Northampton Court Homeowners Association Inc

Key facts from Northampton Court Homeowners Association Inc's documents

Reflects the 1979 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Entire document is a Declaration of Cond)

Legal name

The Manchester Association, Inc. (Article X: 'a non-profit North Carolina )

Governing law

Chapter 47A of the North Carolina General Statutes (Unit Ownership Act) (Article I, lines 20-24: 'under the provi)

Assessments & dues

Uniform; each Unit's assessment bears the same ratio as its undivided interest in Common Property to total (Exhibit C) (Article XXIV(A): 'all assessments levied)

Special assessments

Allowed; Board may levy additional assessment when funds are insufficient or in emergencies (Article XXIV(C): 'in the event of emerge)

Collections & liens

Association has a lien on each Condominium Unit for unpaid assessments, plus costs and attorney's fees; may be foreclosed like a deed of trust (Article XXIV(I): 'the Association is her)

Reserves & fees

Capital Improvement Fund established for replacement and capital improvements; funded by assessments; separate account (Article XXIV(D): 'reserve fund for repla)

Leasing & rentals

Yes, with lessees permitted (Article XI: 'the owner thereof, his imme)

Home business

Prohibited (transient hotel or commercial purposes) (Article XI: 'No owner ... shall permit t)

Maintenance

Association (Common Property) (Article XIX (implied, as roof is part of)

Insurance

Casualty insurance on building and improvements (fire, extended coverage, vandalism, etc.) and public liability/property damage insurance (Article XXI(A): 'Casualty insurance cove)

Use restrictions

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

Voting & meetings

Each Condominium Unit has a vote equal to its proportionate undivided interest in the Common Property as set forth in Exhibit C (Articles of Incorporation, Article VI, p)

Amendments

Requires affirmative vote of 75% of members owning Units; for changes to percentage interests, unanimous consent of all owners and institutional lenders is required (Article XXVII(A): 'approved by an affirm)

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