Magnolia Walk Homeowners Association Inc

Key facts from Magnolia Walk Homeowners Association Inc's documents

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

Community type

Covenant / Planned Community

Legal name

Magnolia Walk Homeowners Association

Developer / declarant

Pulte Home Corporation (Preamble)

Governing law

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

Assessments & dues

$720.00 per year until December 31 of the year of conveyance of the first Lot to an Owner other than Declarant or Affiliate (Article IV, Section 3)

Special assessments

Special Assessments for capital improvements; after Declarant's Development Period, requires affirmative assent of at least two-thirds of votes of each class of Members represented at a meeting; before expiration, special assessments exceed (Article IV, Section 7)

Collections & liens

Unpaid assessments for 30+ days become a charge on the Lot and a continuing lien; may be foreclosed by Association; first mortgage holder or purchaser at foreclosure not liable for prior assessments (Article IV, Section 4)

Reserves & fees

Late charges and interest are imposed on unpaid assessments (Article IV, Section 4)

Pets

Dogs, cats, or other usual and common household pets may be kept, but no animals, livestock, or poultry raised, bred, or kept; no commercial purpose (Article VI, Section 9)

Leasing & rentals

Lots may be leased for residential purposes (Article VI, Section 7)

Parking & vehicles

Only automobiles, vans constructed as private passenger vehicles with permanent rear seats and side windows, passenger trucks and other private passenger vehicles may be parked overnight without Board consent, unless in enclosed garage (Article VI, Section 5(a))

Fences

No fence or fencing type barrier of any kind shall be placed, erected, allowed, or maintained upon any Lot without prior written consent of ARC; Declarant may erect fencing on model home lots; Association may erect fencing on Common Area (Article VI, Section 19)

Architectural approval

No exterior construction, alteration, addition, or erection shall be commenced without prior written approval of Architectural Review Committee (Article VI, Section 3)

Solar & roof

No solar energy collector panels or attendant hardware or other energy conservation equipment shall be constructed or installed unless they are an integral and harmonious part of the architectural design, as determined in sole discretion of (Article VI, Section 24)

Home business

Home businesses allowed only if operated by Owner or household member, no displays/signs, no significant traffic, no outdoor equipment, all approvals obtained, no employees except household, prior written approval from Board and annual regi (Article VI, Section 2)

Signs & flags

No signs displayed except approved by Declarant/Board, or certain exceptions: one sign per Lot for sale/rent not larger than 6 sq ft displayed inside window; signs by Declarant/Association for subdivision identification; signs required by g (Article VI, Section 4)

Maintenance

Association responsible for maintenance of Common Area and Areas of Common Responsibility; Owner responsible for maintenance of Lot and all structures, parking areas, landscaping, and other improvements thereon (Article V, Sections 1 and 2)

Insurance

Association shall obtain insurance for all insurable improvements owned by Association, including fire and extended coverage, vandalism and malicious mischief, in amount sufficient for full replacement cost (Article VII, Section 1)

Use restrictions

All Lots shall be used for residential purposes exclusively, with exceptions for sales offices, model homes, and home businesses (Article VI, Section 2)

Voting & meetings

Class A: one vote per Lot owned; Class B: Declarant entitled to three votes per Lot owned (Article III, Section 1)

Amendments

Amendment procedure set forth in Article XI, Section 4 (not detailed in text) (Article XI, Section 4)

Amenities

No specific amenities mentioned; Common Area may include entry features, street lights, storm water facilities (Article V, Section 1(a))

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