Glenoe on Ferry Homeowners Association Inc

What Glenoe on Ferry Homeowners Association Inc's governing documents say

This is a 1987 amendment to the Declaration of Covenants, Conditions, and Restrictions for Glenoe on Ferry, a townhome community in Raleigh, NC, with both attached and detached townhome lots. It modifies the original HOA rules, so it is not a complete rulebook but a partial update.

• What assessments pay for: Assessments fund recreation, health, safety, and welfare of residents, including maintenance of private streets, water/sewer lines outside public easements, erosion control, exterior maintenance of attached townhomes, common area upkeep, insurance, and legal fees.
• How assessments are set: Annual and special assessments are charged at a uniform rate for all detached townhome lots and a separate uniform rate for attached townhome lots, collected monthly. No lot is assessed until the first day of the month after a building permit is issued; lots without a completed roof may pay as little as 25% of the regular assessment.
• Working capital fund: At the first sale closing of each lot with a dwelling, the buyer must pay an amount equal to two-twelfths (2/12ths) of the current annual assessment into a working capital fund. This is not an advance or current payment of regular assessments.
• Association access easement: The association is granted an easement of access to perform maintenance as outlined in Article VIII, Section 3 of the original declaration.
• Mortgage holder notices: Institutional first mortgage holders must receive timely written notice of substantial damage, condemnation proceedings, uncured defaults (after 30 days), insurance policy changes, and any action requiring mortgage holder consent.
• What this document doesn't cover: This is only an amendment, so it does not cover the full set of HOA rules such as pet restrictions, leasing terms, architectural review, or parking rules. Those would be in the original declaration and bylaws.

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.