Ashford Townes Townhome Association Inc

Key facts from Ashford Townes Townhome Association Inc's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Developer / declarant

D.R. Horton — Terramor, LLC, a Delaware limited liability company (Preamble)

Governing law

Chapter 47F of the North Carolina General Statutes (Planned Community Act) (Article I)

Collections & liens

Unpaid assessments become a lien on the Lot when Association files claim of lien; superior to all except prior recorded liens and tax liens (Section 9.2)

Reserves & fees

Greater of $20.00 per month or 10% of any installment unpaid (or higher as permitted by the Planned Community Act) (Section 9.2)

Leasing & rentals

Yes, but Association may require minimum lease term of 12 months and limit to one lease per 12-month period; otherwise may regulate leasing unless prohibited by FHA/VA or law (Section 4.5.3)

Architectural approval

Yes, for any structure or thing placed, erected, installed on any Lot, including fences, improvements, landscaping, exterior alterations (exceptions: repainting in originally approved color scheme, interior modifications not visible from ou (Section 5.1)

Insurance

Deductible treated as Common Expense unless loss caused by Owner's negligence – then may be assessed against that Owner as Specific Assessment (Section 7.1.4)

Use restrictions

Lots and Common Area shall be used for residential and related purposes only (Section 4.1)

Voting & meetings

Two classes: Class A (non-Declarant Owners) one vote per Lot; Class B (Declarant) 3 votes per Lot it owns plus 1 vote per Lot owned by others (Section 3.3)

Amendments

Not fully extracted; referenced as Article XV (Changes in Common Area) – but likely amendment of Declaration requires certain vote (Article XV (heading))

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