Thornton Road Townhome Association Inc

Key facts from Thornton Road Townhome Association Inc's documents

Community type

Planned community (townhome) under North Carolina Planned Community Act (Preamble; Article I)

Legal name

Thornton Road Townhome Association, Inc. (Article II - Association; Article III)

Developer / declarant

D.R. Horton, Inc., a Delaware corporation (Preamble)

Governing law

Chapter 47F of the North Carolina General Statutes (Planned Community Act) (Preamble; Article I)

Assessments & dues

Board prepares and approves budget at least 60 days before each fiscal year; Base Assessments levied equally against all Lots subject to assessment to fund Common Expenses; Board may consider assessment income from additional Lots (Section 9.3)

Special assessments

Special Assessments may be levied in accordance with Section 9.4 (not detailed in excerpt) (Article II - Special Assessments; Sectio)

Collections & liens

Unpaid assessments, late charges, interest, costs, attorney's fees, and Administrative Fees remaining unpaid for 30 days or longer constitute a lien on the Lot in favor of the Association when claim of lien filed in Office of Clerk of Super (Section 9.2)

Reserves & fees

Association required to maintain adequate reserve fund for periodic maintenance, repair, and replacement of Stormwater Control Facilities out of assessments; budget shall include contributions to reserve fund for repair and replacement of c (Sections 9.1, 9.3)

Leasing & rentals

Leasing or transfer of any Lot shall not be prohibited; Association may require minimum lease term of six months, limit leases to one per six month period, and otherwise regulate leasing, unless Lot subject to FHA/VA mortgage or prohibited (Section 4.5.3)

Parking & vehicles

Only licensed and operative vehicles classified as motorcycles, passenger cars, station wagons, passenger pick-up trucks, or passenger vans may be regularly parked in driveways; no vehicle used as dwelling; no boats, boat trailers, campers, (Section 4.3.7)

Architectural approval

No structure or thing (including fences) placed, erected, or installed on any Lot, and no improvements or work (including staking, clearing, excavation, grading, exterior alterations, planting/removal of landscaping) without approval and co (Section 5.1)

Signs & flags

No signs, billboards, or advertising displayed to public view on any Lot, right of way, or Common Area; exceptions for Declarant's marketing/construction signs and professionally prepared signs advertising a Lot for sale or rent (max 18" x (Section 4.3.3)

Insurance

Policies may provide for reasonable deductible; in event of insured loss, deductible treated as Common Expense unless Board determines loss due to negligence or willful misconduct of Owner(s), then may assess full deductible as Specific Ass (Section 7.1.4)

Use restrictions

Lots and Common Area shall be used for residential and related purposes only; home business use ancillary to primary residential use permitted subject to Rules and Regulations and applicable laws (Section 4.1)

Voting & meetings

Class A Members (all Owners except Declarant) have one vote per Lot; Class B Member (Declarant) has three votes per Lot owned plus one vote per Lot owned by others; Class B converts to Class A upon all Lots conveyed, surrender of appointmen (Section 3.3)

Amendments

Rules and Regulations may be amended by Declarant during Declarant Control Period, by Board with notice, or by Members with >50% of votes; Architectural Guidelines may be amended by Declarant or ARC with Board consent after delegation; Decl (Sections 4.4, 5.4.1)

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