Mountain 1st

Key facts from Mountain 1st's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Preamble; Article I)

Units / lots

49 existing Units with the right to add up to 26 additional Units (maximum 75 Units) (Art. 3.3)

Developer / declarant

Those parties who are signatories to this Declaration, collectively referred to as 'Declarant'. Includes Mountain 1st Bank and Trust Company, and Original Declarant Mill Creek Developers, LLC. (Preamble; Art. 2.12; Art. 1.1, 1.6)

Governing law

Chapter 47C of the North Carolina General Statutes (North Carolina Condominium Act) (Preamble; Arts. 2.1, 3.1)

Assessments & dues

Not fixed; determined annually by the Board in the budget (Art. 11.6; Art. 4.6)

Special assessments

Yes, for capital improvements or other necessary expenditures. Special assessment over $3,000 must be approved by majority in interests of Unit Owners. Board may also levy special assessments against less than all Units for certain repairs (Art. 4.5; Art. 11.8)

Collections & liens

Yes, assessments are a charge and lien upon the Unit and its interest in Common Elements, prior to all other liens except real estate taxes and prior recorded liens. The Association may foreclose the lien and sell the Unit, or obtain a mone (Art. 4.3; Art. 4.8; Art. 11.1)

Reserves & fees

Yes, two reserves: General Operating Reserve and Reserves for Repairs and Replacement of capital improvements. The Board shall create, fund, and maintain them. (Art. 11.7)

Pets

Yes, generally recognized house or yard pets in reasonable numbers may be kept, provided not for commercial purposes. (Art. 9.3)

Parking & vehicles

Not specifically prohibited; however, no repair, restore, or storage of any vehicle, boat, trailer, or recreational vehicle except emergency repairs. (Art. 9.4)

Fences

Chain link, barbed, chicken wire, or similar fencing prohibited. Decorative fencing requires ARC approval. Courtyard fences allowed with approval; owner bears cost; if adjacent owner uses existing fence, no reimbursement required. (Art. 9.11; Art. 7.2(b))

Architectural approval

Yes, for any exterior addition, change, or alteration of any Limited Common Element, and for any building, fence, wall, deck, mailbox, or other structure. Plans must be approved in writing by the Architectural Review Committee (ARC). (Art. 5.1; Art. 9.14)

Home business

Not prohibited, but limited to a home occupation that does not cause any noxious or offensive activity or unreasonably increase motor traffic. (Art. 9.9)

Maintenance

Association: Common Elements (including structural components). Unit Owner: interior of Unit, Limited Common Elements if assigned maintenance by Board. The Board may assign maintenance of Limited Common Elements to unit owners. (Art. 4.10; Art. 7.2(b))

Use restrictions

Yes, the Condominium is designed and built as a residential condominium development. No part of any Unit or Common Elements shall be used for storage of explosives/hazardous materials, dumping/incineration of waste, or use of outside public (Art. 9.1)

Voting & meetings

Votes in the Association are equally allocated to all Units (Art. 3.7; Art. 6.5)

Amendments

Supplementary Declarations may be filed by Declarant to add Additional Real Estate and amend the Declaration, including percentage interests. Specific procedure for amendments not fully detailed in this extract; the document itself is an am (Art. 2.21; Art. 6.1)

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