or)

Developer / declarant

Olivette Development, LLC, a North Carolina limited liability company (First paragraph of Declaration (page 3):)

Governing law

North Carolina Planned Community Act (Chapter 47F of the North Carolina General Statutes) (Section 1.46)

Assessments & dues

General Assessments, District Assessments, Special Assessments, Specific Assessments as described in Article 8. Budget prepared by Board. (Sections 8.1, 8.2, 8.3, 8.5, 8.6)

Special assessments

Yes; allowed under Section 8.5. (Section 8.5)

Collections & liens

Yes; Community Association may file liens for non-payment of assessments and enforce them. (Section 4.3(b): "filing liens in the Pub)

Reserves & fees

Mentioned as "any reasonable reserve" but not detailed. (Section 1.10: Common Expenses include "a)

Pets

Not explicitly stated; but farm animals are allowed under Agricultural Operations. (Section 1.3: Agricultural Operations inc)

Leasing & rentals

Yes; leasehold interests with initial term of at least 20 years allowed, and lessee may become Leasehold Owner with assigned rights. (Section 1.31: "Leasehold Owner": The les)

Architectural approval

Yes; OARB (Olivette Architectural Review Board) must approve all Improvements. (Section 9.1 and Section 9.2 define OARB;)

Home business

Not specifically addressed; but commercial uses are allowed on some Lots. (No explicit home business restriction fo)

Signs & flags

Subject to OARB approval (included in Improvements definition). (Section 1.30: Improvements include "sign)

Maintenance

Association maintains Area of Common Responsibility (Common Area, Private Streets, entry features, etc.). Owners maintain their Lots and interior. Cost of Limited Common Area assessed to benefited Lots. (Article 5 generally; Section 2.3 (Limite)

Insurance

Blanket property insurance on Common Area improvements (min 80% replacement cost), commercial general liability, workers comp, D&O, fidelity (Section 6.1(a))

Use restrictions

Not explicitly defined but Agricultural Operations with noise, odor, visual impacts are acknowledged as permitted. (Section 2.9: "Agricultural Operations ma)

Voting & meetings

Three classes: Class A (all Owners except Class B and C), Class B (Declarant), Class C (Conservation Trust and Cultural Center). Class A votes allocated per Lot based on formula in Exhibit C. Voting Delegates may be elected per District. Cl (Section 3.2 (a), (b), (c); Section 3.4)

Amendments

Not detailed in this excerpt; Article 14 (General Provisions) may contain amendment procedure but not included. (Not extracted; cross-reference to Articl)

Amenities

Private Amenities (spa, wellness center, farmer's market, arts-school), Cultural Center, trails, Open Spaces, Lakes, Recycling Center. (Section 1.47 Private Amenity; Section 1.)

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