Cedar Trace Townhomes

What Cedar Trace Townhomes's governing documents say

Cedar Trace Townhomes is a townhome community in Wendell, NC, governed by a homeowners' association (HOA). This document is the Declaration of Covenants, Conditions, and Restrictions (CC&Rs) that binds all lot owners, and it covers property rights, assessments, party walls, architectural control, and use restrictions.

• What you own & maintain: You own your lot and townhome, but the association provides exterior maintenance for roofs, gutters, exterior surfaces, trees, shrubs, and walks (not glass). You may maintain your rear yard, but front-yard planting requires association approval.
• Assessments & fees: Annual assessments are levied per lot, with a maximum of $228 per lot until the first lot is conveyed, then can increase up to 5% per year without a vote. Special assessments for capital improvements require a two-thirds vote. Unpaid assessments accrue 12% annual interest and become a lien on the property.
• Parking & vehicles: Each lot is entitled to two parking spaces, with one assigned near the dwelling. The association can regulate parking of boats and trailers, and no boats or trailers may be parked in public street rights-of-way.
• Architectural review: No building, fence, wall, or exterior alteration can be made without written approval from the Board or an architectural committee, which must respond within 30 days. Approval is based on harmony of design and location.
• Party walls: Walls on lot lines are party walls, with repair and maintenance costs shared proportionally by owners who use them. Disputes are resolved by arbitration.
• Use restrictions: Properties must be used for residential purposes only. No obnoxious or offensive activities are allowed. Dogs, cats, and other household pets are permitted, but not for commercial purposes. Dwellings must have at least 500 square feet (one-story) or 900 square feet (multi-story) of main structure.
• Insurance & rebuilding: Each owner must maintain hazard insurance on their unit equal to replacement value, naming the association as loss payee (second to any first mortgage lender). If a unit is destroyed, the owner must rebuild.
• What this document doesn't cover: This excerpt does not include details on rental restrictions, pet limits (beyond commercial use), or specific rules for common areas beyond general use. It also doesn't specify current assessment amounts or the association's current rules and regulations.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.