Carolinapointei

Key facts from Carolinapointei's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

CAROLINA POINTE I OWNERS' ASSOCIATION, INC. (Article 1, Section 1.2(b))

Units / lots

6 units as of the date of this Declaration; maximum of 20 units (Article 2, Section 2.1)

Developer / declarant

C.A.I. Group III, LLC, a North Carolina limited liability company (Recitals A)

Governing law

North Carolina Condominium Act, Chapter 47C of the General Statutes of North Carolina (Article 1, Section 1.1)

Assessments & dues

Executive Board adopts budget; budget ratified by Majority of Unit Owners at meeting unless rejected; if rejected, last ratified budget continues (Article 15, Section 15.4)

Special assessments

Non-budgeted Common Expense assessment greater than 15% of current annual operating budget must be ratified by Unit Owners in same manner as budget (Article 15, Section 15.5)

Collections & liens

Association has a lien on a Unit for unpaid assessments remaining unpaid for 30+ days from filing of record; lien prior to all other liens except pre-recorded mortgages/deeds of trust and real estate taxes; enforceable by foreclosure as a m (Article 15, Section 15.3)

Reserves & fees

Association may establish reasonable reserves for repair, replacement or addition to Common Elements; if not expended by end of calendar year, Association determines whether to retain or return excess (Article 1, Section 1.2(e)(iv))

Pets

No animals, livestock, or poultry of any kind shall be kept, maintained or permitted on the Property or in any Unit (Article 7, Section 7.8)

Leasing & rentals

Leases and rental agreements must be in writing and subject to Condominium Documents and Association requirements (Article 7, Section 7.2)

Parking & vehicles

No parking spaces allocated for exclusive use except Unit 106 Parking Spaces (5 spaces); all other parking spaces available on first-come, first-served basis; 10 visitor parking spaces designated (Article 3, Sections 3.2(g), 3.3)

Architectural approval

No structural addition, alteration, or improvement without prior written consent of Executive Board; changes to exterior appearance require permission of Association (Article 10, Section 10.1(a), (b)(ii))

Signs & flags

No signs or advertising devices on exterior of Units or Common Elements except as permitted in Declaration or approved in writing by Association; 'For Sale' or 'For Lease' signs allowed within Unit windows subject to governmental regulation (Article 7, Section 7.11)

Maintenance

Not explicitly specified; roof is part of Common Elements (structural portion) (Article 18, Section 18.2(a)(i))

Insurance

Commercially reasonable deductible not in excess of $25,000 (Article 18, Section 18.2(b))

Use restrictions

No Unit may be used for residential purposes or overnight lodging; Units restricted to professional and/or office uses (Article 7, Section 7.1(a), (c))

Voting & meetings

Votes allocated to each Unit based on pro-rata percentage of square footage of the Unit compared to total square footage of all Units (Article 6, Section 6.2(c))

Amendments

Declaration may be amended by vote or agreement of Unit Owners to which at least 67% of votes are allocated; unanimous consent required to create or increase Special Declarant Rights, increase number of Units, change Unit boundaries, Alloca (Article 12, Sections 12.1, 12.2, 12.3, 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.