55 at the Park Homeowners Association Inc

Key facts from 55 at the Park Homeowners Association Inc's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential community with single-family attached dwellings (townhomes) and possibly detached dwellings (Definition of 'Dwelling' and 'Lot' (Arti)

Legal name

55 at the Park Homeowners Association, Inc., a North Carolina nonprofit corporation (Definition of 'Association' (Article I))

Developer / declarant

Pulte Home Company, LLC, a Michigan limited liability company (Preamble)

Governing law

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

Assessments & dues

$1,896.00 per year ($158.00 per month) until December 31 of the year of first Lot conveyance to non-Declarant (Article IV, Section 3)

Special assessments

After Declarant's Development Period, requires 2/3 vote of each class of members present; before that, special assessments >5% of budgeted Common Expenses require 2/3 vote; ≤5% may be levied by Board alone (Article IV, Section 7)

Collections & liens

Unpaid assessments for 30+ days become a lien on the Lot; may be foreclosed; first mortgage holder not liable for pre-acquisition assessments; personal obligation of prior owner unless assumed (Article IV, Section 4)

Reserves & fees

Association must maintain two stormwater funds: Inspection and Maintenance Fund (min $3,210/year) and Major Reconstruction Fund (min $763/year), both increasing 3% annually (Article V, Section 5(c))

Pets

Yes, dogs, cats, and other usual household pets allowed (Article VI, Section 9)

Leasing & rentals

Yes, Lots may be leased for residential purposes (Article VI, Section 7)

Parking & vehicles

Only private passenger vehicles may park overnight without Board consent; no commercial vehicles, trucks (except private passenger trucks), RVs, campers, trailers, aircraft, motorcycles outside garage overnight (Article VI, Section 5(a))

Fences

Fences are addressed in Article VI, Section 19, but details not in provided text (Table of Contents, Article VI, Section 1)

Architectural approval

Yes, no exterior construction, alteration, addition, or erection without ARC approval (Article VI, Section 3)

Solar & roof

Energy conservation equipment addressed in Article VI, Section 24, but details not in provided text (Table of Contents, Article VI, Section 2)

Home business

Allowed only if: operated by Owner/household member/tenant; no displays/signs; no significant traffic; no outdoor equipment; all permits obtained; consistent with residential nature; no employees except household; prior written Board approv (Article VI, Section 2)

Signs & flags

No signs except: (i) one for-sale/rent sign ≤6 sq ft inside window; (ii) Declarant's sales signs; (iii) subdivision identification signs; (iv) Common Area identification signs; (v) signs required by government/utility (Article VI, Section 4)

Maintenance

Not explicitly stated, but Owner responsible for all structures on Lot (Article V, Section 3) (Article V, Section 3)

Insurance

Article VII addresses insurance on Common Area and liability insurance, but details not in provided text (Table of Contents, Article VII)

Use restrictions

All Lots shall be used for residential purposes exclusively, with exceptions for sales offices, model homes, and approved home businesses (Article VI, Section 2)

Voting & meetings

Class A members (owners) get 1 vote per Lot; Class B member (Declarant) gets 3 votes per Lot owned by Declarant/Affiliate; Class B converts to Class A when Declarant loses appointment right (Article III, Section 1)

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