Shannon Road Executive Park Owners Association Inc

Key facts from Shannon Road Executive Park Owners Association Inc's documents

Reflects the 1996 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community (commercial)

Legal name

Shannon Road Executive Park Owners Association Inc

Units / lots

5 lots initially established (Lot 1, Lot 2, Lot 3, Lot 4, and RDSK, LLC Lot) (Article II, Section 4(a))

Developer / declarant

Plaza Associates, Inc., a North Carolina corporation (Preamble)

Assessments & dues

Board of Directors may fix the annual assessment at an amount not in excess of the maximum (Article III, Section 2(c))

Special assessments

Special Assessments for Capital Improvements require affirmative Vote of Owners having at least two-thirds (2/3rds) of the total Vote at a meeting duly called and held for such purpose (Article III, Section 3(h))

Collections & liens

Any assessment levied against a Lot remaining unpaid for a period of thirty (30) days or longer shall constitute a lien on that Lot when filed of record in the office of the Clerk of Superior Court of Durham County; Association may bring an (Article III, Section 4)

Reserves & fees

Establishment and maintenance of an adequate reserve fund or funds for periodic maintenance, repair and replacement of Common Areas and to cover operating contingencies or deficiencies (Article III, Section 3(g))

Pets

No animals or birds, or any kind of pet, shall be kept or maintained on any portion of the Property (Article IV, Section 5)

Leasing & rentals

Leasing permitted subject to rules and regulations; no Owner may lease his Lot for transient or hotel purposes (Article IV, Section 14(b))

Parking & vehicles

Automobiles shall be operated and parked only upon those portions of the Common Areas designated for such purposes on the Plat or by the Board of Directors (Article IV, Section 8)

Architectural approval

No construction, painting or other changes of any nature whatsoever shall be commenced or maintained by any Lot Owner with respect to the exterior of any Lot or any other portion of the Property unless plans and specifications approved in w (Article IV, Section 1)

Home business

Office/business use permitted; retail sales on site prohibited (Article IV, Section 3)

Signs & flags

No 'For Sale' or 'For Rent' signs of any kind shall be maintained or permitted on any portion of the Property without the express prior written permission of the Board of Directors; exceptions for Declarant signs, community bulletin board n (Article IV, Section 4)

Setbacks / home size

No building shall contain in excess of 5,000 gross square feet, unless otherwise agreed to in writing by the Declarant (Article II, Section 4(e))

Maintenance

Association responsible for maintenance of Common Areas; Lot Owner responsible for maintenance of Lot and Building (implied by Article VI structure) (Article VI)

Insurance

Cost of master or blanket policies of insurance purchased for the benefit of all Owners and the Association as required by this Declaration, including fire and other hazard coverage, public liability coverage, and such other insurance cover (Article III, Section 3(c))

Use restrictions

All Lots restricted exclusively to office/business use, specifically prohibiting businesses whose primary business is retail sales on site (Article IV, Section 3)

Voting & meetings

Each Lot is entitled to only one Vote, regardless of the number of Owners of said Lot (Definitions - Vote)

Amendments

Article X, Section 1: Amendment (details not provided in extracted text) (Table of Contents)

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