Parksquare

What Parksquare's governing documents say

This is a supplementary declaration for Phase 7B of Sunset Ridge, a planned community in Holly Springs, NC, that adds specific rules for certain lots, including three townhome lots (TH-1, TH-2, TH-3). It supplements a master declaration and applies to lot owners, setting design standards, assessments, and use restrictions.

• What this document covers: This is a supplementary declaration that adds rules for specific lots in Phase 7B, including townhome lots TH-1, TH-2, TH-3, and certain detached lots (836-838, 844). It does not replace the master declaration but adds to it.
• Minimum home size: Any main structure on a lot must have at least 1,650 square feet of floor area, excluding one-story open porches and garages.
• Design and setbacks: Townhome lots (TH-1, TH-2, TH-3) must be 2 to 3 stories, with front setbacks of 5-15 feet, side setbacks of at least 5 feet, and rear setbacks of at least 20 feet. Other specified lots (836-838, 844) have front setbacks of at least 15 feet, side of 5 feet, and rear of 25 feet. Minor deviations of 10% or less are allowed, and the declarant can waive setbacks.
• Assessments and townhome autonomy: For townhome lots, the annual assessment is $70 per month per dwelling unit in the first year. Townhome owners pay a one-month assessment as an initial reserve contribution at closing. Townhome owners have sole discretion over expenditures that apply exclusively to their units, including special assessments.
• Exterior maintenance and insurance: The association provides exterior maintenance for townhome units, including roofs, gutters, landscaping, and exterior surfaces, funded by their assessments. Townhome owners must insure their units for at least 90% of replacement value and name the association as an additional insured.
• Architectural review: All improvements must be approved in writing by the Architectural Review Board before construction begins. A foundation survey must be submitted after the foundation is complete. Construction must be completed within nine months of final approval.
• Leasing and rentals: Owners may rent out their entire dwelling unit, but no portion of a unit may be leased separately, and no other building on the lot may be rented separately.
• Parking and vehicles: Each dwelling unit must have an enclosed garage for at least two full-sized vehicles and off-street paved parking for two automobiles. No trailers, RVs, motor homes, or non-operative vehicles may be stored on lots, with limited exceptions for one pickup truck or one non-commercial van.

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.