Woodland Village Villas (Fayetteville Nc)

Key facts from Woodland Village Villas (Fayetteville Nc)'s documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Article I: 'condominium ownership')

Governing law

Chapter 47C of the General Statutes of North Carolina (Article I, paragraph A)

Assessments & dues

Initially estimated maximum $85.00 per month (unit without Garage Unit) or $95.00 (with Garage Unit). May be increased by Board as reasonably necessary after January 1 following first Unit conveyance. (Article XXIV, paragraph G)

Special assessments

Requires assent of Unit Owners owning two-thirds (2/3) of Common Areas and Facilities voting in person or by proxy at a duly called meeting. (Article XXIV, paragraph C)

Collections & liens

Association has lien on each Unit for unpaid assessments, may foreclose in same manner as real estate deeds of trust; lien subordinate to first mortgage or deed of trust. (Article XXIV, paragraphs N, O)

Reserves & fees

Board shall maintain a Capital Improvement Fund for replacement of common property; amount determined by Board as reasonably necessary; annual notification to unit owners of balance. (Article XXIV, paragraph I)

Pets

Yes, subject to Board regulation of type, size, and number. (Article XIII: 'The Board of Directors ha)

Leasing & rentals

Yes, but leases must be subject to Declaration, Articles, and Bylaws; lessee failure to comply is default under lease. (Article XI: 'Any leases shall provide th)

Architectural approval

Yes, for structural modifications or alterations, exterior changes including painting, antennae, window treatments, fences, planting; written consent of Association required. (Article XVI)

Signs & flags

Prohibited: no 'For Rent' or 'For Sale' signs in windows of any Unit or Garage Unit. (Article VII)

Maintenance

Owner responsible for maintenance, repair, replacement within Unit (walls, ceilings, floors, carpet, doors, windows, screens, HVAC, appliances, fixtures). Association responsible for Common Property and Limited Common Areas (except where ow (Articles XVIII, XIX)

Insurance

Casualty insurance on buildings and improvements at 100% replacement cost; public liability insurance minimum $1,000,000 per occurrence; fidelity coverage for officers/directors/employees handling funds. (Article XXI, paragraphs A(1), (2), (3))

Use restrictions

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

Voting & meetings

Proportional to undivided interest in Common Property as shown on Exhibit C (Article XXIV, paragraph A)

Amendments

During first 20 years: 90% vote of Unit Owners (based on undivided interest); after 20 years: 75% vote. Certain material amendments require 51% of institutional lenders. Declarant may amend unilaterally for HUD/Fannie Mae/Freddie Mac/VA com (Article XXVII)

Amenities

Open spaces include garden walk and grilling area; clubhouse mentioned conditionally; no pool, lake, gym, trails. (Article I, paragraph B (garden walk and )

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