Lake Park Luxury Townhouse Apartments, Property Owners Association

What Lake Park Luxury Townhouse Apartments, Property Owners Association's governing documents say

This is a declaration of covenants, conditions, and restrictions for Lake Park Luxury Townhouse Apartments, a townhome community in Angier, NC, governed by a property owners association. It applies to owners of the attached townhome units, and it outlines the rules for residential use, maintenance responsibilities, architectural review, and assessments.

• What you own & maintain: Owners are responsible for the interior of their townhome, including finished surfaces, HVAC units, and water heaters. The association maintains common areas, exterior building surfaces, roofs, gutters, and shared infrastructure. Party walls are shared, with repair costs divided proportionally.
• Architectural review: Any exterior improvement or change requires prior written approval from the Architectural Review Committee (or the Declarant during developer control). The committee can disapprove based on design harmony, and if it doesn't act within 60 days, approval is deemed granted.
• Parking & vehicles: Each unit is entitled to two parking spaces, with one assigned by the association. Boats, trailers, commercial vehicles, and inoperable or unregistered vehicles are prohibited from parking in the development, and the association may tow violators at the owner's expense.
• Pets: Only usual household pets are allowed, and they must be leashed when outside. Owners must clean up pet waste, and failure to do so can result in a special assessment.
• Assessments & fees: The maximum annual assessment is $1,740 per lot ($145/month), plus a $250 annual reserve fee and a $250 capital contribution fee due upon sale. Assessments can increase up to 5% per year without a membership vote, and unpaid assessments accrue 8% interest and become a lien on the property.
• Insurance: The association carries master insurance on common areas, including liability coverage of at least $1,000,000 per occurrence. Each owner must provide proof of their own homeowner's insurance; if they fail to, the association can purchase a policy and charge the owner.
• What this document doesn't cover: This excerpt does not include the full bylaws (only a portion is attached), nor does it specify any age restrictions, rental rules, or pet limits beyond the general pet provision. It also doesn't detail the community's amenities or any specific design guidelines.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.