Stacy Weaver Drive Townhouses Owners Association, Inc.

Key facts from Stacy Weaver Drive Townhouses Owners Association, Inc.'s documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Stacy Weaver Drive Townhouses Owners Association, Inc. — townhouse owners association (Art. I, § 1; Articles, ¶ 1 (name "STACY )

Legal name

STACY WEAVER DRIVE TOWNHOUSES OWNERS ASSOCIATION, INC.

Developer / declarant

Measamer/West, LLC, a North Carolina limited liability company (Preamble: "MEASAMER/ WEST, LLC, a limite)

Governing law

North Carolina nonprofit corporation statute §55A-2-02 (Articles, preamble: "Pursuant to §55A-2-)

Assessments & dues

Until January 1 of the year immediately following transfer of the first Lot to a non-Declarant Owner, maximum annual assessment is $240.00 per Lot (Art. IV, § 3)

Special assessments

Special assessment may be levied in any assessment year for construction, reconstruction, repair or replacement of public/private capital improvements on Common Area, including fixtures and personal property, with two-thirds (2/3) vote; app (Art. IV, § 4)

Collections & liens

Annual and special assessments, plus interest, costs and reasonable attorneys' fees, are a continuing lien on the assessed property and personal obligation of the Owner at the time due; personal obligation does not pass to successors unless (Art. IV, § 1)

Pets

Dogs, cats or other household pets may be kept, provided not for commercial purposes and properly leashed or confined in an approved fenced area (Art. VIII, § 5)

Leasing & rentals

Entire unit may be rented; no portion of a unit other than the entire unit may be rented (Art. VIII, § 15)

Parking & vehicles

Parking easements granted over Common Area to each residential site owner; no further parking rules stated (Art. IX, § 4)

Fences

Fences require architectural approval; no separate fence standards stated (Art. V ("No building, fence, wall or oth)

Architectural approval

Board or committee must approve or disapprove submitted plans within thirty (30) days; otherwise approval is not required and Article deemed complied with (Art. V)

Maintenance

Association provides repair, replacement and care of roofs; Owner pays the expense, added to assessment (Art. VII)

Insurance

Each Owner must maintain fire, casualty and extended coverage property insurance on each party wall used, with a North Carolina-licensed insurer, naming each other using Owner as additional insured (Art. VI, § 6)

Use restrictions

Lots shall be used only for residential purposes; only one single-family townhouse dwelling per Lot (Art. VIII, § 1)

Voting & meetings

One class of Members; each Lot owned entitles one vote; multiple owners of one Lot are members but no more than one vote per Lot (Art. III, § 2)

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