Devon Owners Association Inc

What Devon Owners Association Inc's governing documents say

This is an amendment to the Declaration of Covenants, Conditions and Restrictions for Devon Subdivision, a single-family HOA in Raleigh, NC. It modifies the assessment rules for the community, so it's a partial document that doesn't cover the full set of HOA rules.

• What this document doesn't cover: This is only an amendment to the HOA's declaration, not the full rulebook. It doesn't cover architectural rules, pet policies, leasing restrictions, or other typical HOA covenants.
• Assessments (HOA fees): Annual assessments start for each lot when the deed is recorded from the developer to the first owner, or by July 1, 2005, whichever is earlier. There is no reduced assessment for lots owned by the developer or builders.
• Working capital payment: When a builder sells a lot to the first consumer-owner, that owner must pay the association a one-time sum equal to two months' assessment as additional working capital. This is paid even if the developer already paid regular assessments.
• Assessment notices & certificates: The board sets the annual assessment amount at least 30 days before the assessment period and sends written notice to every owner. The association can provide a certificate of paid assessments upon request, for a reasonable charge if it chooses.

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.