Barton's Landing Condominium Association, Inc.

Key facts from Barton's Landing Condominium Association, Inc.'s documents

Community type

Condominium

Legal name

Barton's Landing Condominiums

Developer / declarant

Riddle-Floyd, Inc.

Governing law

Chapter 47C of the General Statutes of North Carolina (North Carolina Condominium Act) (Article I)

Assessments & dues

Maximum $540 per unit until December 31 of year first unit conveyed; thereafter may increase up to 5% per year by Board (Article XXIV-F)

Special assessments

Board may levy special assessment for construction, reconstruction, repair, or replacement of Common Areas, provided 2/3 of unit owners voting (in person or by proxy) assent (Article XXIV-C)

Collections & liens

Association has a lien on each unit for unpaid assessments; can foreclose in same manner as real estate deeds of trust and mortgages; includes interest, costs, attorney's fees; subordinate to first mortgages (Article XXIV-L, M)

Reserves & fees

Capital Improvement Fund established in annual budget for replacement of and capital improvements to Common Property; amount determined by Board; funds used only for capital improvements; interest may be used for operations; each unit owner (Article XXIV-G)

Leasing & rentals

Yes, but Owner must lease entire unit; lease term at least 30 days; lease must be in writing and subject to Declaration, Articles, Bylaws; failure of lessee to comply is default (Article XI)

Parking & vehicles

At least 46 parking spaces designated (Article I)

Architectural approval

Written consent of Association required for structural modifications or alterations to unit; also for any exterior changes (painting, antennae, objects protruding through walls/roof, changes to appearance of building exterior); no object ma (Article XVI)

Maintenance

Owner responsible for maintenance and repair within unit (walls, ceilings, floors, appliances, HVAC, etc.); also for exterior surfaces of doors/windows (painting by Association); for limited common areas (patio/deck) used exclusively by own (Article XVIII, XIX)

Insurance

Association shall maintain casualty insurance on buildings and improvements at 100% replacement cost, including fixtures/installations per original plans; comprehensive liability insurance at least $1,000,000 per occurrence; fidelity bonds (Article XXI-A)

Use restrictions

Each Condominium Unit restricted to residential use by its Owner, immediate family, guests, invitees, lessees. No transient hotel or commercial purposes. (Article XI)

Voting & meetings

Owners vote based on undivided interest in Common Property (proportional to fair market value per Exhibit C) (Article IV; Exhibit C referenced; Articl)

Amendments

During first 20 years, amendment requires affirmative vote of 90% of undivided interest in Common Areas and Facilities; after 20 years, 75% required. Developer may amend without consent until Dec 31, 1991 to add phases. Certain changes (per (Article XXVII-A, B, C, D)

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