Parkside at Stallings

Key facts from Parkside at Stallings's documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (townhome association) (Section 1.4: 'Parkside at Stallings Town)

Developer / declarant

THE MATHISEN COMPANY, a North Carolina corporation (First paragraph)

Governing law

North Carolina Planned Community Act (N.C.G.S. Chapter 47F) (Section 1.1)

Assessments & dues

Executive Board adopts budget by Dec 1; meeting of Lot Owners to ratify; if rejected by 75% of all Lot Owners, previous budget continues (Section 5.3.1)

Special assessments

Requires 2/3 vote of Members voting in person or by proxy at a meeting called for that purpose (Section 5.4)

Collections & liens

Unpaid assessments become a lien; Association may foreclose and has power of sale; lien subordinated to first mortgage; foreclosure of first mortgage extinguishes lien (Sections 5.9 and 5.10)

Reserves & fees

Association must maintain a reserve fund for periodic maintenance and repair of landscaping, exteriors, and common elements (Section 5.2)

Pets

Yes, a reasonable number of domesticated, household pets (Section 11.6)

Leasing & rentals

Yes, entire residential structure only; minimum lease term of 1 year; in writing; subject to Declaration and ByLaws; no transient or hotel use (Section 11.8)

Architectural approval

Yes, Architectural Committee must approve all improvements (plans and specifications) (Sections 10.2, 11.4)

Setbacks / home size

Minimum setback required by applicable zoning or other laws (Section 11.2)

Use restrictions

Each Lot shall be used for residential purposes only (Section 11.1)

Voting & meetings

Class A (Lot Owners except Declarant): 1 vote per Lot. Class B (Declarant): 3 votes per Lot. Class B terminates on earliest of: Class A votes equal Class B votes, Dec 31, 2015, or Declarant's written consent. (Section 3.2)

Amendments

By 67% of all Lot Owners; must be recorded with Register of Deeds; Board certifies and records within 30 days (Section 12.3)

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