East Broad Crossing

Key facts from East Broad Crossing's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article II, Section 2.2)

Governing law

North Carolina Condominium Act, Chapter 47C (Preamble and Article I, Section 1.1)

Assessments & dues

Board prepares budget and levies assessments proportionally based on Common Expense percentages (Exhibit B) (Bylaws Section 8.3; Declaration Article )

Special assessments

Permitted (Bylaws Section 8.7) (Bylaws Section 8.7)

Collections & liens

Unpaid assessments become a lien on the Unit; may be foreclosed or money judgment obtained pursuant to N.C.G.S. §47C-3-115/116 (Article VI, Section 6.1; Article IX, Sec)

Reserves & fees

Common Expenses include allocations to reserves (Article I, Section 1.7; Bylaws Section 8)

Leasing & rentals

Yes, but only with prior Board consent (not unreasonably withheld); lease must comply with Declaration (Article V, Section 5.6)

Parking & vehicles

Common Elements parking areas for temporary parking only; no storage, repair, maintenance, or sales (Article V, Section 5.8)

Home business

Not explicitly addressed; commercial use allowed, but likely business activities permitted as part of commercial use (Article V, Section 5.3)

Setbacks / home size

Units may not be reduced to less than 650 sq ft of floor space (Article II, Section 2.4)

Maintenance

Association: management, maintenance, repair, replacement of Common Elements. Unit Owner: maintain Unit in good condition, repair and replace portions of Unit; liable for damages caused by acts/omissions (Article VII, Sections 7.1, 7.3)

Insurance

Casualty insurance on the Property at least 80% replacement cost; public liability insurance at least $2,000,000 per occurrence (Article VIII, Sections 8.1, 8.2)

Voting & meetings

One vote per Unit, equally allocated (Article II, Section 2.6 of Declaration; )

Amendments

By 67% of Unit Owners, except changes affecting Common Elements interest, number of units, boundaries, or use require 100% of affected owners and mortgagees; during Declarant Control Period, need Declarant joinder; amendments impairing Spec (Article XIII)

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