Brier Creek Corporate Center Master Association Inc

What Brier Creek Corporate Center Master Association Inc's governing documents say

This is a legal amendment to a stormwater replacement agreement between the developer, the Brier Creek Corporate Center Master Association, and the City of Raleigh. It is not a community rulebook; it governs how stormwater facilities are funded and maintained, and it applies to the association and property owners within the Brier Creek Corporate Center development.

• What this document is: This is a first amendment to a stormwater replacement agreement, updating how stormwater control measures are funded and maintained. It is a legal contract, not a set of community rules.
• Who it binds: It binds the developer, the master association, and the City of Raleigh. It also affects lot owners who may be assessed for stormwater costs if the association fails to pay.
• Stormwater funding changes: The old general replacement fund is eliminated. Instead, the association is urged to set up its own reserve fund, and if the City has to do work, it can assess the affected lot owners.
• Reserve fund schedule: The proposed reserve fund schedule for Facility #1 is $1,623.80 per year from 2006 to 2036, totaling $48,714, based on a 30-year useful life.
• Affected lots: The stormwater facility serves Lots 6, 8, and 9, with Lot 6 recombined with Lot 5. These lots may be subject to future assessments if the association doesn't maintain the facility.
• What this document doesn't cover: This document does not cover typical HOA rules like pets, leasing, architectural review, or amenities. It only addresses stormwater maintenance and funding.

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.