Cotswold Community Association Inc

What Cotswold Community Association Inc's governing documents say

Cotswold is a single-family home HOA in Cary, NC, created by Centex Homes in 1998. This declaration binds all lot owners to the association's rules, assessments, and architectural controls. It's for anyone buying or living in a home in this subdivision.

• What you own & maintain: You own your lot and home; the association owns and maintains the common areas (including a planned pool, cabana, and parking lot) and carries liability insurance on them.
• Assessments & fees: Annual assessments started at $300 per lot (capped until 2000, then can rise up to 10% yearly without a vote). Special assessments require owner approval. A one-time working capital fee equal to 1/6 of the annual assessment is due at closing.
• Architectural review: You must get written approval before building, altering, or major landscaping; the declarant (or later the association) reviews plans within 30 days and may charge up to $75 per application.
• Leasing & rentals: Renting your home is allowed, but tenants must use it as their principal residence in Wake County, and owners of vacant or leased homes have limited voting weight (max 49%) on association matters.
• Common area use: Owners, their families, tenants, and guests may use the common areas, subject to association rules. The association can suspend voting rights for unpaid assessments or rule violations, and can limit use of facilities.
• Enforcement & penalties: The association can fine for violations, suspend voting and common-area use, tow vehicles, and place liens on your lot for unpaid assessments (with 14% interest and attorney fees).
• What this document doesn't cover: This is the declaration of covenants, conditions, and restrictions; it doesn't include the association's bylaws, detailed architectural guidelines, or current fee amounts, which are set separately.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.