Graystone II Homeowners Association

Key facts from Graystone II Homeowners Association's documents

Reflects the 1982 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned_unit_development (Article XIV Section 1: This Declaration )

Legal name

Graystone II Homeowners Association

Developer / declarant

Academy Rental Company, Inc. (Declarant definition (Article I Section )

Governing law

South Carolina Code of Laws (reference to Section 15-48-10 et seq. for arbitration) (Article VIII Section 8)

Assessments & dues

Board of Directors fixes amount at least 30 days in advance; annual assessments paid in equal monthly installments; written notice sent to owners (Declaration Article VI Section 7; Bylaws)

Special assessments

Requires assent of two-thirds (2/3) of votes of each class voting in person or by proxy at a meeting called for that purpose with 30-60 days notice (Declaration Article VI Section 4)

Collections & liens

All assessments are a continuing lien on the lot; Association may foreclose or bring personal action against owner; costs and attorney's fees added; no waiver by non-use (Declaration Article VI Sections 1,8)

Reserves & fees

Not explicitly mentioned, but assessments may include reserves (Article VI Section 3(d) criteria for establishing annual assessment includes reserves for future needs) (Declaration Article VI Section 3(d))

Leasing & rentals

Yes, but not for transient or hotel purposes; lease must be in writing and provide that terms and occupancy are subject to Declaration, Conditions and Restrictions, and Bylaws; failure to comply is default (Declaration Article XIII Section 4)

Fences

Any fence requires prior approval of Association (Article VII Section 2) and also architectural approval (Article IX) (Declaration Article VII Section 2, Artic)

Architectural approval

Approval or disapproval within 30 days after submission; if no action, approval is deemed given; plans are not deemed received if they contain erroneous data or fail to present accurate information (Declaration Article IX Section 1)

Maintenance

Association maintains common areas and exterior of residences (except glass, surfaces, doors) including roofs, gutters, downspouts, exterior building surfaces, trees, shrubs, grass, walks; owner maintains interior, fenced/enclosed yard port (Declaration Article VII Sections 1,2,3)

Insurance

Association obtains group or blanket hazard insurance equal to full replacement value with Replacement Cost Endorsement; also broad form public liability insurance of at least $1,000,000 per occurrence (Declaration Article XII Sections 1(1), 1)

Use restrictions

All buildings shall be used as a single-family residence and for no other purpose; residence may not be subdivided (Declaration Article X Section 2(a))

Amendments

First 20 years: instrument signed by owners of at least 90% of lots; thereafter: 75% of lots; Board may correct drafting errors without owner consent; all amendments recorded in Greenville County RMC, effective upon recordation (Declaration Article XIII Section 3)

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