Peak 502 at Beaver Creek Homeowners Association In

Key facts from Peak 502 at Beaver Creek Homeowners Association In's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential planned community (Preamble)

Legal name

Peak 502 at Beaver Creek Homeowners Association, Inc. (Preamble and Article I, Section 4)

Developer / declarant

BEAZER HOMES, LLC, a Delaware limited liability company (Preamble and Article I, Section 11)

Governing law

North Carolina Planned Community Act (Chapter 47F of the North Carolina General Statutes) (Article I, Section 1)

Assessments & dues

Board adopts annual budget; budget deemed ratified unless members vote to reject; if proposed assessment increase <=10% over prior year, 67% of all members to reject; if >10%, majority of all members to reject (Article V, Section 4)

Special assessments

May levy for capital improvements, etc., with Declarant approval during control period. Special assessment for Class B lots owned by Declarant is zero. (Article V, Section 6)

Collections & liens

Unpaid assessments become a lien on the Lot after 30 days and filing of claim of lien. Association may foreclose. (Article V, Sections 1 and 8)

Reserves & fees

Association shall establish a separate reserve account for major repairs and replacements, including Stormwater Control Measures. (Article V, Section 14)

Pets

Yes, reasonable number of cats, dogs, and other ordinary household pets, not for commercial purposes (Article X, Section 6)

Leasing & rentals

Implied allowed (tenants referenced); no specific restrictions stated (Article IV Section 2(b) (tenants allowed)

Parking & vehicles

Vehicles only on improved surfaces (garage, driveway, carport, parking pad); no unenclosed parking except paved driveway (Article X, Section 5)

Fences

Must meet Code and be approved; chain-link fences not permitted (Article X, Section 3)

Architectural approval

Yes, for any building, fence, sign, wall, other structure, exterior alterations, and major landscaping (Article IX)

Home business

No trade, business, profession, or commercial activity except Declarant's sales and construction (Article X, Section 1)

Signs & flags

No Owner shall display any signs outside the dwelling visible from outside the Lot, except as permitted by Rules and Regulations (including prohibition of political signs). (Recital (first page) and reference to Ar)

Setbacks / home size

Building envelope per Code. Dwelling must face street (corner lots may face either street). (Article X Section 2)

Maintenance

Owner maintains Lot; Association maintains Common Area. For Townhome Lots, Association also maintains exterior building surfaces, roofs, gutters, sidewalks, stoops (but not glass, screens, fences, or items not part of original construction (Article VI, Sections 1, 3, 4)

Insurance

Association shall maintain liability insurance; Declarant may include in master program during control period (Article VI, Section 3; Article VII, Sect)

Use restrictions

Yes (Article X, Section 1)

Voting & meetings

Two classes: Class A (Owners of Lots) with one vote per Lot after Declarant Control Period; Class B (Declarant) with full voting during control period. (Article III, Sections 1 and 2)

Amendments

Term 25 years from recording, auto-renew 10-year periods; amendment by 80% of Members or 75% of Owners plus Declarant during control period; Declarant may amend during control period without consent (Article XI, Section 2)

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