Townes at Stoneridge Community Association Inc

Key facts from Townes at Stoneridge Community Association Inc's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhomes (Units sharing party walls, no units above/below) (Section 1.56)

Legal name

Townes at Stoneridge Community Association, Inc. (Recital C)

Developer / declarant

TOR Stoneridge, LLC, a Maryland limited liability company (Recitals)

Governing law

North Carolina Planned Community Act, Chapter 47F (Section 1.1)

Assessments & dues

Not set in Declaration; determined annually by budget (Section 11.5)

Special assessments

Yes, for unbudgeted expenses, capital improvements, restoration, etc. Requires approval per Section 11.7 and 11.9 (Section 1.4.4, 11.7, 11.9)

Collections & liens

Association may file and enforce liens for unpaid assessments; Section 11.18 gives priority over other liens except taxes and first mortgages under certain conditions (Section 11.16, 11.18)

Pets

Yes, but livestock and poultry prohibited (Section 12.7)

Leasing & rentals

Yes, Units may be leased subject to Section 16.2; owner responsible for conduct of tenants (Section 16.2)

Parking & vehicles

Prohibited (covered by commercial vehicles) per Section 12.8 (Section 12.8)

Fences

Fences and walls subject to ARB approval and Section 12.16 (Section 12.16)

Signs & flags

Regulated; document specifically regulates or prohibits display of political signs (as stated on cover). Section 12.6 Signs – subject to rules (Cover and Section 12.6)

Insurance

Yes – Section 8.1 Insurance by Owners (not detailed in extracted text) (Section 8.1)

Use restrictions

Yes – Units are for residential use only (Section 16.1)

Amendments

During Declarant Control Period, Declarant can amend unilaterally (Section 18.1); after control period, amendments by Association require vote per Section 18.2 (not detailed); certain amendments require Mortgagee consent (Article 18)

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