Kaplan Ridge Townhomes Homeowners Association, Inc.

Key facts from Kaplan Ridge Townhomes Homeowners Association, Inc.'s documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhomes Homeowners Association (Title and Article I Section 1)

Legal name

KAPLAN RIDGE TOWNHOMES HOMEOWNERS ASSOCIATION, INC.

Developer / declarant

Bragg & Associates Building Company (First paragraph)

Assessments & dues

Initially $360 per Class A Lot per year ($30/month) and $180 per Class B Lot per year ($15/month). (CCR Art IV Sec 3)

Special assessments

Allowed for capital improvements with same vote as annual increase beyond 10% (2/3 of each class). (CCR Art IV Sec 4)

Collections & liens

Assessments are a continuing lien on the Lot; Association may foreclose the lien or bring personal action. (CCR Art IV Sec 1 and Sec 7)

Reserves & fees

$10 if not paid within 20 days after due date. (CCR Art IV Sec 7)

Pets

Dogs, cats, or other household pets may be kept, but not for commercial purposes. (CCR Art IX Sec 3)

Leasing & rentals

Tenants and contract purchasers may exercise rights and easements of enjoyment if they occupy the residence as principal residence in Wake County. (CCR Art III Sec 2(b))

Architectural approval

If the Board or its committee fails to approve or disapprove within 30 days after submission, approval is not required. (CCR Art V)

Use restrictions

All Lots shall be used for residential purpose only. (CCR Art IX Sec 1)

Voting & meetings

Class A Lots: 1 vote each; Class B Lots (owned by Declarant): 3 votes each until conversion (CCR Article II Section 2)

Amendments

During first 25 years: amendment requires instrument signed by Owners of not less than 90% of Lots; after 25 years: requires 75% of Lots; also requires FHA/VA approval if applicable, and consent of Raleigh City Attorney. (CCR Art XIII Sec 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.