Fern Valley Homeowners Association Inc

Key facts from Fern Valley Homeowners Association Inc's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Fern Valley Homeowners Association, Inc. (Title, BK009243PG00054)

Developer / declarant

Robert J. Sullivan Builder, Inc., a North Carolina Corporation (Preamble)

Governing law

Laws of North Carolina (Article XIV, Section 11)

Assessments & dues

Maximum annual assessment through December 31, 2002 is $400.00 per Lot (Article VII, Section 3)

Special assessments

Special assessments for capital improvements require assent of 67% of votes of each class voting in person or by proxy at a duly called meeting (Article VII, Section 4)

Collections & liens

Assessments are a continuing lien on the property and personal obligation of the owner; Association may foreclose the lien or bring action at law; lien is subordinate to first mortgages and ad valorem taxes (Article VII, Sections 1, 8, 9)

Reserves & fees

Assessments not paid within 30 days after due date bear interest from due date at the highest rate permitted by North Carolina law (Article VII, Section 8)

Pets

No animals or pets of any kind, other than ordinary household pets, shall be kept or maintained on any part of the Property (Article VIII, Section 10)

Parking & vehicles

Adequate off-street parking shall be provided by each Owner; Owners shall not park automobiles on streets; boats, trailers, campers, commercial vehicles and similar property shall not be parked on streets or visible from any street (Article VIII, Section 11)

Fences

No fence, wall, hedge or mass planting permitted beyond the line extending from the front of the house to either side lot line, except upon approval; no fence of any kind without prior written consent of Architectural Control Committee; hog (Article VIII, Section 7)

Architectural approval

No site preparation or initial construction, erection, or installation of any improvements shall be undertaken unless plans and specifications are submitted to Declarant and expressly approved in writing; subsequent alterations also require (Article XII, Section 1)

Home business

No business activity or trade of any kind, including doctor's office, professional office, fraternity house, rooming/boarding house, antique or gift shop, shall be carried on upon any Lot (Article VIII, Section 5)

Signs & flags

No signs or billboards shall be stored or regularly parked on the premises (Article VIII, Section 5)

Setbacks / home size

No building shall be located nearer than 30 feet to front line, 30 feet to rear line, 15 feet to side street (corner lot); no building or garage nearer than 8 feet to interior lot line; accessory buildings not nearer than 8 feet to interior (Article VIII, Section 4)

Maintenance

Each Owner has duty to properly maintain his Lot or Living Unit and all improvements constructed thereon (Article XIII, Section 1)

Insurance

Association must maintain: (a) property damage insurance at 100% of current replacement cost of Community Common Properties; (b) public liability insurance covering all Community Common Properties in amount of at least $1 million for bodily (Article X, Section 1)

Use restrictions

No Lot shall be used except for residential purposes; if purchased from developer by individual owner or builder, must be used for residential purposes only (Article VIII, Section 2)

Voting & meetings

Two classes: Class A (all owners except Declarant) - one vote per Lot/Living Unit; Class B (Declarant) - three votes per Lot/Living Unit owned. Class B converts to Class A when Class A votes equal Class B votes or after 15 years from incorp (Article V, Section 1)

Amendments

Covenants run with land for 30 years from recording, then automatically extend for successive 10-year periods unless changed; may be amended by 75% vote of each class at a meeting with quorum; Declarant may amend without consent before sale (Article XIV, Section 3)

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