A homeowners' association established for the purpose of owning and maintaining common lands and facilities, including conservation, open space, floodplain, stormwater management and drainage facilities, recreation and park areas and other lands which would otherwise be dedicated to the town, shall be in accordance with the following provisions:
A. Membership in any created homeowners' association by all property owners shall be mandatory. Such required membership in any created homeowners' association and the responsibilities upon the members shall be in writing between the association and the individual, in the form of a covenant, with each member agreeing to his liability for his pro rata share of the association's costs, provided that the town shall be a party beneficiary to such covenant and entitled to enforce its provisions.
B. Executed deeds, with restrictions stating that the prescribed use(s) of the lands in the common ownership shall be absolute and not subject to reversion for possible future development, shall be tendered to the town simultaneously with the granting of final subdivision approval.
C. The homeowners' association shall be responsible for liability insurance, municipal taxes, maintenance of land and any facilities that may be erected on any land deeded to the homeowners' association and shall hold the town harmless from any liability.
D. The assessment levied by the homeowners' association shall become a lien on the private properties in the development. The duly created homeowners' association shall be allowed to adjust the assessment to meet changing needs, and any deeded lands may be sold, donated or in any other way conveyed to the town for public purposes only.
E. The homeowners' association initially created by the developer shall clearly describe in its bylaws the rights and obligations of any homeowner and tenant in the development. Before final approval, copies of the bylaws, covenants, model deeds and articles of incorporation shall be submitted to the town.
[Amended 3-25-2002 by Ord. No. 12-2002]
F. The developer shall provide a procedure by which lands will be transferred to the homeowners' association. This schedule shall be based on a percentage of the lots and/or homes sold or occupied. The bylaws of the homeowners' association should include provisions which will ensure that the maintenance responsibilities for the commonly owned land are the obligation of the association.
G. Prior to preliminary approval, the developer shall submit preliminary public water and/or public sewer system plans for the dwelling units in the development. Prior to final approval, the developer shall submit final plans for these systems which shall have been approved by the local and/or County Board of Health and the State Department of Environmental Protection. No certificate of occupancy shall be issued for any building or part thereof until all streets, drainage, parking facilities and water and sewer facilities servicing said structure are properly completed and functioning.
H. All members of the homeowners' association shall be given notice in the homeowners' association documents that, should the homeowners' association become insolvent or file for protection under the United States Bankruptcy Act, the individual lot owners shall be required to repair and replace any part of the stormwater management system, including any structural component, for a period of two years after inspection and release of the maintenance guarantee for the site improvements. If the owner fails to complete any required repairs and/or replacement required to the stormwater management system, the town may perform said repair and/or replacement and the cost thereof shall be charged to this owner of the property in accordance with § 175-133C(3).
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