Country Meadows Foley

Key facts from Country Meadows Foley's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article I, Section 1.8; Section 2.2)

Units / lots

3 (Building 1, Unit 1; Building 2, Units 2 and 3) (Article II, Section 2.3; Exhibit B)

Developer / declarant

JIMISH QUICKEL, LLC, a North Carolina limited liability company (Preamble; Article I, Section 1.9)

Governing law

North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes (Preamble; Article I, Section 1.1)

Assessments & dues

Board has power to levy assessments for Common Expenses; budget prepared and assessment levied each year. See Bylaws Article VIII, Section 8.3. (Article VI, Section 6.1; Bylaws Article )

Special assessments

Permitted; Board may levy special assessments for Common Expenses as needed (Bylaws Section 8.7). (Bylaws Article VIII, Section 8.7)

Collections & liens

Assessments constitute a lien on the Unit; may be foreclosed under NC Gen. Stat. §47C-3-115 and 116. (Article VI, Section 6.1; Article IX, Sec)

Reserves & fees

Association shall establish reserves for capital expenditures and deferred maintenance (Bylaws Section 8.6). (Bylaws Article VIII, Section 8.6)

Pets

Prohibited except as may be provided by rules and regulations promulgated by the Board. (Article V, Section 5.18)

Leasing & rentals

Yes, but only with prior consent of the Board (consent not unreasonably withheld). Declarant may lease without Board consent. (Article V, Section 5.6)

Parking & vehicles

Not explicitly restricted; but parking for ordinary course of business only. (Article V, Section 5.8 (implied))

Architectural approval

10 days for lease approval; no specific timeline for other approvals. (Article V, Section 5.6 (for leases); for)

Setbacks / home size

Units cannot be altered to less than 650 square feet of floor space. (Article II, Section 2.4)

Maintenance

Roof is part of Common Elements (Article I, Sec 1.6(c)) and Limited Common Elements for each building (Sec 1.13). Association responsible for maintenance of Common Elements; Limited Common Element expenses allocated to benefiting units. Roo (Article I, Sections 1.6(c), 1.13; Articl)

Insurance

Casualty insurance on the Property (80% replacement cost) and public liability ($2,000,000 per occurrence minimum). Fidelity coverage also required. (Article VIII, Sections 8.1, 8.2, 8.3)

Voting & meetings

One vote per Unit; votes equally allocated. Association cannot vote on its own unit. (Article II, Section 2.6; Bylaws Article )

Amendments

Declaration may be amended by written joinder of not less than 67% of Unit Owners. Amendments altering common element interest, number of units, boundaries, or use restrictions require written consent of all affected owners and their mortga (Article XIII)

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