Echo Pond Villas

What Echo Pond Villas's governing documents say

Echo Pond Villas is a single-family home community in Wilmington, NC, governed by a homeowners' association (HOA). The rules apply to all lot owners and their tenants, and are designed to maintain property values and a uniform residential character.

• Land use & building type: Lots may be used only for single-family residential purposes. Only one detached single-family dwelling (max 1 story), a garage for up to 2 cars, and an approved accessory building are allowed. 'Single family' means persons related by blood, adoption, or marriage; unrelated persons living together are not permitted.
• Dwelling size: No residential structure may have less than 1,500 square feet of finished, heated living area (excluding basements, porches, breezeways, steps, and garages) without prior written approval from the Architectural Committee.
• Architectural review: All new construction, alterations, or additions (except initial dwellings built by the Declarant that conform to approved plans) require written approval from a 3-person Architectural Committee as to design, harmony, materials, colors, and location. The Committee has 30 days to act; if no suit to enjoin is filed before completion, approval is deemed given.
• Exterior maintenance: The Association is responsible for yard maintenance (trees, shrubs, grass) on each lot. All other exterior maintenance is the owner's responsibility. If an owner fails to maintain, the Association may enter the lot, perform the work, and assess the cost as a special assessment lien against the lot.
• Assessments & fees: Annual assessments are levied per lot, initially capped at $300/year, and may increase up to 5% per year without a membership vote. Increases above 5% require a 2/3 vote of each membership class. Special assessments for capital improvements also require a 2/3 vote. Assessments are due monthly; late payments incur 6% annual interest and a $25 late fee. A working capital fund of 2 months' assessments is collected at initial sale.
• Membership & voting: Each lot owner is a member of the Association. Class A members (all owners except Declarant) get one vote per lot. Class B member (Declarant) gets 3 votes per lot owned, converting to Class A when Class A votes equal Class B votes, or by May 1, 1990, whichever comes first.
• Insurance: The Association obtains property and liability insurance as it determines necessary. Premiums are charged ratably to owners as assessments. Persons handling Association funds must be bonded for at least half the annual assessment plus reserves. Insurance proceeds are held in trust and used first for reconstruction/repair, then distributed to beneficiaries.
• Easements & utilities: Lots are subject to easements for roads, utilities (water, sewer, gas, electric, cable, telephone), and municipal services (fire, mail, garbage, ambulance, police). The Association pays for water and electricity used for common street lights, and those costs are assessed ratably to owners.

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.