Holly Glen Homeowners Association Inc

Key facts from Holly Glen Homeowners Association Inc's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Holly Glen Homeowner's Association, a North Carolina non-profit corporation (Article I(B))

Developer / declarant

AIR VEST, L.L.P., a North Carolina Limited Liability Partnership (Preamble)

Assessments & dues

Residential Lot or Family Dwelling Unit owned by Developer or Builder: $8.00/month; owned other than by Developer or Builder: $25.00/month (Schedule 1)

Special assessments

May levy Special Assessments for construction/reconstruction/remodeling/replacement of Common Properties, additions, facilities/equipment for services, repayment of loans; requires prior consent of two-thirds (2/3) of Members and Company if (Article V Section 4)

Collections & liens

Unpaid Assessment becomes a charge and continuing lien on the land and improvements; if not paid within 30 days after due date, Association may file suit to recover amounts and/or enforce lien by sale of lot (Article V Section 7)

Reserves & fees

Association shall establish Reserve Funds from Annual Assessments for major rehabilitation/repairs, emergency repairs, initial costs of new services (Article V Section 5)

Parking & vehicles

Lot owners' vehicles shall not be habitually parked on the street (Article VII Section 2(C))

Architectural approval

No building, fence, or other improvement shall be constructed, erected, placed, or altered on any lot until building plans and specifications (including architectural style, construction techniques, exterior materials, colors, finishes, roo (Article VII Section 2(A))

Signs & flags

No sign other than a single 'For Sale' or 'Sold' sign and signs at sales office shall be placed on any lot unless approved in writing by architectural committee (Article VII Section 2(C))

Use restrictions

Properties intended for use as Single Family Dwelling, including Single-Family Detached Dwelling, Townhome, or Patio Home (or Zero lot line) (Article I(G))

Voting & meetings

Two classes: Class A (all Owners other than Company) - 1 vote per Family Dwelling Unit or Residential Lot; Class B (Company) - 7 votes per Family Dwelling Unit or Residential Lot in which it holds fee interest (Article III Section 2(A)-(B))

Amendments

Covenants may be amended at any time by written agreement of both (a) two-thirds (2/3) of all owners of lots, and (b) Company and Developer if they own any properties; amendment requires HUD/VA prior approval as long as Class B membership e (Article VIII Section 1)

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