Avery Square Townhomes

Key facts from Avery Square Townhomes's documents

Community type

Covenant / Planned Community

Units / lots

36 townhomes (Preamble paragraph B; B38976-P605)

Developer / declarant

Avery Phase II Owner, LP, a Delaware limited partnership (Preamble; B38976-P605)

Governing law

Chapter 47F of the North Carolina General Statutes (North Carolina Planned Community Act) (Article I, Section 1)

Assessments & dues

Not fixed; established by Board each year based on budget (Article V, Sections 3 and 4)

Special assessments

Allowed with assent of 2/3 of aggregate votes of Class A and Class B Members voting in person or by proxy. (Article V, Section 5)

Reserves & fees

Association shall establish and maintain adequate reserve fund for periodic maintenance of improvements. (Article V, Section 2(a))

Leasing & rentals

Owner may lease Lot to residential tenants, with lease subject to Declaration. (Article X, Section 1)

Architectural approval

Yes; Architectural Committee approval required for structures; Architectural Guidelines may be promulgated. (Article IX (excerpt); B38976-P621-624)

Signs & flags

This document regulates or prohibits the display of political signs (notice only; no specific rules provided in excerpt). (Cover page; B38976-P604)

Use restrictions

All Lots shall be used for residential purposes only. (Article X, Section 1)

Voting & meetings

Two classes: Class A (1 vote per lot), Class B (9 votes per lot for Declarant). Class B converts to Class A after Declarant Control Period. (Article III, Section 2)

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