Norwood Ridge Subdivision

Key facts from Norwood Ridge Subdivision's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

single-family residential subdivision (WHEREAS, Declarant desires to create on )

Developer / declarant

Norwood Ridge Partners, LLC (by Norwood Ridge Partners, LLC, a South )

Governing law

South Carolina Uniform Arbitration Act, Section 15-48-10 et seq. (THIS DECLARATION IS SUBJECT TO ARBITRATI)

Assessments & dues

Initial annual assessment: $150.00 per Class A Lot; Maximum Annual Assessment: $200.00 per Class A Lot. (Article V, Section 3(a): The initial ass)

Special assessments

Association may levy special assessments for capital improvements, debt repayment, or any other purpose, with same member assent as for exceeding 10% annual increase (i.e., budget ratification process). (Article V, Section 4)

Collections & liens

All unpaid assessments, late charges, interest, attorneys fees, and costs constitute a continuing lien on the Lot. Association may foreclose. Monetary fines also constitute a lien. (Article V, Sections 1 and 9; Article XII)

Reserves & fees

Late charge as Board establishes for assessments not paid within 10 days after due date. (Article V, Section 9: An assessment not )

Signs & flags

One 'For Sale' or 'For Rent' sign not exceeding 36" x 24". Political signs up to 10 sq ft, erected no earlier than 60 days before election, removed within 2 days after. No signs on Common Area without Association consent. Declarant/Builder (Article XI, Section 9)

Use restrictions

No trade, business, profession or commercial activity on any Lot; exception for Declarant/Builder sales, construction, and real estate showing. (Article XI, Section 1)

Voting & meetings

Class A Lots: one vote per lot; Class B Lots (Declarant): nine votes per lot. Class B converts to Class A upon earliest of (i) Declarant no longer owning lots, (ii) written waiver, or (iii) December 31, 2010. (Article III, Section 2)

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