Altura

Key facts from Altura's documents

Community type

Homeowners Association (called 'Assembly') (Section 1.4: 'Assembly is the Altura Ass)

Governing law

North Carolina Planned Community Act, Chapter 47F of the NC General Statutes (Section 1.1: 'The Act is Chapter 47F of )

Special assessments

Permitted for Capital Improvements (with Owner approval if substantial) or emergencies (by 2/3 Executive Board vote) (Section 4.2.3: 'The Executive Board may )

Collections & liens

Assessment charge is a continuing lien on the Parcel; may be foreclosed similar to mortgage lien (Section 4.2.6(b) and (c): 'The Assessmen)

Reserves & fees

Recommended; separate by Maintenance Zone; must be kept in separate account requiring more than one signature (Section 4.1.4: 'Although not required, i)

Voting & meetings

Weighted by Allocated Interests; each Parcel has votes in proportion to its Allocated Interest (Section 3.2.3(a): 'Each Owner shall have)

Amendments

Section 9.3 (not fully provided in excerpt), but mentioned in Table of Contents (Table of Contents: '9.3 Amendment, Redev)

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