Riverstone (NC)

Key facts from Riverstone (NC)'s documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Riverstone Estates Owners Association, Inc. (Article I, Section 2)

Developer / declarant

Riverstone Estates, LLC, a North Carolina limited liability company (Preamble)

Assessments & dues

Maximum annual assessment $700.00 per Lot through December 31, 2017 (Article IV, Section 3(a))

Special assessments

Association may levy special assessment for capital improvements with assent of two-thirds (2/3) of votes of members voting in person or by proxy at meeting duly called (Article IV, Section 4)

Collections & liens

Association may bring action at law against Owner or foreclose lien against Lot; lien enforceable pursuant to Article 2A of Chapter 45 of NC General Statutes after recording Claim of Lien (Article IV, Section 9)

Reserves & fees

Board shall create and maintain reserve fund for periodic maintenance, repair, and replacement of improvements to Common Properties (Article IV, Section 5)

Pets

Dogs, cats, pet birds or other household pets may be kept provided not for commercial purposes, controlled per governmental ordinances, and not a nuisance; no insects (including bees), animals, birds, livestock or poultry of any kind except (Article VII, Section 4)

Parking & vehicles

Parking or storing of boats, marine craft, hovercraft, aircraft, recreational vehicles, pick-up campers, travel trailers, motor homes, camper bodies or similar vehicles in driveway or front yard or on public street prohibited; any such vehi (Article VII, Section 12)

Fences

No fence, wall, hedge or other mass planting shall be erected or permitted in front of a dwelling on any Lot, except as approved by Architectural Committee (Article VII, Section 9)

Architectural approval

No site preparation, initial construction, exterior repainting, erection or installation of improvements shall commence until plans and specifications submitted to and approved in writing by Architectural Committee (Article V)

Home business

No industry, business, trade, occupation, or profession of any kind shall be conducted on any Lot except Declarant may use Lot for sales/display and maintain sales/rental office; home office for personal use permitted (Article VII, Section 7)

Signs & flags

No Lot Owner shall display any sign, placard, poster, billboard, or identifying name or number except as allowed by Association or required by local government; Declarant may place For Sale/For Rent signs and erect signs during development (Article VII, Section 8)

Setbacks / home size

No building shall be located nearer to front, rear, or side Lot lines than permitted under applicable subdivision ordinances of Chatham County or other governmental entity (Article VIII, Section 2)

Insurance

Association shall maintain public liability and property damage insurance, cross-liability endorsements, fidelity bonds for officers/employees controlling Association funds, and other insurance required by law (Article X, Section 1)

Use restrictions

No portion of Property (except temporary office of Declarant and building models) shall be used except for single-family residential purposes and purposes incidental or accessory thereto (Article VII, Section 2)

Voting & meetings

Class A members (all Owners except Declarant) have one vote per Lot; fractional voting prohibited; Class B member is Declarant; Class A cannot vote until Class B converted (Article III, Section 2)

Amendments

Declaration may be amended by instrument signed by not less than 75% of Lot Owners; Declarant may unilaterally amend while owning property for development if no material adverse effect on Lot Owners' rights (Article XII, Sections 3-4)

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