Riley S Pond Homeowners Association Inc

Key facts from Riley S Pond Homeowners Association Inc's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Riley's Pond Homeowners Association, Inc., a North Carolina nonprofit corporation (Article I, "Association")

Developer / declarant

Riley's Pond Developers, LLC, a North Carolina limited liability company (Preamble)

Governing law

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

Assessments & dues

Initial annual assessment: $400.00. Maximum Annual Assessment until Dec 31, 2016: $500.00 per Class A Lot. (Sections 4.7, 4.3)

Special assessments

Must be approved by at least two-thirds (2/3) of Total Association Vote at a meeting. (Section 4.8)

Collections & liens

Assessments, interest, late fees, costs, and attorney's fees are a lien on the Lot when claim of lien filed with Clerk of Superior Court, Wake County. Association may foreclose by any method allowed by law; may bid at foreclosure sale. (Sections 4.9, 4.11)

Reserves & fees

Board may include capital contribution or reserve in budget. (Section 4.7)

Pets

Dogs, cats, or other usual and common household pets in reasonable number (as determined by Board) are permitted. No animals, livestock, or poultry otherwise. (Section 6.3(m))

Leasing & rentals

Lots may be leased for residential purposes. (Section 6.3(k))

Parking & vehicles

Parking on streets or thoroughfares prohibited. Commercial vehicles, mobile homes, RVs, boats, trailers, damaged/rusty/unsightly/inoperable vehicles must be in enclosed garages. Construction/service/delivery vehicles exempt during daylight (Section 6.3(i)(i))

Fences

No fence or fencing type barrier without prior written consent of ARC. Declarant may erect fencing on model home Lots. Board may erect fencing on Common Property. (Section 6.3(w))

Architectural approval

No exterior construction, alteration, addition, or erection without written approval of Architectural Review Committee (except Declarant-installed items). (Section 6.3)

Solar & roof

No solar energy collector panels or attendant hardware unless integral and harmonious part of architectural design, as determined in ARC's sole discretion. (Section 6.3(bb))

Home business

Home office/business permitted if principal use is single-family residential, allowed by local ordinances, not a nuisance, and conforms to Association rules. Board may permit business use in its sole discretion. (Section 6.2)

Signs & flags

No sign displayed to public view except: (1) signs advertising Lots for sale during development; (2) one sign not more than 10 sq ft advertising property for sale/rent; (3) political signs not more than 10 sq ft, placed no earlier than 60 d (Section 6.3(h))

Maintenance

Association maintains Areas of Common Responsibility, including landscaping, improvements on Common Property, lakes/dams, entry features, street lights, stormwater facilities, street tree easement, buffer plantings. Owner responsible for al (Sections 5.1, 5.2)

Insurance

Association obtains fire and extended coverage (including vandalism and malicious mischief) or all-risk coverage on insurable improvements it is obligated to maintain, in amount sufficient for full replacement cost. (Section 7.1)

Use restrictions

All Lots shall be used for residential purposes exclusively, except for sales offices, construction offices, and model homes. (Section 6.2)

Voting & meetings

Class A Members (all Owners except Declarant): one vote per Lot. Class B Member (Declarant): nine votes per Master Plan Lot owned during Declarant's Period; after that, one vote per Lot. No fractional voting. One membership per Lot. (Article III, Sections 3.1, 3.2)

Amendments

Declaration may be amended per its terms; Supplementary Declarations may be recorded. Specific amendment procedures not fully detailed in provided text. (Article I, "Declaration"; Article II, Se)

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