1517 Bonito Lane Townhomes

Key facts from 1517 Bonito Lane Townhomes's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Planned Community (Now, Therefore, Declarant declares that )

Units / lots

Not explicitly stated; property is a townhome development with multiple lots (Plat of Proposed 1517 Bonito Lane Townho)

Developer / declarant

S.M.S.P. Development, LLC

Governing law

North Carolina General Statutes Chapter 47F (Chapter 47F of the North Carolina Genera)

Assessments & dues

Board adopts proposed budget at least 90 days before fiscal year; provided to lot owners; meeting notice; budget ratified unless majority of lot owners reject; if rejected, prior budget continues (Article VI Section 2: The Board of Direc)

Special assessments

Allowed for capital improvements with assent of majority of members (Article VI Section 3: Special Assessment)

Collections & liens

Lien filed after 30 days unpaid; foreclosure like mortgage under power of sale; lien prior to other liens except prior recorded mortgages and tax liens; extinguished if not enforced within 3 years of docketing (Article VI Section 8: (a) The Associatio)

Reserves & fees

Association may establish and collect late fees for delinquent installments (Article VI Section 7: The Association ma)

Pets

Yes, limited to dogs, cats, or other household pets (Article VII Section 3(e): except that do)

Leasing & rentals

Not explicitly addressed; no restriction found in document. (Not mentioned)

Parking & vehicles

Prohibited (camper, trailer, etc.) (Article VII Section 3(d): No camper, tra)

Fences

Design, placement, materials must be approved by Declarant, Board, or Architectural Control Committee (Article VII Section 2(b): The design, pl)

Architectural approval

Approval required for any dwelling, wall, fence, or other structure; exterior additions or changes including painting; plans must be submitted to Declarant or Board or Architectural Control Committee (Article VII Section 1: No dwelling, wall)

Signs & flags

Not explicitly addressed; except no outside antennas, satellite dishes limited. (Not mentioned (only antennas/dishes))

Setbacks / home size

Each dwelling shall have a minimum of 1500 square feet of enclosed, heated dwelling area (Article VII Section 2(a): Each dwelling )

Maintenance

Association maintains roof (exterior maintenance) but individual owners responsible for repairs not covered by insurance? Actually Article IV Section 5A says Association maintains roof, but Article V Section 1(e) says individual lot owners (Article IV Section 5A: the Association s)

Insurance

Association may purchase a Master Policy to cover all improvements upon the land including individual Lots. (Article V Section 1(f): The Association,)

Use restrictions

Lots shall be used for residential purposes only (Article IV Section 7: Use of Lots ... th)

Voting & meetings

One vote per Lot; when multiple owners, they determine how vote is cast; no fractional voting (Article IV Section 3: Members shall be a)

Amendments

By Declarant without member approval for certain purposes (prior to first lot sale, for additional property, corrections, tax exemption, platting changes, conforming to law) during Developer Control Period; otherwise by unanimous vote of Lo (Article III Section 1 (amendment by Decl)

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