Harbour Master Villas

Key facts from Harbour Master Villas's documents

Reflects the 1984 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Harbour Master Villas Condominium Association, Inc. (Preliminary Statement, Art. I(b))

Units / lots

40 (initial); up to 100 maximum with expansion (3 additional buildings of 20 units each) (Art. III: 2 buildings, 20 units each; Ar)

Developer / declarant

FAIRFIELD HARBOUR, INC.

Governing law

Chapter 47A of North Carolina General Statutes (Unit Ownership Act) (Preliminary Statement, Art. I(a))

Collections & liens

Association has lien for unpaid assessments, late charges, interest, attorney fees; lien subordinate to prior bona fide liens; Board may foreclose; delinquent assessments may be reallocated to all Units as common expense; foreclosure sale d (Art. XII)

Reserves & fees

Board shall structure assessments to provide adequate reserve fund for periodic maintenance, repair, replacement of Common Area improvements (Art. XII)

Leasing & rentals

Yes – not prohibited; Owner may rent to third parties through rental management agreement with property management firm (Art. XIV A, Art. XXI F)

Use restrictions

Unit used as single-family private dwelling for owner, family, guests, lessees, invitees. Developer may use as sales models. (Art. XIV A)

Voting & meetings

One vote per Unit; designated Voting Member if multiple owners; corporate owners designate officer (Art. V(a))

Amendments

Requires affirmative vote of at least 67% of total vote of Voting Members, certified by President and Secretary, recorded in Craven County. Changes to percentages, voting rights, or first mortgagee rights require consent of affected owners (Art. IX)

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