Sedgefield Green Townhomes

Key facts from Sedgefield Green Townhomes's documents

Community type

Planned community of townhomes governed by the North Carolina Planned Community Act (Statement of Declaration; Background Sta)

Developer / declarant

Pulte Home Company, LLC, a Michigan limited liability company (First paragraph after title)

Governing law

North Carolina Planned Community Act (N.C.G.S. Chapter 47F) (Statement of Declaration)

Special assessments

Allowed; during Declarant Control Period only Declarant approval required; after termination, requires 67% vote of Members. (Article V, Section 5.4)

Collections & liens

Unpaid Assessments constitute a continuing lien on the Lot, superior to all except tax liens and first mortgages. Association may foreclose via power of sale or legal action. (Article V, Section 5.7)

Reserves & fees

Association may establish and maintain reserve funds for periodic maintenance, repair, and replacement of Common Elements and Roadways. (Article III, Section 3.4)

Insurance

Each Owner must maintain: (1) property insurance on Townhome at 100% replacement cost; (2) liability insurance minimum $100,000 per occurrence; (3) additional coverages as required by Board. (Article VII, Section 7.5)

Voting & meetings

Two classes: Class A (one vote per Lot owned by non-Declarant Owners); Class B (Declarant: one vote per Lot owned plus four votes per Lot owned by Class A Members or Land Holding Company). Class B ceases at first of: written termination, en (Article IV, Section 4.2)

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