1506 Cban Townhouses

Key facts from 1506 Cban Townhouses's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (unincorporated association under NC Planned Unit Development Act) (Article I.D; Article I.A)

Units / lots

1 (Lot 4, Block 27) (WHEREAS; Exhibit A)

Developer / declarant

Paradise Island VI, LLC (Opening paragraph; Article I.M)

Governing law

North Carolina Planned Unit Development Act, Chapter 47F of the North Carolina General Statutes (Article I.A)

Assessments & dues

All Common Expenses automatically become Special Assessments, each unit pays 50% unless expense is solely the responsibility of one unit. (Article IX)

Special assessments

Every Common Expense automatically creates a Special Assessment against both units (or one unit if applicable). (Article IX: "Every Common Expense shall )

Collections & liens

Unpaid assessments create a lien in favor of the Association, subordinated to any first mortgage. Foreclosure may be conducted similarly to a deed of trust under NC law. Non-defaulting member may bid at foreclosure and acquire the unit. (Article IX: "create a lien...foreclosed )

Reserves & fees

4% of the amount due for each delinquency (Article IX(a))

Pets

Yes, certain domestic household pets as regulated by the Association. No animals, livestock, or poultry except domestic household pets. No commercial breeding. Owners must control excessive barking. (Article III.I)

Leasing & rentals

Yes, including vacation rentals, but rentals of less than the whole unit are specifically prohibited. (Article III.A: "including residential re)

Parking & vehicles

Prohibited (camper, trailer, boat trailer, trailer vehicle). (Article III.K)

Fences

Fences require unanimous consent of both units, except Declarant retains the right to construct a fence along the extension of the dividing line to the east toward the dune line. (Article III.F; Article X.A)

Architectural approval

Yes, unanimous approval of both Unit Owners is required for any building, fence, wall, or other structure, exterior addition or change, and for exterior color changes. (Article X.A, X.B; Article III.G)

Signs & flags

Exterior alterations, including signs, require written consent of both units. (Article III.G: "alter the appearance of )

Maintenance

Each unit responsible for half of roof replacement/re-shingling costs when reasonably necessary. Re-roofing required no less than every 15 years beginning 2018. If one unit's guests/tenants cause damage, that unit pays full cost. (Article III.E)

Insurance

Association obtains liability insurance for losses not insured by unit owners' policies, especially those arising on Common Area. (Article VIII: "Insurance Obtained by the)

Use restrictions

Yes, each Unit shall be occupied only for residential purposes, including short-term vacation rentals. No unit may be divided or subdivided. (Article III.A: "occupied only for reside)

Voting & meetings

Each unit has one vote. Multiple owners of same unit must agree or designate one person to cast the vote. If more than one owner present, vote cast only in accordance with majority interest evidenced by written designation. (Article II: "Each unit shall have one vo)

Amendments

By instrument in writing executed by all Owners of both Units, recorded in New Hanover County Registry. (Article XII)

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