Riverside Townhomes Association Inc

Key facts from Riverside Townhomes Association Inc's documents

Reflects the 2002 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Covenant / Planned Community

Legal name

Riverside Townhomes Association, Inc. (Article I, Section 2)

Units / lots

Maximum 394 units (based on 40 units per acre) (Article II, Section 2)

Developer / declarant

Robert C. Rhein Interests, Inc., a North Carolina corporation (Preamble)

Governing law

Chapter 47F of the North Carolina General Statutes (North Carolina Planned Community Act) (Article I, Section 1)

Assessments & dues

Maximum $1,320.00 per year ($110.00 per month) per Class A Lot until December 31, 2002. (Article V, Section 3)

Special assessments

May be levied for capital improvements, debt repayment, or other purposes with same approval as increase under Section 3(b). (Article V, Section 5)

Collections & liens

Unpaid assessments are a continuing lien on the Lot and personal obligation of owner; Association may foreclose lien. (Article V, Section 1)

Reserves & fees

No explicit reserve fund requirement; working capital fund established. (Article V, Section 10)

Pets

Reasonable number of cats, dogs, and other household pets allowed, not for commercial purposes, not a nuisance. (Article XI, Section 4)

Leasing & rentals

Owner may lease or sublet Unit, but lease must be for at least six (6) months, in writing, and contain specified provision. (Article XI, Section 9)

Parking & vehicles

Each Lot intended to have two-car garage; no parking on streets; no abandoned, partly dismantled, or inoperative vehicles; no boats, trailers, motor homes, campers, buses, trucks over one ton, commercial vehicles, or vans; 'keep' means pres (Article XI, Section 7)

Fences

No fence may be constructed or maintained on any Lot other than fence installed by Declarant or Builder. (Article XI, Section 5)

Architectural approval

If Declarant fails to approve or disapprove within 30 days after complete plans received, approval not required. (Article IX)

Home business

Not explicitly prohibited, but no commercial activity allowed on any Lot. (Article XI, Section 1)

Signs & flags

Only one 'For Sale' or 'For Rent' sign not exceeding 36"x24", and political signs not more than 10 sq ft, placed no earlier than 60 days before election and removed within 2 days after. No signs on Common Area without consent. (Article XI, Section 6)

Maintenance

Owner responsible for maintenance not assigned to Association; must keep Lot and Unit in orderly condition and suitable repair. (Article VI, Section 2)

Use restrictions

All Lots shall be used for residential purposes only; no trade, business, or commercial activity except as allowed for Declarant/Builders. (Article XI, Section 1)

Voting & meetings

Class A Members: 1 vote per lot; Class B Member (Declarant): 3 votes per lot until control period ends, then 1 vote per lot; Class C (Builder): treated as Class B for voting. (Article III, Section 2)

Amendments

During first 25 years, amendment requires 80% of Lots; thereafter 75%. Declarant may amend during control period to conform to law. Must be recorded. (Article XII, Section 3)

Amenities

No specific amenities mentioned; Common Area includes private streets, storm water facilities, water/sewer lines. (Article I, Section 5)

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