Stonewood Property Owners Association Inc

Key facts from Stonewood Property Owners Association Inc's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Stonewood Property Owners Association, Inc. (Preamble; Section 1 (Definitions))

Developer / declarant

Greenfield Communities Stonewood, LLC, a North Carolina limited liability company (Preamble)

Governing law

North Carolina Planned Community Act, N.C. Gen. Stat. §§ 47F-1-101, et seq. (Preamble)

Assessments & dues

Board estimates Annual Expenses, adopts budget, levies Annual Assessment. Budget approval by Owners if required by NC law. (Section 6.03)

Special assessments

Board may levy special assessments if budget inadequate or for capital improvements/repairs. Each Lot pays equal share. (Section 6.04)

Collections & liens

Assessments are a continuing lien on the Lot, prior and superior to all liens except: (1) ad valorem taxes, (2) first priority Mortgages and Mortgages recorded before this Declaration, (3) secondary purchase money Mortgages (if grantee is n (Sections 6.01, 6.07(d), 6.07(e))

Reserves & fees

Late charges added to unpaid assessments (amount not specified in this document). (Section 6.07(b)(i))

Leasing & rentals

Section 11.22 addresses leasing of Lots (specific rules not extracted from body text). (TOC Section 11.22)

Parking & vehicles

Section 11.10 addresses vehicles and parking (specific rules not extracted from body text). (TOC Section 11.10)

Fences

Fences must be maintained to prevent listing/leaning, broken/damaged members repaired, no rot/decay. Painting or staining wooden fences prohibited unless approved in writing by ARC. (Section 7.02(j))

Architectural approval

Architectural Review Committee (ARC) approval required for changes to exterior color scheme, roof appearance, fence painting/staining, and other items per Article VIII. (Sections 7.02(a), 7.02(f), 7.02(j), Arti)

Signs & flags

Document regulates or prohibits political signs (specific rules in Section 11.08, not fully extracted). (Notice on page 1; TOC Section 11.08)

Use restrictions

Lots intended for development, use, and occupancy as detached residences for single families. (Section 1 (Definitions - Lot); Section 1)

Voting & meetings

Two classes: Class A (all Owners except Declarant) and Class B (Declarant only). Class A gets full voting when Declarant designates in writing or at termination of Development Period. Class A: 1 vote per Lot. Class B: full voting until Clas (Section 4.03)

Amendments

Article XII addresses amendment (specific procedure not extracted from body text). (TOC Article XII)

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