Fountain View

Key facts from Fountain View's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Preamble)

Units / lots

14 initial Units; maximum 114 total (including up to 100 additional units) (Sections 2.3 and 3.2)

Developer / declarant

Fountain View Partners, LLC, a North Carolina limited liability company (Preamble)

Governing law

North Carolina Condominium Act, Chapter 47C of the N.C. General Statutes (Section 1.1)

Assessments & dues

Initially $1,200 per Unit ($100/month) until December 31 of year first Unit conveyed. (Section 6.8(b))

Special assessments

Allowed with assent of Unit Owners holding 2/3 of allocated interests, voting in person or by proxy at a called meeting. (Section 6.6)

Collections & liens

Association has lien on each Unit for assessments, fines, late fees, interest, costs, attorney fees. Lien subordinate to First Mortgage and tax liens. Foreclosure may be by power of sale (similar to deed of trust) or judicial. Cannot forecl (Sections 6.12(a)-(d))

Reserves & fees

Board must designate a Capital Improvement Fund for replacement of Common Elements. Amount determined by Board as reasonably necessary. (Section 6.9)

Pets

Domestic pets only; defined as dogs, cats, or birds. No other animals, livestock, or poultry. (Section 5.8)

Leasing & rentals

Yes, subject to restrictions. (Section 5.7)

Parking & vehicles

Prohibited within any street right-of-way. (Section 5.10)

Fences

Location or construction of fences requires prior written consent of Board. (Section 5.11(a))

Architectural approval

Yes, for alterations to Common Elements and visible exterior improvements; Board approval required. (Sections 5.5, 5.6, 5.11)

Home business

Permitted as professional home uses subject to restrictions (no exterior signage, no regular commercial vehicle visits, no unreasonable burden). (Section 5.3(a))

Maintenance

Not explicitly; roof likely part of Common Elements (exterior of building) so Association responsibility. (Definition of Common Elements (Section 1)

Insurance

Association to obtain casualty insurance on Common Elements and Units (as specified in Act) and public liability insurance. (Section 9.1, 9.2)

Use restrictions

Units for single-family residential purposes; home professional uses allowed if no exterior signage, no regular commercial vehicle visits, no unreasonable burden. (Section 5.3(a))

Voting & meetings

Each Unit Owner has one vote per Unit owned. Allocated Interests for Common Elements and expenses based on square footage. (Section 2.7)

Amendments

Declaration may be amended by vote of Unit Owners owning 67% of allocated interests, with First Mortgagee consent if required (Section 14.1, 14.3). Declarant can amend unilaterally to add garages (Section 2.6) and exercise development right (Article XIV, Section 2.6, Article III)

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