55 James at Midtown Homeowners Association Inc

Key facts from 55 James at Midtown Homeowners Association Inc's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned community governed by the North Carolina Planned Community Act (Chapter 47F) (Section 1.1, Section 1.13)

Developer / declarant

Lennar Carolinas, LLC, a Delaware limited liability company (Opening paragraph)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Section 1.1)

Assessments & dues

Board sets Common Assessments to cover Common Expenses; includes reserves and Townhome Services (Section 1.12, Article 11)

Special assessments

Defined; may be assessed for unbudgeted expenses, capital improvements, uninsured losses, etc.; assessed against all Lots or specific benefited Lots as provided (Section 1.4.3)

Collections & liens

Association has lien rights under N.C. Gen. Stat. §44A; can file claims of lien; enforcement includes suspension of use rights for unpaid assessments (subject to hearing requirements) (Section 5.2.2.1, Section 7.5.2, Section )

Reserves & fees

Reasonable reserves for capital improvements, repairs and replacements are included in Common Expenses (Section 1.12.1)

Architectural approval

Architectural Review Board (ARB) created pursuant to Article 14 (not included in excerpt); architectural guidelines referenced in Governing Documents (Section 1.2, Section 1.23)

Signs & flags

Document states it regulates or prohibits display of political signs and the flag of the United States or North Carolina (full provisions not included in excerpt) (First page header)

Maintenance

Association: repair and replacement of roof, shingles, flashing, fascia, soffit, gutters, etc. (excluding structural elements) (Section 1.20.2)

Insurance

Each Owner must maintain: (1) property insurance on all improvements on Lot (100% of restoration costs); (2) personal property insurance; (3) liability insurance; policy must name Association as additional insured, waive subrogation, etc. (Section 8.1.1, 8.1.3)

Use restrictions

Implied; townhomes defined as residential dwelling units; no other use explicitly stated (Section 1.52)

Voting & meetings

Two classes: Class A (owners of Lots – 1 vote per townhome); Class B (Declarant – 10 votes per Class A vote); during Declarant Control Period Declarant deemed to have 80% voting interest (Section 4.2.1, 4.2.2, 4.2.3)

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