Altamont

Key facts from Altamont's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

planned master community (Article I Section 1)

Governing law

North Carolina Planned Community Act, Chapter 47F of the North Carolina General Statutes (Article II Section 1)

Assessments & dues

Set annually by Board based on Annual Budget; allocated equally among all Lots and Views Lots (Article IV Section 6(a))

Special assessments

May be levied for capital improvements or special costs; requires 67% vote of Qualified Voting Members (Article IV Section 7)

Collections & liens

Unpaid assessments become a lien after filing claim of lien; Master Association may foreclose (Article IV Section 3 and Section 9)

Reserves & fees

Board may include reserves in Annual Assessment; must maintain Erosion & Pollution Control reserve; one-time $10,000 transfer to Views Association reserve (Article IV Section 11)

Architectural approval

Master Association Architectural Review Committee and Views ARC must approve plans, designs, improvements (Article II Section 4 and Section 36)

Use restrictions

Lots restricted to single-family residential use (Article II Section 14 and Section 31)

Voting & meetings

Each Owner of a Lot or Views Lot is a Member, entitled to one vote per lot; suspension possible for nonpayment or infraction (Article II Section 17, Article III Secti)

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