Townhomes at Odell Corners

Key facts from Townhomes at Odell Corners's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned_community (Subject to North Carolina Planned Commun)

Legal name

Odell Corners Townhome Association, Inc. (Article I definition of Association)

Units / lots

110 (Article I definition of Lot: Lots 1-110,)

Developer / declarant

Odell 73 Investments, LLC (First page of Declaration)

Governing law

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

Assessments & dues

Set by Board; no maximum during Declarant Control Period; after control period, maximum increase of greater of 5% or CPI annually, cumulative (Section 5.3 (a)(b)(c))

Special assessments

Allowed; during Declarant Control Period requires only Declarant and Builder approval; after control period requires 67% vote of Members. (Section 5.4)

Collections & liens

Assessment creates a continuing lien on the Lot, superior to all liens except ad valorem taxes, first mortgage, and Declarant's mortgage. Foreclosure by action or power of sale under NC law. (Section 5.7)

Reserves & fees

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

Pets

Pets allowed but regulated. (Section 11.17)

Leasing & rentals

Leases and renting regulated. (Section 11.20)

Architectural approval

Architectural and landscaping control requires approval of reviewer. (Article IX, Section 9.1)

Signs & flags

Regulated; political signs and US/NC flags are specifically mentioned on cover. Section 11.18 regulates signs and flags. (Cover page; Section 11.18)

Insurance

Commercially reasonable general deductible not to exceed $10,000. (Section 7.1(a))

Use restrictions

Lots shall be used exclusively for residential purposes. (Section 11.1)

Voting & meetings

Three classes: Class A (Owners other than Declarant/Builder: 1 vote per lot); Class B (Declarant: 100 votes + 145 per lot owned); Class C (Builder: 100 votes + 145 per lot owned). Class B and C cease when no longer own any portion or Januar (Section 4.2)

Amendments

Declaration may be amended by instrument executed by Association and recorded, with approval as provided in Article XII. Specific thresholds not fully visible, but Section 12.2 allows amendment without owner approval in certain circumstance (Article XII, Sections 12.1-12.2)

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