Olde Towne Master Owners Association Inc

What Olde Towne Master Owners Association Inc's governing documents say

Olde Towne is a master-planned, mixed-use community in Raleigh, NC, governed by a master homeowners association. This document is the master declaration that sets up the overall framework for the community, which will include residential (single-family, townhomes, condos, apartments) and commercial areas. It binds all property owners within the community and establishes the master association's authority, assessments, and architectural controls.

• Community structure: Olde Towne is a master-planned community that may include single-family homes, townhomes, condominiums, apartments, and commercial areas. Sub-associations may be created for specific neighborhoods, and their rules and assessments are in addition to the master association's.
• Assessments & fees: The maximum annual assessment is $750 per lot (as of 2020), adjustable annually by up to 10% without a vote. Special assessments for capital improvements require a 2/3 vote. A one-time working capital contribution of $500 is due at first conveyance of a lot (except to Declarant or Builder).
• Architectural review: All exterior improvements—including buildings, fences, pools, and changes to exterior colors—require prior written approval from the Architectural Committee. The committee must respond within 60 days of a complete submission; if it doesn't, approval is deemed given.
• Maintenance responsibilities: The association maintains common areas and amenities. Lot owners are responsible for maintaining their own lots, including lawns, buildings, fences, and drainage, and must keep them clean and in good condition.
• Leasing & rentals: Leases must be in writing, subject to the declaration and association rules, and must state that tenant noncompliance is a lease default. The association may require copies of leases and tenant/vehicle information.
• Use of common areas: All owners have a right to use common areas and amenities, subject to association rules. The association may charge fees for amenity use and suspend privileges for unpaid assessments or rule violations.
• Voting & membership: Each lot owner is a member with one vote per lot. The Declarant has a Class B membership with 10 votes per lot and per 0.25 acres of undeveloped land until the Declarant Control Period ends (by 2040 or earlier).
• What this document doesn't cover: This is the master declaration only. It does not contain specific rules for individual neighborhoods (which will be in sub-association declarations), nor does it list specific amenities, pet rules, or rental restrictions beyond the general lease requirements.

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.