Oaks at Sippihaw Homeowners Association Inc

What Oaks at Sippihaw Homeowners Association Inc's governing documents say

This is an amendment to the bylaws of the Oaks at Sippihaw Homeowners Association, a single-family HOA in Fuquay-Varina, NC. It updates rules about member meetings and clarifies how assessments (HOA fees) are charged, collected, and enforced. This document is a partial amendment, not the full set of governing rules.

• Annual meetings: The HOA must hold an annual meeting for members during the last quarter of the fiscal year, with the first meeting within one year of incorporation.
• Assessments & late fees: Each owner must pay annual and special assessments, which are secured by a lien on the property. If unpaid for more than 30 days, interest accrues at 6% per year (or up to prime rate plus 3%, as set by the Board), plus a handling fee up to 4% of the annual assessment.
• Enforcement & collection: The HOA can sue the owner personally or foreclose on the property to collect unpaid assessments, and can add interest, costs, and reasonable attorney's fees. Owners cannot avoid assessments by not using common areas or abandoning their lot.
• What this document doesn't cover: This is only an amendment to the bylaws; it does not include the full declaration, architectural rules, pet policies, or other community restrictions. Those would be in the original governing documents.

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.