Fallsford Townhome Owners Association Inc

Key facts from Fallsford Townhome Owners Association Inc's documents

Reflects the 2011 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

townhouse (Name of Development: Fallsford Townhomes)

Legal name

Fallsford Townhome Owners Association Inc

Developer / declarant

Capitol City Homes, LLC (First page, Page 1)

Governing law

North Carolina Planned Community Act (Chapter 47F) and/or Condominium Act (Chapter 47C) as the Act (Article I Definitions (a), Page 4)

Collections & liens

Association may file lien for unpaid assessments as per Act; City may file lien for unpaid utility maintenance costs and foreclose like a mortgage (Article II Section 14 and Article II Sec)

Reserves & fees

First 45 days after default: $300; after 45 days: $500 (for City collection of utility maintenance costs) (Article II Section 14, Page 16)

Parking & vehicles

Any restriction on parking on public streets applies only to Owners and their family members and tenants, not general public (Article II Section 6, Page 12)

Maintenance

Association responsible for maintaining Common Elements, landscape easements, tree conservation areas, private water and sewer lines; Owner responsible for Lot and sight triangle restoration (Article II Sections 2,3,7,14, Pages 11-1)

Voting & meetings

Each Owner of a Lot is a Member; membership appurtenant to Lot; voting per Governing Documents and Act (Article II Section 15 - Membership, Page)

Amendments

Amendments require City Approval; Declarant may amend without others for first 10 years while owning property; thereafter amendment requires consent of 67% of votes (Article I Section 4, Pages 9-10)

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