Wedgewood Homeowners Association Inc

Key facts from Wedgewood Homeowners Association Inc's documents

Reflects the 1988 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

WEDGEWOOD ASSOCIATION OF CLUB COTTAGE OWNERS, INC. (Article I §1)

Units / lots

19 (one Club Cottage per Lot) (Exhibit A; Article II §3)

Developer / declarant

WEDGEWOOD PARTNERS, t/a WEDGEWOOD DEVELOPMENTS, Ltd., an Illinois general partnership (Preamble)

Governing law

North Carolina law (general) (Preamble (State of North Carolina))

Assessments & dues

Through December 31, 1988: maximum $1.05 per heated square foot; thereafter set by Board (Article V §1(c))

Special assessments

May be levied for that year only if approved per Section 5(b) (2/3 vote, 60% quorum) (Article V §6)

Collections & liens

Continuing lien on Lot for unpaid assessments (including interest, court costs, attorney's fees); personal obligation of Owner and subsequent Owners; Association may foreclose lien (Article V §3; §9)

Reserves & fees

Capital improvement/reserve fund required; amount set by Board; kept in separate account; interest added to fund (Article V §2)

Fences

Fences require prior written approval of Board and ARB (Article VI §2)

Architectural approval

Yes - prior written approval of Board and ARB of Master Association required for any construction, reconstruction, remodeling, alteration, fence, wall, etc. (Article VI §1; §2)

Setbacks / home size

Per building envelopes shown on recorded plat (Article VI §2)

Maintenance

Association: exterior maintenance of Common Areas and portions of Lots outside residence building; Owner: interior portions, patios, railings, decks, bathroom/kitchen fixtures, lighting, electrical/plumbing equipment, HVAC systems (Article VI §7)

Insurance

Association must maintain: standard HOA policy on common areas; bodily injury/property damage liability; fidelity coverage (3 months operating budget + projected reserves); all liability policies with severability of interest (Article VII §2(a))

Use restrictions

Lots for attached or detached residential purposes (except Exempt Lots used as sales offices/pro shop) (Article I §4; Article I §11)

Voting & meetings

Each Lot entitles its Owner to one vote; joint owners exercise vote by proxy/nominee (Article III §1(d))

Amendments

Amendment requires agreement of: (a) Master Association; (b) Developer if it owns any Lot; (c) at least 2/3 of Owners; must be filed of record; does not apply to additions under Article II §2 (Article X §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.