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The following information is provided for general guidance only, and is not intended to be relied upon in preparation of legal documents.

Location

•Real estate associated with the Carolina Colours master planned community is located in the City of New Bern, Craven County, NC.

Master Planned Community in Coastal North Carolina

•Carolina Colours strives to meet the diverse needs of many, including those desiring a retirement community, a family community and a seasonal or second home community. The pedestrian-friendly community encompasses a mix of land uses including public spaces, retail and recreational, alongside traditional and New Urbanism, TND style walkable residential neighborhoods. Utilizing the natural topography, creeks, lakes and mature forests, the thoughtful land plan delivers both seclusion and convenience, enriching and simplifying life’s daily work, play and shop schedule.

Development, Sales and Community Management

•Design, Infrastructure and Amenity Construction: Carolina Creek LLC.

•Real Estate Sales: Land Concepts & Solutions LLC.

•Community Management: Land Concepts & Solutions LLC.

•Property owner interaction with development and sales organizations are encouraged through scheduled and informal meetings.

•Real estate sales efforts focus primarily on customers desiring to reside in the community. This allows land appreciation, if any, to benefit homeowners living in the community. To support long term real estate sales in the community, a permanent Welcome and Sales Centre has been constructed at the Carolina Colours entrance. Community documentation enables continued Association marketing efforts after development efforts are complete. Homes on the resale market are promoted in the Carolina Colours Welcome and Sales Centre and on the community web site.


Land Elevation

•Regional Av: 17.5 ft above sea level. On site Av: 23 ft above sea level.

Planned Residential Homes Sites & Homes

•Nature, golf and water view (lake and creek) home sites. Condominiums, Townhomes, Carriage Homes, Bungalow Homes, TND Alley Homes and Traditional Homes. Single family, multi-family, new construction, resale, custom built and builder spec homes are available.

Constructed Amenities

•18-hole Golf Course designed by William R Love.  Social Pavilion.  4+ acre Towne Lawn.  25+ acre Carolina Lake.  Sidewalks and bike lanes.  K-5 School.


Planned Amenities

Activity Campus including Swim, Tennis and Fitness facilities. Retail Towne Center.  Neighborhood Parks.

Carolina Colours Association

•Each property owner is a member of Carolina Colours Association, Inc. The Board of the Association establishes the dues payable to the Association each year based upon its budgeted expenditures.

•2010 Association Monthly Dues
Golf Front Home Site $35  Non-Golf Front Home Site $30 
Golf Front Completed Home $85  Non-Golf Front Completed Home $80 

•The Association approves all construction and landscaping plans. Fees, payable to the Association are charged to cover the cost of reviews.

2010 Association Review Fees
New Home Construction $200
Other Required Reviews $25

•To maintain an attractive community, the Association is authorized by Protective Covenant to mow each home site up to 4 times per year, with the cost charged to the property owner. Charges for each unimproved home site mowing to date have been approximately $75 per mowing with two mowings per year.

Other Neighborhood Associations

•Certain neighborhoods within Carolina Colours have additional dues for services such as lawn care, building maintenance or building insurance:
Carriage Home in Cobblestone $100/month 
    (excludes building maintenance & insurance)
Mansion Flat Condominium in Carolina Commons $200/month

Carolina Colours Golf Course

•Memberships are currently priced as follows:
Equity Golf Membership up to $10,000 - 75% Refundable upon Resale by Club 

•A $1000 discount in the Equity Fee and a $2,000 discount on the price of a Carolina Colours developer owned home site are available if the purchaser commits to acquire an equity membership in the golf course from the developer at the time of property acquisition.

•No use or membership in the Golf Course is available by virtue of membership in Carolina Colours Association, Inc.  A membership in the Golf Club must be purchased, or user fees must be paid.

•Equity Golf membership is capped at 400, which will accommodate approximately 27% of community homeowners.  75 Annual memberships are available for a limited time.

Home Builder Program

•All home and associated structures must be produced by a builder participating in the Carolina Colours Builder Program. Homes planned for construction within Carolina Colours require approval from the Improvement Review Committee prior to commencement of construction. Builders selected to participate in the Carolina Colours Builder Program must adhere to established standards designed to enhance the likelihood of quality construction, diversity of design and maintenance of clean building sites. Selected builders make a one time entry fee of $1,000.  A fee in the amount of 2% of each custom home construction price is paid to the Carolina Colours sales organization to assist marketing the Carolina Colours community and associated builder homes.

Amenities and Common Areas Management

•Carolina Colours Association, Inc. (other than golf)

Roadway Management and Maintenance

•Constructed by developer to standards established by the City of New Bern. Ownership transferred to City of New Bern for long term management and maintenance.

Water, Sewer, Electrical and Waste Services

•Constructed by developer to standards established by the City of New Bern. Ownership transferred to City of New Bern for long term management and maintenance.

Fire, Emergency Medical Service and Police Protection

•City of New Bern

Property Taxes

•Real property taxes in North Carolina are based on fair market value assessments determined every five years and based on a tax rate established annually by each taxing authority. The rate is assessed per $100 of valuation. Rates are determined annually in June for the then current calendar year. Rates for the 2010 calendar year are as follows:

New Bern Tax Rate: $0.41           Craven County Tax Rate: $0.47

Voice-Video-Data-Security Communications Technology

•Connexions Technologies provides communications services in Carolina Colours through a single piece of fiber optic cable capable of handling all voice (telephone), video (cable TV), data (internet) and security needs. Through Connexions Technologies’ direct to the home fiber optic wiring, residents enjoy more than 1000 times the bandwidth provided by traditional coaxial cable. This fiber optic infrastructure connects residents to a network capable of meeting current and future technology needs.

•As a part of the contractual arrangement between the Association and Connexions Technologies, the Association has agreed to utilize specific service providers for voice, video, data and security services for all Carolina Colours property owners. These services must be comparable and provided at a price less than offered by the incumbent provider of such services in New Bern. Video (TV) and data (internet) are "bundled" services with payments required of all homeowners through and guaranteed by Carolina Colours Association, Inc. These bundled services and their current costs are as follows:

•Video: Local TV and HBO’s multi-channel package, an excellent assortment of quality programming, are included. Service is upgradeable for an additional fee.

•Data: An instant high speed Internet connection is provided, with a downstream speed of 3Mbps, and an upstream speed of 1Mpbs. Access for multiple computers in the home is available. An email account with 10MB of mailbox space is included. Upgrades are available for an additional fee.

•The current cost of the bundled video and data services is $87.50 per month plus tax, for a total of $91.92, billed in advance by the Association. Charges are not incurred until the home is constructed.

•Phone and security services are not bundled and are not paid through and guaranteed by Carolina Colours Association, Inc While these services are not required, if phone service or security service is elected, the service must be purchased from the provider approved by the Association. Phone service is provided through CenturyLink. Security service is provided through ADT. All homes will be pre-wired for basic security features.

Medical Care

CarolinaEast Health System   New Bern, NC
Acute care, 313 beds. 1500+ professional and ancillary personnel, 200+ physicians.
University Health Systems of Eastern Carolina   Greenville, NC 41 miles.
Brody School of Medicine  Greenville, NC 41 miles.

Education

•K-12 Education: Public,
Craven County Schools and
Private Opportunities.

•Postsecondary Education:
Craven Community College New Bern, NC.
East Carolina University   Complete undergraduate, graduate
and medical school curriculum, Greenville, NC 41 miles.

•New Bern Schools

Elementary School Creekside Elementary               252-514-4360
2790 Landscape Drive 
New Bern, NC 28562

Middle School H.J. MacDonald Middle School          252-514-6450
3127 Elizabeth Avenue
New Bern, NC 28562

High School New Bern High School                          252-514-6400
4200 Academic Drive
New Bern, NC 28562

The Epiphany School (6-10)                                    252-638-0122
Arendell Parrott Academy (K-12)                             252-522-4222
Ruth's Chapel (K-12)                                               252-638-1297
St Paul's Education Center (K-12)                           252-633-0100

Waterways

•On-site: Brice Creek.
•Marina availability: 330+ slips on Trent River/New Bern.
•Regional Waterway Access: Trent River, Neuse River, Pamlico Sound, Bogue Sound, Intracoastal Waterway, Atlantic Ocean.

Climate
•Av Annual Temperature:      63 F     Jan 45     Apr 79     Jul 78      Oct 63
•Av Annual Rainfall:              52in      Jan 3       Apr 4       Jul 7        Oct 4
•Av Annual Humidity:            75%     Jan 71     Apr 70     Jul 80      Oct 78

Additional Climate Info

Additional Regional Info
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