The Fairways Homeowners Association, Inc.

Key facts from The Fairways Homeowners Association, Inc.'s documents

Reflects the 1990 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Fairways Homeowners Association at Bay Point, Inc. (Header of DOC 24657)

Units / lots

Not more than 15 lots (Recital: 'contain not more than fifteen )

Developer / declarant

NorthRiver Properties, a partnership composed of NorthRiver, Inc. and Dumac, Inc. (Opening paragraph)

Assessments & dues

Board of Directors prepares budget and determines amount needed; due dates established by Directors. (Article IV Section 6)

Special assessments

May levy special assessment for capital improvements with assent of two-thirds (2/3) of all votes entitled to be cast by Members. (Article IV Section 3)

Collections & liens

Unpaid assessments become a continuing lien on the Lot; Association may foreclose by power of sale or judicial action. Notice and sale procedures specified. (Article IV Sections 1 and 7)

Reserves & fees

Budget includes 'an amount for a reserve fund for replacements'. (Article IV Section 6)

Pets

Not more than a total of three (3) dogs, cats or other household pets may be kept, provided not kept for commercial purpose. (Article VII Section 6)

Leasing & rentals

Units may be leased for a term of not less than six (6) months; must be by written instrument and a conformed copy forwarded to Management Agent. (Article VII Section 2)

Fences

Only Declarant, Board, or authorized agent may construct fences, walls, or other structures on Common Area. Owners may construct on their Lot only with Board approval. (Article V)

Architectural approval

Owners must obtain written authorization from Board before commencing any additional construction on their Lot. Plans and specifications must be approved. (Article V)

Insurance

Association must obtain public liability: not less than $500,000 for bodily injury, not less than $100,000 for property damage. Also may obtain fidelity bonds and D&O. (Article IV Section 11)

Use restrictions

All Units shall be used for private, single-family residential purposes. (Article VII Section 1)

Voting & meetings

Class A: each Owner (including Declarant) entitled to one vote per platted Lot owned; Class B: Declarant only, one vote per proposed Lot not yet platted, until sold 12 Lots or Sept 15, 1993. (Article III Sections 1 and 2)

Amendments

May be amended by instrument signed by 75% of Class A and Class B Members, provided approved in writing by NorthRiver, Inc. Must be recorded. (Article IX Section 6)

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