Meadows at Twin Lakes Homeowners Association Inc

Key facts from Meadows at Twin Lakes Homeowners Association Inc's documents

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

Community type

planned community of attached single-family townhomes (Preamble)

Legal name

Meadows at Twin Lakes Homeowners Association, Inc. (Article I, Section 2)

Developer / declarant

DAN RYAN BUILDERS — NORTH CAROLINA, LLC, a North Carolina limited liability company (Opening paragraph; Article I, Section 6)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Article I, Section 1)

Assessments & dues

Maximum Annual Assessment $840.00 per Class A Lot until December 31, 2020; Class B Lots zero (Article V, Section 3)

Special assessments

Approved by Declarant (during control period) and not less than 2/3 of Class A Members present and voting; quorum 60% of each class; Class B special assessment always zero (Article V, Section 5)

Collections & liens

Assessments unpaid for 30+ days constitute a lien on the Lot; may be foreclosed; subordinate to first mortgages; foreclosure of first mortgage extinguishes prior liens (Article V, Sections 7-8)

Reserves & fees

Two stormwater funds required: Inspection and Maintenance Fund (minimum $2,568/year) and Major Reconstruction Fund (minimum $611/year), both increasing 3% annually; Major Reconstruction Fund in separate account (Article IV, Section 4(d)(3))

Pets

Yes, reasonable number of cats, dogs, and other household pets allowed, not kept/bred/maintained for commercial purpose and not a nuisance (Article X, Section 5)

Leasing & rentals

Yes, Owner may lease a Lot to residential tenants for profit, subject to lease terms being subject to Declaration (Article X, Section 1)

Parking & vehicles

Declarant shall provide and Association shall maintain at least minimum parking spaces required by City of Durham; Board may assign parking spaces on equal, non-discriminatory basis (Article X, Section 7)

Fences

Fences require approval; site plan and material statement required; Association not responsible for maintaining fences or Yard Improvements inside fenced/enclosed privacy areas (Article IX, Section 1(b)(iii); Article V)

Architectural approval

Yes, no building, fence, awning, lawn statue, wall, garage, carport, playhouse, swimming pool, mailbox or other structure, or exterior addition/change/alteration, without written approval of Executive Board (Article IX, Section 1(a))

Home business

Prohibited except as permitted by City of Durham Code (Article X, Section 1)

Signs & flags

No signs except: sales signs during construction/sales period, one sign up to 10 sq ft advertising sale/rent, and political signs up to 10 sq ft (not earlier than 60 days before election, removed within 7 days after); no signs on Common Are (Article X, Section 6)

Maintenance

Association responsible for repair, replacement and care of roofs (Article VI, Section 1)

Insurance

Association shall maintain hazard insurance on insurable improvements on Common Area at 100% of insurable value (unless 75% of first deed of trust holders approve otherwise) (Article VII, Section 3(c))

Use restrictions

All Lots shall be used for residential purposes only; no trade, business, profession or commercial activity except as permitted by City of Durham Code, with exceptions for sales/leasing and Declarant activities (Article X, Section 1)

Voting & meetings

Two classes: Class A Members (owners of all Lots except Class B) get 1 vote per Lot; Class B Member (Declarant) gets 9 votes per Lot owned during Declarant Control Period, then 1 vote per Lot (Article III, Section 2)

Amendments

Not explicitly detailed in this document; annexation after Declarant Control Period follows same process as any other amendment (Article II, Section 2)

Amenities

No specific amenities (pool, clubhouse, etc.) mentioned; Common Area includes private streets, curbs, sidewalks, stormwater facilities, water/sewer lines (Article I, Section 14)

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