Forbes Woods, a Condominium

Key facts from Forbes Woods, a Condominium's documents

Reflects the 1993 governing documents — figures and rules are as originally recorded and may have changed since.

Legal name

Forbes Woods Condominium Association of Greenville, Inc. (Article I Section 1.3)

Developer / declarant

Bill Clark Construction Co., Inc., a North Carolina corporation (Preamble (Page 1))

Governing law

North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes (Preamble, Article I Section 1.1)

Assessments & dues

Not explicitly stated; assessments are levied by Board in monthly installments based on budget. (Amended Article VI Section 6.3 (budget p)

Special assessments

Board may levy special assessments for maintenance, repair, restoration, improvements, and costs of curing defaults. Special assessments exceeding $25,000 require 51% member approval. (Amended Article VI Section 6.6 (Book 108)

Reserves & fees

Reserve Fund for Repair and Replacement; General Operating Reserve Fund; Maintenance Fund; Working Capital Fund. Reserve funds maintained in amounts deemed necessary by Board, funded by regular installments. (Amended Article VI Section 6.5 (Book 108)

Pets

Yes, subject to rules and regulations; maximum of 2 dogs, 2 cats, or other household pets, but total not to exceed 3 animals at any time. Not for commercial purposes. Board may exclude any pet deemed a nuisance. (Article V Section 5.9)

Leasing & rentals

Yes, with restrictions. No rental for transient or hotel purposes (less than 30 days or with customary hotel services). Lease must be in writing, for entire unit, and subject to Declaration and Bylaws. Lessee must comply. Owner must notify (Article V Section 5.8)

Voting & meetings

Votes allocated to units as stated on Exhibit "C". Exhibit C lists each unit with a percentage (e.g., 4%, 3%, 5%), implying votes proportional to that percentage. (Article II Section 2.6; Exhibit C)

Amendments

Amendment only in compliance with Act (Sections 2-104 and 2-117). No amendment altering or impairing special declarant rights without declarant's written consent. (Article XII)

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