Rosemont (NC)

Key facts from Rosemont (NC)'s documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Subdivision (ROSEMONT SUBDIVISION)

Developer / declarant

Thomas M. Yurchenco and wife, Katherine A. Yurchenco

Assessments & dues

Board adopts budget based on estimated Annual Expenses and reserves (Section 3. Determination of Annual Asses)

Special assessments

Board may levy special assessment if budget inadequate or for capital improvements (Section 4. Special Assessments)

Collections & liens

Unpaid assessments constitute a continuing lien on the Lot, superior to all liens except ad valorem taxes, first priority mortgage, and secondary purchase money mortgage; Association may foreclose (Section 1. Creation of Lien and Personal)

Reserves & fees

At least half of working capital special assessment payments go to working capital reserve fund for capital repairs and improvements (Section 6... at least one half of the sp)

Use restrictions

Yes, except lots 3 and 3A (single family home and garage apartment) (Section 2. LAND USE AND BUILDING TYPE. N)

Voting & meetings

Three-fourths of lots to cancel or change restrictions (by instrument executed by the owners of )

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