Fallsofthecape

Key facts from Fallsofthecape's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

residential community with single-family attached and detached homes (Recitals A)

Units / lots

approximately 352 single-family attached and detached homes (Recitals A)

Developer / declarant

Stafford Land Company, Inc. Employee Profit Sharing Plan and Trust (Preamble)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Article I, Section 1)

Assessments & dues

$325.00 per Class A Lot until December 31, 2017; Class C Lots one-fourth of Class A; Class B Lots zero (but any lot with a dwelling occupied as residence assessed as Class A) (Article V, Section 3(a))

Special assessments

May be levied for capital improvements, debt repayment, or non-recurring expenses; requires approval of Declarant (during control period) and not less than 67% of Class A Members present and voting; Class C one-fourth of Class A; Class B ze (Article V, Section 4)

Collections & liens

Assessments unpaid for 30+ days become a continuing lien on the lot; may be foreclosed; personal obligation of owner at time assessment became due; subsequent owner not personally liable unless assumed; first mortgage foreclosure extinguish (Article V, Sections 6-7)

Reserves & fees

Association shall establish one or more separate reserve accounts for major repairs/replacements of Common Property, including Stormwater Control Measures (Article V, Section 11)

Pets

Article XI, Section 7 addresses animals (specific rules not extracted) (Table of Contents, Article XI, Section 7)

Leasing & rentals

Article XI, Section 15 addresses restrictions on rental of dwellings (specific rules not extracted) (Table of Contents, Article XI, Section 1)

Parking & vehicles

Article XI, Section 6 addresses parking, driveways, parking pads, abandoned vehicles (specific rules not extracted) (Table of Contents, Article XI, Section 6)

Fences

Article XI, Section 4 addresses fences (specific rules not extracted) (Table of Contents, Article XI, Section 4)

Architectural approval

Article IX addresses architectural control (specific rules not extracted) (Table of Contents, Article IX)

Signs & flags

Document regulates display of political signs (per cover page); specific rules in Article XI, Section 9 (not fully extracted) (Cover page; Article XI, Section 9)

Setbacks / home size

Article XI, Section 2 addresses building setbacks and house location (specific rules not extracted) (Table of Contents, Article XI, Section 2)

Maintenance

Owner responsible for maintenance not assigned to Association; Association responsible for Common Area maintenance (Article VI, Sections 1 and 3)

Insurance

Association shall procure and maintain adequate liability insurance covering Association and Members (Article VI, Section 3(ii))

Use restrictions

Dwelling/Unit designated and intended for use and occupancy as a residence by a single family (Article I, Section 15)

Voting & meetings

Class A Members (owners of all lots except Declarant/Developer): 1 vote per lot; Class B Member (Declarant): 19 votes per lot owned; Class C Member (Builder): 1 vote per lot owned (Article III, Section 2)

Amendments

Article XII, Section 2 addresses term and amendment (specific procedure not extracted) (Table of Contents, Article XII, Section )

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