Shearon Farms Master Owners Association Inc

Key facts from Shearon Farms Master Owners Association Inc's documents

Community type

Townhome Owners Association II, Inc. (sub-association within Shearon Farms Master Owners Association, Inc.) (Preamble)

Legal name

Shearon Farms Townhome Owners Association II, Inc.

Developer / declarant

Shearon Farms Development LLC, a North Carolina limited liability company (Preamble)

Governing law

North Carolina Planned Community Act (N.C.G.S. Chapter 47F) (Article II, Section 1(c) (47F-3-112); Ar)

Assessments & dues

Board prepares and approves annual budget at least 60 days before fiscal year; budget ratified by Members unless majority (or 90% if increase ≤10%) vote to reject. (Article IV, Section 1)

Special assessments

May be levied for unbudgeted or excess expenses; requires majority Board vote and Declarant consent during Declarant Control Period. (Article IV, Section 2)

Collections & liens

Unpaid assessments become lien on Lot when claim of lien filed; foreclosure per N.C.G.S. § 47F-3-116. (Article IV, Section 5)

Reserves & fees

Budget must include contributions to reserve fund for repair/replacement of capital assets, based on separate reserve budget. (Article IV, Section 1)

Pets

Dogs, cats, pet birds, and other household pets allowed; not for commercial purposes; must be controlled per ordinances and not a nuisance. (Article IX, Section 4)

Leasing & rentals

Lot Owners may lease entire Lot; all leases must be in writing with minimum term of six months. (Article IX, Section 21)

Parking & vehicles

No boats, trailers, campers, motorhomes, trucks, or tractors parked on any Lot, Common Elements, or rights-of-way, except inside enclosed garage or specified storage area; delivery/maintenance vehicles permitted; contractor vehicles during (Article IX, Section 13)

Architectural approval

No site preparation or construction/alteration without written approval of Board or Architectural Committee. (Article VI)

Solar & roof

Solar collectors permitted only with Board permission as to design, appearance, and location; must not prevent reasonable use. (Article IX, Section 18)

Home business

No trade or business on any Lot except as approved by Board on case-by-case basis; must be conducted entirely within house or garage and not create nuisance, excessive noise, traffic, odors, or unpleasant appearances. (Article IX, Section 2)

Signs & flags

No signs except as allowed by Association or required by local government; For Sale/For Rent signs permitted; political signs permitted no earlier than 45 days before election and no later than 7 days after; max size 24x24 inches. (Article IX, Section 9)

Maintenance

Association: roofs, gutters, downspouts, exterior building surfaces, trees, shrubs, grass, walks, mailboxes, fences installed by Declarant/approved, exterior post lights (excluding electricity), other exterior improvements. Owner: glass sur (Article VIII, Section 1)

Insurance

Association maintains public liability and property damage insurance (min $1,000,000 per occurrence), cross-liability endorsements, fidelity bond, and other coverage as determined. (Article XI, Section 1)

Use restrictions

Property shall be used only for single-family residential purposes and incidental/accessory purposes. (Article IX, Section 2)

Voting & meetings

Class A: one vote per Lot owned by Owners (except Declarant). Class B: Declarant has six votes per Master Plan Lot owned or under contract. Class B converts to Class A when Class A votes equal or exceed Class B votes, or 10 years from recor (Article III, Section 2)

Amendments

May be amended with consent of Owners entitled to at least 80% of votes; during Declarant's Development Period, Declarant consent required; certain amendments require governmental review. (Article XIV, Section 3)

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