Spencer Towns

Key facts from Spencer Towns's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential planned community (townhomes) (Introduction)

Legal name

Spencer Towns Owners Association, Inc. (Introduction)

Developer / declarant

Carolina Cottage Homes, LLC (Introduction)

Governing law

North Carolina Planned Community Act, N.C.G.S. § 47F-1-101 et seq. (Introduction)

Assessments & dues

Not fixed; set annually by Board via budget (Section 5.3)

Special assessments

Allowed for unbudgeted expenses; requires vote of >50% of Units and Declarant consent during Development and Sale Period (Section 5.4)

Collections & liens

Lien on Unit for unpaid assessments; foreclosure after 90 days if Board votes to proceed; judicial or non-judicial allowed; fines only by judicial (Section 5.7)

Reserves & fees

Budget includes reasonable contribution to reserve fund for repairs and replacements of capital items (Section 5.3(a))

Pets

Not explicitly stated; no pet restrictions found in excerpt. Maybe in Rules (Exhibit D) not included. So likely allowed but not defined here.

Leasing & rentals

Yes, Units may be leased in entirety only; no subleasing without Board approval; minimum initial term of 12 months unless Board allows shorter for hardship. (Section 7.1(b))

Parking & vehicles

Not explicitly addressed in declaration excerpt; likely in Rules. But there is mention of parking in Section 6.4(a) regarding residential use includes parking. No specific parking rules.

Architectural approval

Design requirements and standards covered in Section 11; not fully included but referenced. Also rulemaking authority for architectural standards. Likely ARC exists but not detailed in excerpt. (Section 11 (Table of Contents))

Home business

Permitted only if conducted by resident, not apparent from outside, complies with laws, no regular employee/client visits, no increase in insurance, consistent with residential character (Section 6.4(a))

Signs & flags

Political signs: allowed; Association may prohibit earlier than 45 days before election and later than 7 days after; may regulate size and number per §47F-3-121 (Section 6.4(e)(iv))

Use restrictions

Units may be used only for residential purposes (including parking and storage), except as Declarant permits for construction/marketing (Section 6.4(a))

Voting & meetings

One vote per Unit (Section 4)

Amendments

Amendment under Section 19; not detailed in excerpt. Listed in Table of Contents. (Section 19 (Table of Contents))

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