Jacobs Reserve Property Owners Association Inc

Key facts from Jacobs Reserve Property Owners Association Inc's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential planned community with homeowners association (Recitals B and C)

Legal name

Jacobs Reserve Property Owners Association Inc

Units / lots

22 initially created; Declarant has right to establish additional Lots (Section 1.20)

Developer / declarant

James E. Allen, LLC, a North Carolina limited liability company (Preamble)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Section 1.24)

Assessments & dues

Board of Directors fixes amount of monthly Regular Assessment at beginning of each calendar year; based on proportion each Lot bears to aggregate number of Lots, excluding Declarant-owned Lots (Sections 5.5.1, 5.5.4)

Special assessments

Special Assessments are established by Section 5.2 (intentionally left blank in this document); due 30 days after billing (Sections 1.33, 5.6)

Collections & liens

Unpaid assessments become continuing lien on Lot; may be foreclosed like mortgage; priority over later liens except real estate taxes and bona fide first mortgages filed before lien docketed; includes attorneys' fees and costs (Sections 5.10, 5.11)

Reserves & fees

Common Expenses include reserve funds established by Association; Common Surplus may be applied to reserve (Sections 1.13, 5.7)

Pets

Yes, limited to two dogs, two cats, or one of each, or two other household pets (Section 10.7)

Leasing & rentals

Yes, with Board approval and conditions (Section 10.13)

Parking & vehicles

No parking of Special Vehicles (trailers, RVs, boats, trucks over 3/4 ton, etc.) unless in garage with door closed; max 4 operative vehicles per Lot; inoperative vehicles only in garage with door closed; no auto maintenance outside garage (Section 10.4)

Fences

Fences require prior written approval; no fence or electric fence on Common Area without Board consent (Sections 9.1, 10.7)

Architectural approval

Yes, for any building, fence, electric pet fence, sidewalk, drive, mailbox, or other structure or improvement visible from outside; also exterior changes including color (Section 9.1)

Solar & roof

Exterior color changes require approval; no specific color restrictions stated (Section 9.1)

Home business

Owner may use portion of Dwelling Unit for office or studio (other than music/dance studio) if activities do not interfere with quiet enjoyment or increase traffic (Section 10.2)

Signs & flags

Only standard 'For Sale' or 'For Rent' signs in window; other signs visible from outside prohibited without Board consent; Declarant/Board may remove violating items (Section 10.11)

Maintenance

Owner responsible for maintenance of their Dwelling Unit, including roof (implied); not explicitly stated (Section 4.7.1)

Insurance

Deductible agreed by Board; Owner causing damage responsible for lesser of deductible or repair cost (Sections 7.1.2, 7.7)

Use restrictions

Each Lot shall be used only for residential purposes unless Board authorizes other use; no business, trade, industry, occupation or profession of any kind (Section 10.2)

Voting & meetings

Each Member has one vote per Lot owned; Class A Members not entitled to vote until expiration of Development Period; multiple owners of a Lot must agree on vote, otherwise no vote cast (Sections 4.5.1, 4.5.3)

Amendments

Not explicitly stated in this document; Declaration may be amended as set forth herein (reference only) (Preamble)

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