Towne Station

Key facts from Towne Station's documents

Community type

Covenant / Planned Community

Legal name

Towne Station Homeowners Association

Units / lots

171 (Lots 1-80 Phase I, Lots 81-119 Phase II,)

Assessments & dues

$125.00 per lot until January 1, 2011 (Maximum Annual Assessment shall be One H)

Special assessments

Capital Improvement Assessment and Extraordinary Maintenance and Operation Assessment require assent of Class B Member (if any) and two-thirds of Class A votes cast. Restoration Assessment may be levied for non-maintenance. (Article L section 5 – Special Assessment)

Reserves & fees

Any assessment not paid within 15 days delinquent; late charge to be determined by Board of Directors (Article L section 9 – effect of non-paym)

Leasing & rentals

Generally prohibited. Exception: owner resided at least 12 months with homestead exemption, involuntarily relocates, may rent for up to 24 months after vacating. (G.29 – shall not be rented or leased... )

Use restrictions

All residences shall be owner occupied as a single-family residence and shall not be rented or leased in whole or in part. (G.29 – All residences of Towne Station s)

Voting & meetings

Class A (owners) one vote per lot; Class B (Developer) three votes per lot except election of officers (one vote per lot). Class B ceases when Developer no longer owns lots or 4 years from 2010 amendment. (Article J section 2(c) CLASS A and CLASS)

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