102 2000 APR-7 PM 2:46 RECORTED AND VERIFIED MARY SUI0OTS REGLUGER AF DEEDS STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER BOOK PAGE 2 7 3 1 0 0 3 0 8. DECLARATION OF COVENANTS, CONDITIONS, AND RESTRICTIONS OF LAKE RENAISSANCE THIS DECLARATION OF COVENANTS, CONDITIONS, AND RESTRICTIONS OF LAKE RENAISSANCE, made this the 4th day of April, 2000, by BARR LAKE, LLC, hereinafter interchangeably referred to as "Owner" or "Developer", WITNESSETH: 000123 That Whereas, Owner is the owner and developer of certain property located in Masonboro Township, New Hanover County, North Carolina as is hereinafter described; and the Whereas, the Owner desires to insure the use of hereinafter described property for attractive residential purposes only, to prevent the impairment of the attractiveness of the property, to maintain the desired tone of the community, and thereby to secure to each lot owner the full benefit and enjoyment of his or her home with no greater restriction upon the free and undisturbed use of his or her lot than is necessary to ensure the same advantages to the other lot owners; NOW THEREFORE, the undersigned Owner does hereby covenant, agree, and declare to and with all persons, firms, or corporations owning or hereafter acquiring any lots made subject to this Declaration that all of the properties described herein shall be held, sold, and conveyed subject to the following easements, restrictions, covenants, and conditions which are for the purpose of protecting the value and desirability of, and which shall run with the real property, and be binding on all parties having any right, title, or interest in the said properties or any part thereof, their heirs, successors and assigns, and shall inure to the benefit of each owner thereof, to-wit: 1.
ng on all parties having any right, title, or interest in the said properties or any part thereof, their heirs, successors and assigns, and shall inure to the benefit of each owner thereof, to-wit: 1.
SCOPE OF DECLARATION This Declaration of Restrictions shall apply to all lots in LAKE RENAISSANCE, as shown upon a map recorded in Map Book 39 at Page 31S of the New Hanover County Registry.
029563 27 1 Dan Mahn 2.
BOOK 2731 PAGE 0031 LOT USE No lct located within the subdivision shall ever be used for business, manufacturing, commercial, or professional purposes, it being intended that all lots shall be used for residential purposes only; provided, however, that the Developer may convert any lots or any other property subject to these restrictions to use as a roadway. Developer reserves the right to construct any type of multi-family residential development as allowed by law, and to record such plats as necessary to replat any lots that shall be converted to multi-family use.
3. SETBACK REQUIREMENTS Since the establishment of standard inflexible building setback lines for the location of units on lots tends to force construction of units directly to the side of other units with detrimental effects on privacy, views, preservation of important trees and other vegetation, ecological, and related considerations, no specific setback lines are established by these restrictions. In order to assure, however, that the foregoing considerations are given maximum effect, the Developer reserves the right to control and approve absolutely the site and location of any structure upon any lot. At a minimum, such setbacks shall comply with the minimum setbacks required by the applicable governmental agency having authority over setback matters.
4.
and location of any structure upon any lot. At a minimum, such setbacks shall comply with the minimum setbacks required by the applicable governmental agency having authority over setback matters.
4.
TEMPORARY STRUCTURES AND OTHER STRUCTURES Unless specifically approved in writing by the Developer or the Association as hereinafter provided, no structure of a temporary character, trailer, basement, tent, shack, garage apartment, barn, or other outbuilding shall be erected on any lot or used as a residence thereon. This restriction shall not be applicable to a temporary construction trailer used by a builder while a residence is being built on the lot, so long as such trailer is not used as a residence or living quarters.
In the event that the Developer or the Association shall approve such placement of a structure as herein provided, the structure shall be constructed of the same materials and be of the same design as the residence located on that lot. Should such structure encroach upon any of the common areas or limited common areas, there shall be an easement reserved upon such common areas or limited common areas for the location of such structure as hereinafter provided.
2 BOCK PAGE 2731 0032 5.
BUILDING DESIGN The design of all buildings erected or moved onto any lot shall be subject to the approval of the Developer, or of some person or persons designated by the Developer to pass upon said designs. Upon written request of a lot owner for approval of plans, the Developer or its duly authorized agent shall have ten days within which to approve or disapprove such plans. In the event of failure to approve or disapprove such plans within ten days, such approval will not be required; but the design of the proposed
n days within which to approve or disapprove such plans. In the event of failure to approve or disapprove such plans within ten days, such approval will not be required; but the design of the proposed building must be in harmony with the existing structures in this subdivision.
6.
BUILDING CONSTRUCTION The construction materials used for any residence or other structure upon any of the lots must be approved in writing by the Developer or by such person or entity as the Developer may direct. No exterior colors may be changed without the written permission of the Developer, or of such person or entity as shall be authorized by the Developer to approve a change of the exterior colors. It is the express intention of the Developer to maintain a uniform plan of development with respect to design, size, type, cost, and general appearance of all structures upon the lots in the subdivision.
with 7. A. MAINTENANCE OF LOT, NUISANCES It shall be the duty of each homeowner or occupant to keep his or her property (or that of the occupant's landlord) in a neat and tidy condition, well maintained, or no unsightly debris litter or the like in Νο view.
homeowner or occupant shall place on his lot, or cause or allow to be placed on his lot, any kind of statue, sculpture, "objet d'art", yard decoration, artificial wildlife, or any other similar type of object. No furniture intended for interior use shall be allowed on the front porch of any house, and only wicker, rattan, wood, or wrought iron exterior furniture shall be allowed on the front porch of any house in the subdivision. Any such furniture placed on the front porches shall be well maintained and kept in good repair. No noxious or offensive trade or activity shall be carried on or
porch of any house in the subdivision. Any such furniture placed on the front porches shall be well maintained and kept in good repair. No noxious or offensive trade or activity shall be carried on or maintained on any lot or on any common area, nor shall any activity be conducted which constitutes an annoyance or nuisance to the neighborhood. Any oil stains or similar spills on driveways or other roadways shall be immediately cleaned up or removed by the lot owner responsible for such stain or spill. If such stain or spill is not immediately cleaned up or removed, the Association shall clean up or remove the stain or spill and the cost of such cleanup shall be assessed against and collected from such 3 BOOK PAGE 273 1 0 0 3 3 assessments are responsible lot owner in the same manner as assessed and collected as herein provided.
B. PARKING All resident's vehicles must be parked in driveways or garages and no resident's vehicles may be parked at any time on lawns, roadways, or common areas. No vehicle shall be allowed to block any street, roadway, or other access area.
Residents may not allow more than three (3) permanent vehicles to be parked at any residence except with specific written approval of the Developer or the Association.
C. JUNK VEHICLES AND TRACTOR TRAILERS No inoperable vehicle or vehicle without current registration, current state inspection sticker, current license plate, and current insurance will be permitted on the premises, and no tractor-trailers will be permitted on the premises. The Association shall have the right to have all such vehicles towed away at the owner's expense and such towing shall not be considered a trespass.
D. TRASH RECEPTACLES, LAWN FURNITURE, TOYS, PERSONAL PROPERTY
ation shall have the right to have all such vehicles towed away at the owner's expense and such towing shall not be considered a trespass.
D. TRASH RECEPTACLES, LAWN FURNITURE, TOYS, PERSONAL PROPERTY All trash receptacles, lawn furniture, toys, lawnmowers, bicycles, grills, stored materials, and other such similar personal property must be kept and stored in the garage or behind the house and screened from view.
E. EXTERIOR LIGHTS All light bulbs or other lights installed in any fixture located on the exterior of any building or any lot shall be clear, white, or non-frost lights or bulbs. No colored bulbs or lights will be allowed except during normally recognized holiday periods and the use of such colored bulbs during holiday periods must not be used in such manner as to constitute a nuisance or annoyance to the neighborhood. The Board of Directors of the Association shall determine when such use constitutes a nuisance or annoyance to the neighborhood.
F. VEHICLE REPAIRS No repairs to any vehicle may be made in driveways unless such repairs may be completed in one day. During the course of repair work, no vehicle shall be permitted to remain in any driveway on any type of jacks or stands more than one day.
G. RECREATIONAL VEHICLES/BOATS Boats, motor boats, personal watercraft, campers, recreational vehicles, trailers, recreational trailers, motor homes, or similar type vehicles shall only be 4 BOOK PAGE 27 31 0 0 3 4 permitted to remain on a lot if such vehicles/boats are parked in the garage out of sight from any street.
8.
ANIMALS No animals, livestock, or poultry of any kind shall be raised, bred, or kept on any lot in the subdivision, except that dogs, cats, or other household pets may be kept for the purpose of
t.
8.
ANIMALS No animals, livestock, or poultry of any kind shall be raised, bred, or kept on any lot in the subdivision, except that dogs, cats, or other household pets may be kept for the purpose of providing companionship for the private family. Animals are not to be raised, bred, or kept for commercial purposes or for food. It is the purpose of these provisions to restrict the use of any lot so that no person shall quarter on said lots cows, horses, bees, hogs, sheep, goats, guinea fowls, chicks, geese, rabbits, chickens, turkeys, skunks, snakes, or any other animal that may interfere with the quietude, health, or safety of the community. No more than two (2) household pets will be permitted on any lot. Pets must be restrained or confined inside a fenced area or within the house. It is the pet owner's responsibility to keep their lot clean and free of pet debris. All animals must be properly tagged for identification, and further, must be kept on a leash unless such animal is confined within a fenced area. When such animals are not confined within a fenced area of the owner's yard, it is the pet owner's responsibility to remove any pet debris left by their pet upon any of the lots or common areas within the subdivision. Any costs incurred by the other lot owners or the Association as hereinafter set out, for the removal of pet debris left by the pet of a lot owner or occupant upon any lot or upon any part of the common areas shall be a charge against the pet owner's lot and shall be assessed against that individual lot owner as a special assessment and subject to the regulations regarding liens and assessments as hereinafter set forth.
9.
FENCING Unless specifically approved in writing by the Developer, or by such person or entity as the Developer may
bject to the regulations regarding liens and assessments as hereinafter set forth.
9.
FENCING Unless specifically approved in writing by the Developer, or by such person or entity as the Developer may specifically authorize, there shall be no fencing allowed in the subdivision. In the event that any fence installed by Developer should encroach upon any common areas or limited common areas, an easement is hereby reserved by the Developer over such common areas or limited common areas for the maintenance of such fence.
10. UTILITY EASEMENTS The Developer reserves for itself, its successors, and assigns, an easement in and right at any time in the future to grant a right of way under, over, and along the side, rear, and front property lines of each and every lot in the Subdivision, for the installation and maintenance of poles, lines, 5 BOOK 27 31 PAGE 0 0 3 5 conduits, pipes, and other equipment necessary to or useful for furnishing electric, power, gas, telephone service, cable television, or other utilities including water and sewer service.
Also, easements for drainage and utilities are reserved as shown on the recorded plat of the Subdivision. Developer reserves the right to make changes in and additions to the above easements for the purpose of most efficiently and economically installing improvements.
11. LOT GRADING The general grading, slope, and drainage plan of a lot may not be altered without the express written approval of the New Hanover County authorities and Developer, and other appropriate agencies having authority to grant such approval.
12. EXTERIOR MAINTENANCE Each lot owner shall maintain the exterior of all buildings, walls, and other improvements on his lot in good condition and repair, and shall replace worn and rotten
approval.
12. EXTERIOR MAINTENANCE Each lot owner shall maintain the exterior of all buildings, walls, and other improvements on his lot in good condition and repair, and shall replace worn and rotten parts and shall regularly repaint all painted surfaces and shall not permit the roofs, rain gutters, downspouts, exterior walls, windows, doors, or other exterior portions of the improvements to deteriorate in an unattractive manner. The maintenance referenced herein shall be supervised and regulated by the LAKE RENAISSANCE HOMEOWNERS ASSOCIATION, INC., as hereinafter provided and hereinafter referenced as "the Association". In the event that the lot owner shall fail to comply with these maintenance requirements, the Association is hereby expressly authorized, and the lot owner hereby expressly agrees, that said maintenance and/or repair may be effected by the said Association with the expenses incurred for the same to be assessed against the individual lot owner as a special assessment and subject to the regulations regarding liens and assessments as herein set forth.
In order to maintain an attractive subdivision, the Association hereinafter referred to may adopt a policy, in its sole discretion, to cause the exterior of each house to be pressure washed at such times as the Association may determine, the cost of such pressure wash to be paid by the Association from the Association dues paid to the Association.
13. LANDSCAPING MAINTENANCE AND IRRIGATION (a) To provide for a uniform scheme of landscaping within the Subdivision, all front and side yard areas up to the rear setback 6 BUJA LAGE 2731 0036 of the house, and the berm and vegetative easement located along the rear lot line on some lots within the subdivision shall be
l front and side yard areas up to the rear setback 6 BUJA LAGE 2731 0036 of the house, and the berm and vegetative easement located along the rear lot line on some lots within the subdivision shall be maintained by the LAKE RENAISSANCE HOMEOWNERS ASSOCIATION, INC.
Except for that landscaping provided by the individual owners in the back yards, which shall be maintained by the individual lot owners, no landscaping other than that provided by the Developer and/or the Association shall be allowed. No lot owner may plant, disturb, cut, or remove any vegetation on the berms or vegetative easements or disturb the berms/vegetative easements located on any lot within the subdivision.
(b) It is the intent of the Owner and Developer to create a "Village" effect in the landscaping scheme for the subdivision with a continuity of landscaping where individual lot lines are not emphasized. To create this effect, Developer shall install a central irrigation system for the purpose of maintaining the landscaping and lawn areas in the front and side yards of each lot, which system shall be owned, operated and maintained by the Association, and the water for such system shall be pumped from Lake Renaissance. However, in order to provide for a total irrigation scheme of all of the landscaped areas in the front yards, side yards, and common areas, thereby benefitting all of the lot owners, such irrigation system shall be installed by Developer as necessary to provide complete irrigation coverage without regard to specific lot lines. Because of such installation, some of the water sprayed onto a lot may reach another lot, or flow from one lot to an adjacent lot. Therefore, an easement is hereby reserved across, and onto each lot for any overspray or flow of water
e of the water sprayed onto a lot may reach another lot, or flow from one lot to an adjacent lot. Therefore, an easement is hereby reserved across, and onto each lot for any overspray or flow of water from any irrigation sprinkler that shall reach on, upon, or over any lot in the subdivision. An easement is also reserved over, across, and upon every lot in the subdivision for the installation, maintenance, inspection, and operation of sprinkler heads, manifolds, pipes, conduits, pumps, cables, wiring, and any other equipment necessary for the installation, maintenance, inspection, and operation of the central irrigation system within the subdivision, and such easement shall include the right of access over, across, and upon any lot for any agent or employee of the Developer, the Association, and any company that may be employed to install, operate, inspect, and maintain such system. The Association shall be responsible for the operation, maintenance, repair, and replacement of the system or its components as necessary for proper irrigation of the landscaping. However, in the event that any lot owner, guest or tenant of such owner, or over, 7 BOOK PAGE 2731 0037 family member of such owner should damage the system in any manner, that lot owner shall be individually responsible and liable for the costs incurred by the Association to repair such damage.
(c) Until control of the Association is turned over to the lot owners by the Developer pursuant to this Declaration, the Developer shall determine the schedule for operation of the irrigation system. After control of the Association is turned over to the lot owners pursuant to this Declaration, the Directors of the Association shall determine the said schedule for operation of the irrigation system.
ter control of the Association is turned over to the lot owners pursuant to this Declaration, the Directors of the Association shall determine the said schedule for operation of the irrigation system.
(D) In the event that any lot owner should desire to install an irrigation system in their back yard, such installation shall be at the discretion of the lot owner and the Association shall not in any manner be responsible for any costs incurred for such installation or the operation of such system. The lot owner installing such system shall not be allowed to use Lake Renaissance as a water source and such system must operate from the municipal water system which supplies potable water to the lot.
14. A. DIRECTIONAL SIGNS The Developer reserves for itself, its successors and assigns, a temporary easement to place directional signs upon any of the lots in said Subdivision, in order to assist prospective purchasers in locating other lots or houses which are for sale in the Subdivision, or in other future subdivisions coming out of adjoining lands. The right to place and maintain such signs shall terminate five (5) years from the date of this instrument.
B. "FOR SALE" and "FOR RENT" SIGNS Except for signs placed by the Developer, or with the express written permission of the Developer, no "For Sale" or "For Rent" signs shall be allowed on any lots, in or on any houses, or on any of the common areas or limited common areas within the subdivision.
15. STREET LIGHTING The Developer reserves the right to subject the real property in this Subdivision to a contract with Carolina Power & Light Company for the installation of underground electric cables and/or the installation of street lighting, either or both of which may require an initial payment and/or a continuing monthly
Power & Light Company for the installation of underground electric cables and/or the installation of street lighting, either or both of which may require an initial payment and/or a continuing monthly payment to Carolina Power & Light Company by the owner of each lot.
8 BOOK PAGE 27 31 0038 16.
MAILBOXES AND NEWSPAPER BOXES Each lot in the Subdivision shall have one (1) mailbox and one (1) newspaper box, and these boxes shall be provided by the Developer. The maintenance of such boxes shall be the responsibility of the Owners' Association as hereinafter provided.
17.
WINDOW COVERINGS To insure consistency and attractiveness within the Subdivision, white window treatments must be installed in the front and side windows of all homes within ten (10) days of occupancy, such that the total view of all front and side windows from the outside of the house is white window coverings. Window treatments inside of the house and not visible from the outside of the house or unit in the discretion of the homeowner.
Bedsheets, towels, blankets, etc. are not considered acceptable window treatments.
are 18. EXTERIOR ANTENNAE Exterior television or radio antennae, or television or radio satellite dishes are not permitted within the Subdivision, except with written permission of the Developer or the Association.
19. CLOTHESLINES The outdoor drying or airing of clothes and the erection of outdoor clotheslines or similar devices on any lot in the Subdivision shall require the approval of the Developer or the Association, and shall only be allowed within a screened area adjacent to the house which is thoroughly concealed or screened from public view.
20. FUEL TANKS AND STORAGE RECEPTACLES No fuel tanks or similar storage receptacles located on any lot may be exposed to public
to the house which is thoroughly concealed or screened from public view.
20. FUEL TANKS AND STORAGE RECEPTACLES No fuel tanks or similar storage receptacles located on any lot may be exposed to public view. Any such receptacles shall require the approval of the Developer or the Association, and shall only be allowed within a screened area adjacent to the house which is thoroughly concealed or screened from public view.
21.
WATER AND SEWAGE (a) All water to be used in the Subdivision for domestic purposes shall be obtained from the community water system, unless other sources are approved by the City-County Board of Health and the owner of the community water system, or their successors. An eight (8) foot radius from each water meter shall be an easement 9 BOOK PAGE 2 7 3 1 0039 for maintenance and repair of such meter. Additionally, the front ten (10) feet of each lot is hereby reserved for utility easements.
The Developer hereby grants an easement to the community water system along all streets and roads in the Subdivision for the purpose of installing, maintaining, repairing, and replacing water lines.
(b) Sewage disposal systems shall be only into the New Hanover County sewage collection system.
the (c) The Developer shall install a master lawn irrigation system for the common areas of the Subdivision, the maintenance, inspection, and operation of such system shall be responsibility of the Owners' Association as hereinafter provided.
22. ACCESS, MAINTENANCE, AND CONSTRUCTION EASEMENTS (a) The Association, acting through its officers, agents, servants, and/or employees shall have the right of unobstructed access at all reasonable times to all properties as may be reasonably necessary to perform the exterior maintenance provided for by this Declaration.
/or employees shall have the right of unobstructed access at all reasonable times to all properties as may be reasonably necessary to perform the exterior maintenance provided for by this Declaration.
(b) Easements are reserved over those portions of the Common Areas and Limited Common Areas and facilities that may be necessary or required to accommodate overhanging eaves or other cantilevered construction which may encroach upon the Common Areas or Limited Common Areas, or the air and light space above such Common Areas.
(c) Each lot or unit and all Common Areas and facilities and Limited Common Areas are hereby subjected to an easement for the repair, maintenance, expansion, reduction, inspection, removal, relocation, ΟΙ other service of cr to all gas, electricity, television, telephone, water, plumbing, sewer, utility, drainage, or other Common Areas and facilities, whether or not the cause of any or all of those activities originates on the lot or unit in which the work must be performed.
(d) Each lot or unit, and the property included in the Common Area shall be subject to an easement for encroachments created by construction, settling, and overhangs for all buildings, structures, and other improvements constructed by Developer, 10 BOOK PAGE 2731 0 0 4 0 including but not limited to, sidewalks, walks, paths, patios, decks, fences, parking areas and parking pads, driveways, stoops, porches, roofs, outbuildings, and other similar appurtenances. A valid easement for such encroachments and for the maintenance of same, so long as such encroachments stand, shall and does exist.
(e) In the event that ingress or egress to any lot or unit is through or across any common areas, such common areas are hereby subjected to an access easement for such owners' ingress, egress,
exist.
(e) In the event that ingress or egress to any lot or unit is through or across any common areas, such common areas are hereby subjected to an access easement for such owners' ingress, egress, and regress to and from such lot or unit.
the (f) All easements and rights described herein are easements appurtenant, running with the land, and shall be binding on Developer, its successors and assigns, and any owner, purchaser, mortgagee, and other person having an interest in said land, or any part or portion thereof, regardless of whether or not reference to said easement is made in the respective deeds of conveyance, or in any mortgage or trust deed or other evidence of obligation, to the easements and rights described in this Declaration.
24. OWNERS ASSOCIATION (a) To provide for the maintenance, repair, upkeep and replacement of the subdivision sign, irrigation systems, mail and paper boxes, street signs, walkways, parking areas, stormwater facilities, other amenities, common areas, and, except as herein provided, the landscaped areas of the lots in the Subdivision, the Developer has formed the LAKE RENAISSANCE HOMEOWNERS ASSOCIATION, INC., a non-profit corporation organized pursuant to Chapter 55A of the General Statutes of North Carolina. The Association shall also be responsible for providing any necessary liability insurance.
The Articles of Incorporation for said corporation are recorded in Book at Page of the New Hanover County Registry. The ByLaws for said corporation are attached hereto as Exhibit "A", and are incorporated herein by reference.
(b) Every owner of a fee simple title to a lot within the Subdivision shall be deemed to own, possess and have accepted: (1) A Class "A" membership(s) in the LAKE RENAISSANCE
ated herein by reference.
(b) Every owner of a fee simple title to a lot within the Subdivision shall be deemed to own, possess and have accepted: (1) A Class "A" membership(s) in the LAKE RENAISSANCE HOMEOWNERS ASSOCIATION, INC., (Association), appurtenant to his lot (s); 11 BOOK 2731 PAGE 0 0 4 1 (2) An undivided equal interest with all other owners, for each membership in the Association owned, in the Association and all of its assets; (3) A right and easement of enjoyment, equal to that of all other owners, in and to the common areas and amenities, which is appurtenant to the title to each lot, subject to the right of the Association to dedicate or transfer all or any part of the common areas and amenities, for such purposes and subject to such conditions as the Association may determine, acting by and pursuant to the provisions of its duly enacted By-Laws.
(4) The duty of complying with and abiding by all of the provisions of these Articles, the By-Laws of the Association and the Rules and Regulations of the Association, including the payment of dues, assessments, and penalties as provided elsewhere herein.
(c) The membership: Association shall have two classes of voting (1) Class "A". Class A members shall be all lot and unit owners with the exception of the Developer and shall be entitled to one vote for each lot or unit owned. When more than one person holds an interest in any lot or unit, all such persons shall be members. The vote for such lot or unit shall be exercised as they among themselves determine, but in no event shall more than one (1) vote be cast with respect to any lot or unit.
(2) Class "B". The Class B member shall be the Developer, and Developer shall be entitled to three (3) votes for each lot or
event shall more than one (1) vote be cast with respect to any lot or unit.
(2) Class "B". The Class B member shall be the Developer, and Developer shall be entitled to three (3) votes for each lot or unit owned. The Class B membership shall cease and be converted to Class A membership on the happening of either of the following events, whichever occurs earlier: A. When 75% of the units are deeded to the homeowners, or B. On December 31, 2005.
24. LIENS AND ASSESSMENTS The Association has heretofore been given the authority to administer the operation and management of the common areas and the amenities of the property, it being 12 BOOK 2731 PAGE 004 2 recognized that the delegation of such duties to one entity is in the best interests of the owners of all lots subject hereto to properly administer the operation and management of the common areas and amenities. The Association will incur, for the mutual benefit of all the owners of such lots, costs and expenses sometimes herein referred to as "common expenses". To provide the funds necessary for such proper operation, management and capital improvement, the Association has heretofore been granted the right to make, levy and collect assessments against the members of the Association and their lots. In furtherance of this grant of authority to the Association to make, levy and collect assessments to pay the costs and expenses for the operation of, the management of, and for capital improvements to the common areas, which for the purposes of these By-Laws shall be deemed to include, but not be limited to, the common areas and amenities, and all other improvements, the following shall be operative and binding upon the owners of all lots: (a) The owner of any lot subject hereto, with the exception
ed to, the common areas and amenities, and all other improvements, the following shall be operative and binding upon the owners of all lots: (a) The owner of any lot subject hereto, with the exception of the Developer, by acceptance of a Deed therefor, whether or not it shall be so expressed in such deed, is deemed to covenant and agree to pay to the Association: (1) annual assessments or charges; and (2) special assessments for capital improvements or special assessments as established by the Board of Directors of the Association, such assessments to be established and collected as hereinafter provided.
(b) The annual and special assessments, together with the interest, costs, and reasonable attorney's fees, if any, shall be a charge on the lots and shall be a continual lien upon each lot against which they are levied. Each such assessment, together with interest, costs and reasonable attorney's fees, shall also be the personal obligation of the person or entity who is the owner of such lot at the time when the assessment falls due. The personal obligation for delinquent assessments shall not pass to successor in title unless expressly assumed by him.
any (c) The Developer shall not be required to pay regular annual assessments on any lot owned by it prior to its sale.
13 BOOK 2731 PAGE 0043 as (d) The assessments levied by the Association shall be used exclusively to promote the recreation, health, safety and welfare of the residents in the properties and for the improvement, maintenance, and repair of all easements, utilities, stormwater facilities, including ponds, irrigation systems, subdivision signs, lake, pier, mail and paper boxes, yard areas, vegetative easements, berms, parking areas, walkways, and the other common areas,
ater facilities, including ponds, irrigation systems, subdivision signs, lake, pier, mail and paper boxes, yard areas, vegetative easements, berms, parking areas, walkways, and the other common areas, herein provided. The funds arising from said assessments or charges, may be used for any or all of the following purposes: Maintenance, repair, and improvement of the common areas, the lake, irrigation system, drainage and utility easements, stormwater facilities (including ponds), and rights of ways; maintenance of the parking areas, walkways, pier, vegetative easements, berms, and yard areas as herein provided, enforcing these restrictions, and, in addition, doing any other things necessary, proper, or desirable in the opinion of the Association to keep the property in neat and good order and to provide for the health, welfare and safety of the owners and residents of the subdivision.
(e) The annual assessments for each calendar year shall be established by the Board of Directors, and may be increased by the Board of Directors for any calendar year without approval by the membership by an amount not to exceed ten percent (10%) of the maximum annual assessment of the previous year. The maximum annual assessment for any calendar year may be increased without limit by a vote of two-thirds (2/3) of the Class A members who are voting in person or by proxy at a meeting called for this purpose.
(f) In addition to the annual assessments authorized above, the Association may levy, in any calendar year, a special assessment for purpose of defraying in whole or in part, the costs of any construction, reconstruction, repair or replacement of а capital in improvement located throughout the common areas, provided that any such assessment shall have the assent of two-thirds (2/3)
of any construction, reconstruction, repair or replacement of а capital in improvement located throughout the common areas, provided that any such assessment shall have the assent of two-thirds (2/3) of the vote of the Class A members who are voting in person or by proxy at a meeting duly called for this purpose. All special assessments shall be fixed to the uniform rate for all lots and may be collected on a monthly basis.
(g) Written notice of any meeting called for the purpose of taking any action authorized under Paragraph 24(e) or Paragraph 24 (f) set forth above shall be sent to all members not less that ten (10) days nor more than (60) days in advance of the meeting.
14 BOOK 2731 PAGE 0044 At the first such meeting called, the presence of members or of proxies entitled to cast sixty percent (60%) of all votes of the membership shall constitute a quorum. If the required quorum is not present, another meeting may be called subject to the same notice requirement, and the required quorum at the subsequent meeting shall be one-half (1/2) of the required quorum of the preceding meeting. No such subsequent meeting shall be held more than sixty (60) days following the preceding meeting.
(h) The annual assessments provided for herein shall be collected on a quarterly basis and shall commence as to all lots in the subdivision on the first day of the month following recordation of the Declaration of Restrictions for the subdivision. The first annual assessment shall be adjusted according to the number of months remaining in the calendar year. Upon the closing of a lot subject hereto, there shall be an assessment due for the remainder of the quarter in which the closing occurs, plus the amount of the assessment due for the following quarter.
pon the closing of a lot subject hereto, there shall be an assessment due for the remainder of the quarter in which the closing occurs, plus the amount of the assessment due for the following quarter.
(i) Any assessment not paid within thirty (30) days after the due date shall bear interest at the rate of fourteen percent (14%) per annum from the date due until paid. The Association may bring an action at law against the owner personally obligated to pay the same or foreclose the lien against the lot and interest, costs, and reasonable attorney's fee of such action or foreclosure shall be added to the amount of such assessment.
(j) The lien herein granted unto the Association shall be enforceable from and after the time of recording a claim of lien in the public records of New Hanover County, North Carolina, which claim shall state the description of the lot encumbered thereby, the name of the record owner, the amount due and the date when due.
The claim of lien shall be recordable any time after default and the lien shall continue in effect until all sums secured by said lien as herein provided shall have been fully paid. Such claims of lien shall include only assessments which are due and payable when the claim of lien is recorded, plus interest, costs, and attorney's fees thereon, all as above provided. Such claims of lien shall be signed and verified by an officer or agent of the Association.
Upon full payment of all sums secured by such claim of lien, the same shall be satisfied of record. The lien provided for herein shall be subordinated to the lien of any first mortgage or Deed of Trust and any person, firm, corporation or other entity acquiring 15