Carriages at Allyns Landing Owners Association Inc

What Carriages at Allyns Landing Owners Association Inc's governing documents say

This is an amendment to the Declaration of Covenants, Conditions and Restrictions for the Carriages at Allyn's Landing, a townhome community in Raleigh, NC. It updates the rules about insurance and rebuilding after damage. It applies to all lot owners in the community.

• Insurance coverage: The association must insure each townhome for 100% of its insurable replacement value, and common areas for 100% of their replacement value. It also must carry liability insurance of at least $300,000 per occurrence for townhomes and $1,000,000 for common areas.
• Who pays for insurance: Insurance premiums are a common expense, paid through annual assessments. Each owner is responsible for any deductible on the master policy for their own townhome.
• Rebuilding after damage: Owners must repair or replace their damaged townhome promptly, using insurance proceeds. If the owner doesn't start within six months, the association can pay for the work and charge the owner, and that debt can become a lien on the property.
• What this document doesn't cover: This is only an amendment, not the full rulebook. It doesn't cover other HOA rules like pets, rentals, or architectural review, which would be in the original declaration.

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.