Jamestown Square Condominiums

Key facts from Jamestown Square Condominiums's documents

Reflects the 1981 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article I)

Legal name

Jamestown Square Condominiums

Developer / declarant

JAG, Inc., a North Carolina corporation (Preamble)

Governing law

North Carolina Unit Ownership Act, Chapter 47A, North Carolina General Statutes (Preamble; Article II, Section 1)

Assessments & dues

Common expenses assessed against each unit owner as provided in Article XIII; the manager may recommend the annual budget, and upon approval by the Board of Directors, collect assessments (Article XIV.A; Article XV)

Collections & liens

Any sum assessed remaining unpaid for more than 30 days constitutes a lien upon the delinquent unit when filed of record in Wake County; lien secures reasonable attorney's fees; in foreclosure, owner required to pay reasonable rental and re (Article XV)

Reserves & fees

Assessments may include a sinking fund for capital improvements; any assessment for reserve or sinking funds held by Board of Directors for designated purposes only; if contingency does not occur, funds expended only for general operation a (Article XII.C.5; Article XV)

Leasing & rentals

Yes, but subject to right of first refusal by Board of Directors and Declarant (Article XIX.A)

Parking & vehicles

Parking spaces are in common areas, not numbered, available generally for owners, tenants, guests, and invitees with seven (7) spaces designated for each unit; no unit has specific spaces; Association governs parking and may make and enforc (Article X)

Architectural approval

No unit owner may make structural addition to common elements without prior written consent of Association; no alteration, repair, replacement, or change of common elements or exterior portions of building (Article XIV.B.1(b) and (c))

Signs & flags

No signs (including 'for rent', 'for sale') or property identification signs on any unit, except in accordance with Raleigh City Code and with written permission of the Board of Directors, or as required by legal proceedings (Article XX.D)

Setbacks / home size

No unit at any time may contain less than 750 square feet (Article XXVII.C)

Maintenance

Not explicitly stated, but exterior surfaces are Association responsibility (Article XIV.B.1(a))

Insurance

All buildings, improvements, and personal property in common elements insured at maximum insurable replacement value (excluding foundation and excavation) or 90% co-insurance blanket coverage; coverage against fire, extended coverage hazard (Article XVI.B)

Use restrictions

No - buildings and units shall be used primarily for business or office purposes (Article VI; Article XX.A)

Voting & meetings

One person per unit ownership entitled to vote; total votes 100; each owner's votes equal to percentage of ownership in common areas per Exhibit D; voting may be by secret ballot upon motion (Article XII, C.3)

Amendments

Declaration may be amended by vote of at least 66 2/3% of undivided interests of all unit owners in common elements, cast in person or by proxy at a meeting; amendment effective when recorded in Wake County after approval by City Attorney o (Article XXII)

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