Parkside Homeowners Association Inc

What Parkside Homeowners Association Inc's governing documents say

This is an amended cost-sharing agreement between two North Carolina homeowners associations (Timber Ridge HOA and Parkside HOA), not a full set of community rules. It governs how Timber Ridge pays its share of maintaining a common buffer area and entrance along Parkside Commons Drive, and it applies to the associations and their member homeowners, not to renters or buyers directly.

• Common area maintenance & cost sharing: Timber Ridge pays Parkside a quarterly pro-rata share of common area expenses (grounds maintenance, mulch, repairs, utilities, liability insurance, and management fees capped at $1,000 in 2011, adjusted for CPI). The share is calculated by dividing total common area expenses by 306 lots (across four subdivisions) and multiplying by Timber Ridge's 151 lots.
• Landscape committee: A committee of three resident homeowners (one from Parkside, one from Timber Ridge, one from Trail Ridge or Autumn Ridge) oversees maintenance, solicits three bids for grounds maintenance every two years, inspects the common area quarterly, and approves work. New improvements over $3,000 require unanimous committee approval; under $3,000 require majority approval.
• Payment & enforcement: Parkside sends quarterly invoices; Timber Ridge must pay within 30 days and is responsible for collecting from its own members. If either party sues to enforce the agreement, the prevailing party (recovering at least 50% of its claim) can recover attorney's fees with no cap.
• What this document doesn't cover: This is an ancillary agreement between two HOAs, not a declaration of covenants, conditions, and restrictions. It does not contain rules for homeowners (e.g., pet limits, leasing, architectural standards, or assessments) and does not bind individual residents directly.

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.