Greystone Manor Townhomes Association Inc

Key facts from Greystone Manor Townhomes Association Inc's documents

Reflects the 1998 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Residential townhouse community (Preamble)

Legal name

Greystone Manor Townhomes Association, Inc. (Article I, Section 1)

Units / lots

43 (Lots 1-42 in Exhibit A, plus Lot 43 in Exhibit B) (Exhibits A and B)

Developer / declarant

Marlowe Builders, Inc., a North Carolina corporation (Preamble)

Assessments & dues

Maximum $1,080.00 per Class A Lot ($90/month); $270.00 per Class B Lot ($22.50/month) during Declarant Guaranty Period (Article V, Section 3(a))

Special assessments

Requires 2/3 vote of each class of lots; exception for Article IX maintenance assessments (2/3 Board vote only) (Article V, Section 4; Article IX, Sectio)

Collections & liens

Unpaid assessments are a continuing lien on the Lot; Association may foreclose; personal obligation of owner at time assessment fell due (Article V, Section 1)

Reserves & fees

Late charge as determined by Board if not paid within 10 days of due date (Article V, Section 8)

Pets

Dogs, cats, and other household pets allowed, but not for commercial purposes and not as a nuisance (Article X, Section 5)

Leasing & rentals

Owner may lease/sublet; lease must be at least 6 months, in writing, and include specific covenant provision (Article X, Section 9)

Parking & vehicles

Declarant provides minimum parking required by City of Raleigh; Owners maintain parking on their Lot; Association maintains Common Area parking (Article X, Section 10)

Architectural approval

No building, fence, wall, structure, exterior change, or major landscaping without written approval of Declarant (or assignee) (Article VIII)

Home business

No business/trade/activity may be conducted on any Lot unless permitted by Raleigh Board of Adjustments (Article X, Section 2)

Signs & flags

No signs except: Declarant/builder sales signs during construction; one 'for sale/rent' sign up to 6 sq ft; political signs up to 6 sq ft (max 60 days before election, removed within 2 days after) (Article X, Section 4)

Maintenance

Association responsible for maintenance of roofs, gutters, downspouts, and mailboxes constructed as initial improvements (Article IX, Section 1)

Insurance

Association must maintain liability insurance of at least $1,000,000; hazard insurance on Common Area; officers' and directors' liability insurance (Article XI, Section 8; Article IV, Secti)

Use restrictions

No Lot or dwelling shall be used for any purpose not permissible under residential zoning regulations (Article X, Section 1)

Voting & meetings

Class A Lots: 1 vote per lot; Class B Lots (owned by Declarant/builders): 3 votes per lot (Article III, Section 2)

Amendments

First 25 years: 75% of Lots; thereafter: 50% of Lots; must be approved by Raleigh City Attorney and recorded (Article XI, Section 3)

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