Laurel Ridge Townhome Association, Inc.

Key facts from Laurel Ridge Townhome Association, Inc.'s documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned community (townhome association) (Preamble; Article I)

Legal name

Laurel Ridge Townhome Association, Inc. (Article II definition)

Developer / declarant

D.R. Horton, Inc., a Delaware corporation (Page 2, introductory paragraph)

Governing law

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

Assessments & dues

Board prepares annual budget at least 60 days before fiscal year end and levies Base Assessments equally against all Lots (Section 9.3)

Special assessments

Permitted with majority Board vote and Declarant consent during Declarant Control Period (Section 9.4)

Collections & liens

Unpaid assessments become a lien after 30 days when Association files a claim of lien; lien is superior except prior recorded liens and tax liens (Section 9.2)

Reserves & fees

Required for Stormwater Control Facilities (Section 9.1) and for repair/replacement of capital assets based on separate reserve budget (Section 9.3) (Sections 9.1, 9.3)

Leasing & rentals

Yes, but Association may require minimum lease term of six months and otherwise regulate leasing, except if Lot subject to FHA/VA-insured mortgage (Section 4.5.3)

Parking & vehicles

Only licensed and operative vehicles classified as motorcycles, passenger cars, station wagons, passenger pick-up trucks or passenger vans may be regularly parked in driveways; no regular parking on roadways; no boats, boat trailers, camper (Section 4.3.7)

Fences

No fence may be placed without approval under Article V; no specific fence height or material given (Section 5.1)

Architectural approval

Yes, Reviewer (Declarant or ARC) approval required before any structure, fence, excavation, etc. on a Lot (Section 5.1)

Home business

Permitted as ancillary to primary residential use, subject to Rules and Regulations and applicable laws (Section 4.1)

Signs & flags

No signs, billboards, or advertising displayed to public view on any Lot, right of way, or Common Area exceptions: Declarant's marketing signs and professional prepared for-sale/for-rent signs not larger than 18" x 24" (Section 4.3.3)

Maintenance

Association responsible for roofs (exterior maintenance) (Section 6.2(h))

Insurance

Treated as Common Expense unless loss caused by negligence or willful misconduct of Owner, then assessed as Specific Assessment against that Owner (Section 7.1.4)

Use restrictions

Yes, Lots and Common Area shall be used for residential and related purposes only, subject to Governing Documents (Section 4.1)

Voting & meetings

Class A Members (Lot owners other than Declarant) have 1 vote per Lot; Class B Member (Declarant) has 3 votes per Lot owned plus 1 vote per Lot owned by others. Class B converts to Class A upon certain events. (Section 3.3)

Amendments

Not fully addressed in this document; Rules and Regulations may be amended by Declarant during control period, Board, or Members with >50% vote (Section 4.4)

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