Lake at Breckenridge Townhome Association

Key facts from Lake at Breckenridge Townhome Association's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Townhome Association (Title page; Article I Definitions - Asso)

Legal name

Lake at Breckenridge Townhome Association

Developer / declarant

Morrisville, LLC, a Georgia limited liability company (Preamble)

Governing law

North Carolina Planned Community Act, General Statutes of North Carolina Sections 47F-1-101 through 47F-3-120 (Article I Definitions - Act)

Assessments & dues

Executive Board estimates Annual Expenses, adopts budget, and levies equal assessment against each Lot (Article V, Section 4)

Special assessments

Executive Board may levy special assessments for capital improvements or if budget inadequate (Article V, Section 5)

Collections & liens

Unpaid assessments become lien after 30 days when claim of lien filed; Association may foreclose (Article V, Section 1 and Section 7)

Reserves & fees

Executive Board determines reserve amounts for repair/replacement of Common Elements improvements (Article V, Section 3)

Pets

Not specifically addressed in this document (No provision found)

Leasing & rentals

Not specifically addressed in this document (No provision found)

Parking & vehicles

No boats, trailers, campers, trucks, or utility trailers stored/repaired on property without Board permission; automobiles must be parked on pavement, in operating condition, with current license tag (Article III, Section 7)

Fences

If portion of Lot enclosed by fence, owner responsible for maintenance of that portion (Article IX, Section 2(c))

Architectural approval

Not specifically addressed in this document (no Architectural Review Committee provisions found) (No provision found)

Signs & flags

No signs without prior written consent of Executive Board, except customary name/address signs; includes signs visible from outside and on vehicles (Article VIII)

Maintenance

Owner responsible for roof maintenance and repair (Article IX, Section 1)

Insurance

Casualty insurance on Common Elements improvements (at least 80% replacement cost); comprehensive public liability insurance (Article VII, Section 1)

Voting & meetings

Class A members: 1 vote per Lot; Class B member (Declarant): full voting rights until termination (Article IV, Section 3(a) and (b))

Amendments

Requires approval of 67% of Lots not owned by Declarant, Declarant (if owns any), and HUD/VA if Class B not terminated; recorded with certification by President (Article X)

Amenities

Open spaces, streets, parks, green belts (mentioned in recitals); specific amenities not detailed (Recitals)

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