Preston Community Association Inc

What Preston Community Association Inc's governing documents say

This is a restated declaration of covenants, conditions, and restrictions for Preston, a large planned unit development in Cary, NC, governed by the Preston Community Association, Inc. It applies to all lot owners in the community, establishing a homeowners' association with mandatory membership, assessments, and architectural controls. The document consolidates prior covenants without substantive changes, so it serves as the primary rulebook for the community.

• What you own & maintain: You own your lot and any improvements on it; the association owns and maintains the common areas, including landscaped rights-of-way and roadway medians. Owners are responsible for maintaining their own lots and improvements, and the association can levy special assessments to cover costs if an owner fails to maintain their property.
• Assessments & fees: The association levies annual assessments, special assessments for capital improvements, and special individual assessments for owner-caused maintenance costs. The maximum annual assessment can be increased by the board up to 15% per year without member approval; larger increases require a two-thirds vote of members present at a meeting. Assessments are a lien on the lot and a personal obligation of the owner.
• Leasing & rentals: Owners may lease their lots, but any lease must state that it is subject to the declaration, articles, and bylaws, and that a lessee's failure to comply is a default under the lease. There is no minimum lease term specified in this document.
• Architectural review: All exterior improvements, including buildings, fences, landscaping, and changes to exterior colors, require approval from the Architectural Control Committee. The committee has jurisdiction over the design, location, and appearance of improvements, and failure to act within a specified time may be deemed approval.
• Use restrictions: Lots are intended for single-family residential use, and there are restrictions on nuisances, temporary structures, boats, on-street parking, and other activities. The association can adopt rules and regulations, and can suspend voting rights and recreational facility use for unpaid assessments or rule infractions.
• Common area & amenities: Owners have an easement to use the common areas, subject to association rules and fees. The association can borrow money to improve common areas, and can dedicate or transfer common areas to public agencies with a two-thirds vote. The document mentions a golf course and golf cart paths, but does not detail specific amenities.
• What this document doesn't cover: This is a restated declaration that consolidates prior covenants; it does not include the association's bylaws, articles of incorporation, or any supplemental declarations that may add specific rules for particular sections. It also does not specify current assessment amounts, pet rules, or rental restrictions beyond the general lease provision.

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.