Richland Run Condominium Association, Inc.

Key facts from Richland Run Condominium Association, Inc.'s documents

Reflects the 1985 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Richland Run Condominium) (Page 1 (first paragraph); Para 2)

Developer / declarant

Richland Properties, Inc., a North Carolina corporation (Page 1 (WHEREAS clauses))

Governing law

North Carolina Unit Ownership Act, Chapter 47A of the North Carolina General Statutes (Page 1 (first paragraph); Para 1 definit)

Assessments & dues

Not set in the Declaration; common expense assessments are established by the Board of Directors and collected at least monthly. (Para 14(b) (Due dates for payment of Com)

Special assessments

May be made upon affirmative vote of Unit Owners owning at least 51% of the Common Interest; each owner contributes pro rata per undivided interest. (Para 14(c))

Reserves & fees

Association shall establish and maintain an adequate reserve fund for periodic maintenance, repair and replacement of all Common Areas and facilities, funded out of regular assessments. (Para 7(c))

Pets

Household pets may be kept provided all governmental laws and Association rules and regulations concerning pets are observed. (Para 22(e) (second part))

Leasing & rentals

Units may be leased for single family residence. Minimum lease term of 30 days. Entire Unit must be leased; no portion may be leased. No transient tenants. (Para 22(c))

Insurance

If any fixtures, property or equipment used or kept in a Unit are financed by a mortgage on such Unit, then such personal property shall be covered, with additional premium to be sole responsibility of the Unit Owner. (Para 16(a)(1) (parenthetical))

Amendments

Amendment requires approval of Unit Owners collectively owning at least 75% of aggregate undivided interest in common areas and facilities, executed and recorded; Board may correct obvious errors without owner consent (20-B). (Para 20-A; Para 20-B)

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