Grays Creek Homeowners Association Inc

Key facts from Grays Creek Homeowners Association Inc's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential planned community (WHEREAS clauses)

Legal name

Grays Creek Homeowners Association Inc

Developer / declarant

Grays Creek Developers, LLC, a North Carolina limited liability company (Opening paragraph)

Governing law

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

Assessments & dues

Initial annual assessment $400.00; Maximum Annual Assessment $450.00 until December 31, 2014 (Article IV, Sections 4.3 and 4.7)

Special assessments

May be levied; must be approved by at least two-thirds (2/3) of Total Association Vote (Article IV, Section 4.8)

Collections & liens

Assessments, interest, late fees, costs, and reasonable attorney's fees are a continuing lien on the Lot when claim of lien filed with Clerk of Superior Court, Wake County; Association may foreclose if unpaid after 30 days (Article IV, Sections 4.9 and 4.11)

Reserves & fees

Board may include capital contribution or reserve in budget; provision for adequate reserves for replacement of capital improvements (Article IV, Sections 4.1 and 4.7)

Pets

Dogs, cats, or other usual and common household pets in reasonable number as determined by Board (Article VI, Section 6.2(m))

Leasing & rentals

Lots may be leased for residential purposes (Article VI, Section 6.3(k))

Parking & vehicles

Parking on streets or thoroughfares prohibited; parking of commercial vehicles, mobile homes, RVs, boats, trailers, damaged/rusty/unsightly/stored/inoperable vehicles in places other than enclosed garages prohibited (Article VI, Section 6.3(i)(i))

Fences

No fence or fencing type barrier without prior written consent of ARC; Declarant may erect fencing on model home Lots; Board may erect fencing on Common Property (Article VI, Section 6.2(w))

Architectural approval

No exterior construction, alteration, addition, or erection without prior written approval of Architectural Review Committee (Article VI, Section 6.3)

Solar & roof

No solar energy collector panels or attendant hardware or other energy conservation equipment unless integral and harmonious part of architectural design, as determined in sole discretion of ARC (Article VI, Section 6.2(bb))

Home business

Home office or business permitted if principal use is single-family residential, permitted by local ordinances, not a nuisance, and conforms to Association rules; Board may permit business if no violation, disturbance, or undue traffic/park (Article VI, Section 6.2)

Signs & flags

No sign (including political) displayed to public view except: signs advertising Lots for sale during development/construction/sales period; one sign not more than 10 sq ft advertising property for sale/rent; political signs not more than 1 (Article VI, Section 6.3(h))

Maintenance

Not specifically addressed (Not addressed)

Insurance

Reasonable deductible permitted; amount not subtracted from face amount for full replacement cost determination (Article VII, Section 7.4)

Use restrictions

All Lots shall be used for residential purposes exclusively, except sales offices, construction offices, model homes, and permitted home offices/businesses (Article VI, Section 6.2)

Voting & meetings

Class A Members (all owners except Class B): 1 vote per Lot. Class B Member (Declarant): 9 votes per Lot owned until Declarant Control Period expires, then 1 vote per Lot. No fractional voting. One vote per Lot regardless of multiple owners (Article III, Section 3.2)

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