Avondale Townhomes Association Inc

Key facts from Avondale Townhomes Association Inc's documents

Community type

townhouse association (Title and Article I definitions)

Developer / declarant

Chastain Park of Wake Forest, LLC, a North Carolina limited liability company (Preamble)

Assessments & dues

During Declarant Guarantee Period: Class A $1,200/year ($100/month); Class B $300/year ($25/month). After period: maximum can be increased by 2/3 vote of each class. (Article V Section 3(A), (D))

Special assessments

For capital improvements, with assent of 2/3 vote at a meeting called with 20-30 days notice. (Article V Section 4)

Collections & liens

Unpaid assessments become a continuing lien on the lot and may be foreclosed. Personal obligation also exists. (Article V Sections 1, 7)

Reserves & fees

Association authorized to accumulate and maintain assessment funds in a reserve account. (Article V Section 2)

Pets

Dogs, cats or other household pets are permitted, but not for commercial purposes and not a nuisance. (Article X Section 8)

Leasing & rentals

Delegation of use to tenants is allowed; no other explicit leasing restrictions. (Article IV Section 2)

Parking & vehicles

Members shall not park in the streets of the subdivision. (Article X Section 11)

Architectural approval

All improvements, landscaping, exterior changes require approval in writing by Board or Architectural Committee. (Article VII)

Setbacks / home size

One-story townhouse: minimum 700 sq ft (exclusive of open porches and garages). More than one-story: minimum 1,000 sq ft; variations up to 8% may be approved by ARC. (Article X Section 4)

Maintenance

Association: exterior maintenance (roofs, gutters, downspouts, trees, shrubs, grass, walks, mailboxes, fences installed by Declarant or Association, exterior power wash, painting doors/trim, annual termite inspection). Owners: interior and (Article VIII Sections 1, 2)

Insurance

Public liability insurance with limits of not less than $1,000,000 per occurrence. Association also obtains fidelity bond. (Article XI Section 1(B), Section 2)

Voting & meetings

Class A: 1 vote per lot; Class B (Declarant): 3 votes per lot until conversion. Conversion upon earlier of equality of votes or December 31, 2014. After conversion, Class A only. (Article III Section 2)

Amendments

Declaration may be amended by two-thirds (2/3) of the Members. While Class B exists, prior written approval of FNMA, FHA, or VA required for annexation, dedication of Common Properties, or amendment. (Article XII Sections 1, 5)

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