Meadows of Banks Homeowners Association Inc

What Meadows of Banks Homeowners Association Inc's governing documents say

This is a declaration of covenants, conditions, and restrictions for Meadows of Banks Phase 2, a single-family home subdivision in Fuquay-Varina, NC, governed by a homeowners' association (HOA). It applies to all lot owners, who automatically become HOA members and must pay assessments and follow the rules.

• HOA membership & assessments: Every lot owner is a member of the HOA. The initial regular assessment is $240 per year, plus a one-time $300 working capital fee at purchase. Special assessments may be levied, and unpaid assessments accrue interest at 10% per year and can become a lien on the property.
• Architectural review: Any exterior changes—buildings, fences, driveways, pools, or other structures—require written approval from the Architectural Control Committee or Board. Approval can be denied for aesthetic reasons, and all plans must be submitted before work begins.
• Use restrictions: Lots are for residential use only; no businesses, livestock, or poultry are allowed. Up to five domesticated pets are permitted, but they cannot be kept for commercial purposes. Inoperative vehicles must be parked in the garage, and boats/trailers must be kept in the backyard.
• Building standards: Homes must be at least 2,400 sq ft (two-story) or 2,000 sq ft (one-story) of finished living area, with a minimum two-car garage and brick or stone foundation. Only fiber cement, brick, or stone siding is allowed. Fences must be black wrought iron or aluminum, max 5 feet high, and in backyards. No mobile, manufactured, or modular homes are permitted.
• Maintenance responsibilities: The HOA maintains common elements like stormwater ponds and easements. Lot owners are responsible for their own property, including the water service line from the meter to the house, and must keep their lot clean and in good repair.
• Enforcement & fines: The HOA can fine up to $100 per day for violations, and may enter a lot to remove violations or make repairs after 10 days' notice (or immediately in an emergency). Violators are liable for attorneys' fees and costs.
• What this document doesn't cover: This is a partial excerpt of the declaration; it does not include the full bylaws, rules and regulations, or details on amenities (if any). It also doesn't specify any age restrictions or rental restrictions beyond the general residential use.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.