Creek View at Traditions Owners Association Inc

Key facts from Creek View at Traditions Owners Association Inc's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Single family attached residential (townhomes) subdivision within Traditions master-planned community (Preamble; Section 12 - Dwelling)

Legal name

Creek View at Traditions Owners Association Inc

Units / lots

98 single family attached residential building lots (Preamble)

Developer / declarant

WS - TWF DEVELOPMENT, LLC, a Delaware limited liability company (Preamble; Article I, Section 9 - Declara)

Governing law

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

Assessments & dues

Until December 31, 2015: $780 per Class A Lot; Class C Lots 40% of Class A; Class B Lots zero (unless occupied as residence, then Class A rate) (Article V, Section 3 - Annual Assessment)

Special assessments

May be levied for capital improvements, repayment of indebtedness, or non-recurring costs; requires majority of votes of Lots owned by non-Declarant persons and, during Declarant Control Period, Declarant approval; Declarant's special asses (Article V, Section 6 - Special Assessmen)

Collections & liens

Unpaid assessments are a continuing lien against the Lot; lien attaches if assessment remains unpaid for at least 30 days and claim of lien filed; Association may foreclose; lien subordinate to first mortgages; foreclosure of first mortgage (Article V, Sections 1, 9, 10)

Reserves & fees

Association shall establish one or more separate reserve accounts to fund major repairs and replacements of Sub-Association Common Property; each annual budget shall show amount to be placed in reserve for each category (Article V, Section 13 - Reserve Accounts)

Leasing & rentals

Not directly addressed; however, tenants may exercise easement of enjoyment if they occupy the Unit as principal residence in Wake County (Article IV, Section 2(b) - Tenants)

Parking & vehicles

Association responsible for maintaining parking areas (as part of Yard Improvements); assigned parking areas cannot be suspended for rule violations (Article VI, Section 1; Article IV, Secti)

Architectural approval

Article IX - Architectural Control exists (contents page); specific rules not in provided text (Table of Contents - Article IX)

Maintenance

Association responsible for roofs (part of Exterior Improvements) (Article VI, Section 1 - Association's Re)

Insurance

Association shall maintain hazard insurance on insurable improvements on Sub-Association Common Property on current replacement cost basis in amount not less than 100% of insurable value (Article VII, Section 3(c) - Approval of )

Use restrictions

Dwellings used or occupied, or intended for use or occupancy, as a residence by an individual or one family unit (Article I, Section 12 - Dwelling)

Voting & meetings

Three classes: Class A (owners of lots not owned by Declarant or Builder) - 1 vote per lot; Class B (Declarant) - 25 votes per lot during Declarant Control Period, 1 vote per lot after; Class C (Builders) - no vote during Declarant Control (Article III, Section 2 - Voting Rights)

Amendments

Article XII, Section 2 - Term; Amendment (specific procedure not in provided text) (Table of Contents - Article XII, Section)

Amenities

Recreational amenities may be constructed on Sub-Association Common Area; specific amenities not listed in provided text (Article I, Section 29(a) - Sub-Associati)

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