Villas at Bedford at Falls River Homeowners Association Inc

Key facts from Villas at Bedford at Falls River Homeowners Association Inc's documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Attached single-family townhomes (Preamble (WHEREAS clause))

Legal name

Villas at Bedford at Falls River Homeowners Association, Inc. (Article I, Section 2)

Developer / declarant

The New Fortis Corporation, 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 Annual Assessment until December 31, 2003: $1,200.00 per Class A Lot; Class B Lot: one-fourth (1/4) of Class A (Article V, Section 3)

Special assessments

May be levied with same approval as increase under Section 3(b); Class B Lot special assessment is one-fourth of Class A (Article V, Section 5)

Collections & liens

Unpaid assessments are a continuing lien on the Lot and personal obligation of the Owner; Association may foreclose; lien subordinate to first mortgages (Article V, Sections 1, 7, 8)

Reserves & fees

Late charge established by Board for assessments not paid within 15 days after due date (Article V, Section 7)

Pets

Yes - reasonable number of cats, dogs, and other household pets allowed, not for commercial purpose, not a nuisance (Article XI, Section 4)

Leasing & rentals

Not explicitly prohibited; references to leased dwellings and tenants imply leasing is permitted (Article III, Section 4; Article IV, Sect)

Parking & vehicles

Association provides minimum parking spaces required by City of Raleigh; Board may assign spaces; no street parking except designated paved spaces (Article XI, Section 6)

Fences

Association not responsible for maintaining fences; no fence maintenance by Association (Article VI, Section 1)

Architectural approval

Architectural review and approval required per Article X of the Master Declaration (Article IX)

Home business

No trade, business, profession or commercial activity on any Lot, except showing Lots for sale/lease; Declarant/Developer may use Lots for sales offices, model homes, etc. (Article XI, Section 1)

Signs & flags

No signs except: one sign ≤10 sq ft advertising property for sale/rent; political signs ≤10 sq ft (max 60 days before election, removed within 2 days after); Declarant/Developer may erect signs on owned Lots and Common Area (Article XI, Section 5)

Maintenance

Association responsible for roofs (Article VI, Section 1)

Insurance

Association shall procure liability insurance ≥$1,000,000; full replacement value hazard insurance on owned property; officers', directors', employees' liability insurance (Article XII, Section 7)

Use restrictions

All Lots shall be used for residential purposes only (Article XI, Section 1)

Voting & meetings

Class A Members: 1 vote per Lot; Class B Member (Declarant): 3 votes per Lot owned (including Developer-owned Lots); after Declarant Control Period, Declarant gets 1 vote per Lot (Article III, Section 2)

Amendments

Declarant may amend during Declarant Control Period to conform to law or correct errors; otherwise 80% of Lots during first 25 years, 75% thereafter; must be recorded; FHA/VA approval if required (Article XII, Section 3)

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