Mccracken PLC Townhome Assn

Key facts from Mccracken PLC Townhome Assn's documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhome association (fee simple lots with party walls, common area owned by association) (Statement of Purpose and Art. I definiti)

Units / lots

8 (each townhome on its own Lot) (Statement of Purpose and Exhibit A (one )

Assessments & dues

Maximum $600.00 per Lot until January 1 following first Lot conveyance (Art. V, Section 5.4)

Special assessments

May be levied with assent of 2/3 of votes of each class (Art. V, Section 5.5)

Collections & liens

Assessments are a continuing lien on the Lot; Association may foreclose the lien and recover interest, costs, and attorney's fees (Art. V, Sections 5.2 and 5.8)

Reserves & fees

Association shall set aside funds in a Reserve Account for repair and replacement of capital improvements in common areas (e.g., pavement, drives, parking areas) (Art. V, Section 5.1 (second paragraph))

Pets

Household pets in reasonable numbers may be kept for sole pleasure, not commercial use; birds must be confined in cages; no livestock or poultry (Art. VI, Section 6.8)

Leasing & rentals

Impliedly allowed: Owner may delegate use rights to tenants; tenants may occupy residence (Art. III, Section 3.2; Art. V, Section 5)

Architectural approval

Approval required for any exterior construction, remodeling, alteration, painting, roofing, fence, wall, drive, walkway after initial construction (Art. VI, Section 6.2)

Signs & flags

Only one ‘For Rent’ or ‘For Sale’ sign per Lot, not exceeding 2 ft by 3 ft; no other advertising signs (Art. VI, Section 6.9)

Setbacks / home size

Minimum setback lines may be shown on plat; deviations up to 10% not a violation; no side setback required on party-wall lines (Art. VI, Section 6.4)

Maintenance

Owner responsibility: painting, repairing, replacing or caring for roofs, gutters, downspouts are part of Owner's maintenance duties (Art. VI, Section 6.13(b))

Insurance

Each owner with a party wall must maintain hazard insurance on Lot and improvements for full replacement cost (excluding excavation/foundation) with extended coverage; policy must name Association as additional insured and trustee (Art. VIII, Section 8.3 (first two paragr)

Use restrictions

All Lots shall be used for residential purposes only (Art. VI, Section 6.3)

Voting & meetings

Two classes: Class A (each Owner, one vote per Lot); Class B (Developer, three votes per Lot until conversion) (Art. IV, Section 4.2)

Amendments

Amendment requires not less than 2/3 of Lot and Unit Owners, plus approval in writing by majority of first deed of trust/mortgage holders and FHA/VA; must be recorded in Durham County Registry (Art. IX, Section 9.3)

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