University Woods at Centennial Condominiums Unitowners Association, Inc.

Key facts from University Woods at Centennial Condominiums Unitowners Association, Inc.'s documents

Reflects the 2000 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

UNIVERSITY WOODS AT CENTENNIAL CONDOMINIUMS UNITOWNERS ASSOCIATION, INC. (Section 1(d) and Bylaws Art. I, Sec. 1)

Units / lots

48 (maximum) (Section 4: 'The maximum number of units )

Developer / declarant

TRAILWOOD PARTNERS, A NORTH CAROLINA GENERAL PARTNERSHIP, 142 MINE LAKE COURT, RALEIGH, NC 27619 (First paragraph of Declaration)

Governing law

North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes (Section 1(a) (Definitions: 'Act'))

Special assessments

Board may levy additional assessments if needed, not exceeding 15% increase without membership approval (Bylaws Art. IX, Sec. 1)

Collections & liens

Unpaid assessment constitutes a lien on the unit; may be foreclosed under NC law; Association may bid at foreclosure and hold unit (Bylaws Art. IX, Sec. 7 and 8)

Reserves & fees

Reserve fund for replacement of and capital improvements to common areas and facilities; subject to membership approval at annual meeting (Bylaws Art. IX, Sec. 2)

Pets

Allowed, but Association may require removal if determined a nuisance (Section 10(i))

Voting & meetings

Each owner votes in accordance with percentage interest in common areas (Bylaws Art. III, Sec. 6)

Amendments

Declarant may amend before all units conveyed without consent; thereafter 75% vote of unit owners (some changes require unanimous consent). Amendment recorded and certified. (Section 21)

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