Village Square at Amberly Homeowners Association Inc

What Village Square at Amberly Homeowners Association Inc's governing documents say

This is an amendment to the Declaration of Covenants, Conditions and Restrictions for Village Square at Amberly, a North Carolina homeowners association with both single-family detached homes and attached townhomes. It updates rules for how annual assessments and special assessments are approved and voted on by each type of owner. This document is a partial amendment, not the full rulebook.

• Annual assessment increases (single-family): The board can raise single-family annual assessments up to 10% per year without owner approval; larger increases require a two-thirds vote of single-family owners.
• Annual assessment increases (townhomes): The board can raise townhome annual assessments up to 10% per year without owner approval; larger increases require a two-thirds vote of townhome owners.
• Special assessments: Special assessments for capital improvements or extraordinary expenses require a 67% vote of the affected class (single-family or townhome). Townhome-only exterior repairs (e.g., roofs) require a 67% vote of townhome owners.
• Voting and quorum: Meetings to approve assessment increases or special assessments require 30-60 days' notice and a 60% quorum of the affected class; if no quorum, a later meeting can proceed with half that quorum.
• Separate budgets: The association may keep separate books and budgets for the single-family and townhome sections, and each section may ratify its own budget.
• What this document doesn't cover: This is only an amendment; it does not include the full set of community rules (e.g., architectural standards, pet rules, leasing restrictions, or maintenance obligations). Refer to the original Declaration and other governing documents for those.

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.