Chesapeake Condominiums

Key facts from Chesapeake Condominiums's documents

Community type

Condominium

Legal name

Chesapeake Condominiums

Developer / declarant

Franklin~Lee Homes, Inc.

Governing law

Chapter 47A of the General Statutes of North Carolina (Unit Ownership Act) (Article I)

Assessments & dues

Initial monthly dues per unit type (Schedule A): Potomac $31, St. Michael's $29, Baltimore $31, Cambridge $48, Annapolis $41, Chesapeake $60 (Schedule A attached to Declaration)

Special assessments

Allowed for construction, reconstruction, repair, replacement of Common Areas (Article XXIV-C)

Collections & liens

Association has lien on each Unit for unpaid assessments; foreclosure rights (not detailed in excerpt) (Article XXIV-J (truncated) - reference t)

Reserves & fees

Capital Improvement Fund established for replacement of Common Property; amount set by Board; annual notification of balance to owners (Article XXIV-G)

Pets

yes, dogs, cats, other household pets allowed within unit, not for commercial purposes (Article XII-2: 'dogs, cats or other hous)

Leasing & rentals

yes, with restrictions (Article XI: 'Any Lease or rental agreeme)

Parking & vehicles

At least 24 parking spaces initially; Association has right to make permanent and temporary assignments of parking spaces (Article I and Article VII)

Architectural approval

yes, for structural modifications, exterior alterations, changes to Common or Limited Common Areas (Article XVI)

Home business

Not explicitly prohibited, but 'transient hotel or commercial purposes' prohibited; corporate owners can use only for officers/directors/guests (Article XI: 'No Owner... shall permit th)

Signs & flags

Developer allowed to display advertising signs during sales period until all units sold or 12/31/1989. Otherwise, no signs on Common Property without authorization. (Article XI and By-Laws 10(a))

Maintenance

Association responsible (part of Common Property that contributes to support of buildings) (Article XIX-A: 'those portions thereof w)

Use restrictions

yes (Article XI: 'Each Condominium Unit is he)

Voting & meetings

Majority of Unit Owners as defined in Unit Ownership Act (Article III definitions reference Chapte)

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