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This page contains:
Articles of Incorporation
By-Laws
Declaration of Condominium
BK 0076 PG378-380
ARTICLES OF INCORPORATION
OF
CHRISTIE CONDOMINIUM CO-OWNERS
A NONPROFIT CORPORATION
 

            The undersigned natural person of the age of 21 years or more, acting as incorporator for the purpose of creating a non-profit corporation under the laws of the State of North Carolina, as contained in Chapter 55A of the General Statutes of North Carolina, entitled “Non-Profit Corporation Act”, and the several amendments thereto, does hereby set forth the following:

I.

The name of the corporation is Christie Condominium Co-Owners.

II.

            The period of duration of the corporation shall be perpetual.

III.

            The purposes for which the corporation is organized are:

a.     To promote the health, safety and welfare of the property owners within the Christie Village Condominium, located in the town of Beech Mountain, Watauga County, North Carolina.

b.     To own, sell, lease, acquire, build, operate and maintain the units, recreation facilities and any other common grounds and elements within the development.

c.      To arrange for the provision of services, on a collective basis, for the benefit of the condominium owners, including but not limited to trash collection, cable television, fire and security protection, and any other service or facility said owners may desire.

d.     To fix assessments, dues, or charges to be levied against members for providing services, facilities, upkeep and maintenance relating to or connected with Christie Village Condominium, which assessments, if unpaid, are to become a lien upon the property of the condominium owner or member not making payment, pursuant to the Declaration of Christ Village Condominium, recorded in Deed Book 174 at Page 845, Watauga County Registry, the By-Laws of the Association of Co-owners of Christie Village Condominium, recorded in Book 174, at Page 889, Watauga County Registry, together with any amendments thereto, as are or may be recorded in the Watauga County Public Registry.

e.     To suspend any member from membership in the corporation during the period of time when there exists a violation of any of the restrictions, covenants, by-laws, or other obligations set forth in the condominium documents and exhibits thereto, together with any amendments thereto, including but not limited to, the failure to pay any dues or assessments as may be imposed by this corporation.

f.       To do any other thing which is in keeping with promotion of health, safety, and welfare of the condominium owners within the development; provided the corporation shall exercise only such powers as are in furtherance of the exempt purposes for organizations set forth in Section 528 of the Internal Revenue Code of 1986 as amended and its regulations as they exist or may hereafter be amended.  The corporation is not organized for pecuniary profit or gain, directly or indirectly to its members nor shall it have capital stock or power to issue certificates of stock or declare or pay dividends, and no part of the net assets of the corporation shall be distributed, upon dissolution or otherwise, to any individual.  The corporation may pay reasonable compensation to members, employees or officers for services rendered.

ARTICLE IV

            The corporation is to have the following class of members;: owners of unit weeks in Christie Village Condominiums whose voting rights have not been suspended pursuant to the Declaration of Condominium, By-Laws, and amendments thereto, as described above.  Such membership shall automatically terminate when such person is no longer the owner of said unit week.  The voting rights and the number of votes given to members shall be governed by the Declaration of Christie Village Condominium, together with the By-Laws and amendments thereto as recorded in the Public Registry of Watauga County, North Carolina.

ARTICLE V

            The address of the initial registered office of the corporation is Route 4, Box 159-A, Conover, Catawba County, North Carolina.  The name of the initial registered agent is R. Neil Eckard.

ARTICLE VI

            The number of directors constituting the initial board of directors shall be five (5), and the names and addresses of the persons who are to serve as directors until the first meeting of the corporation or until their successors are elected and qualified are:

 

J.V. Sherrill                                                   R. Neil Eckard

Box B-7                                                          Route 4, Box 159-A

Forest Avenue                                             Conover, NC 28613

Granite Falls, NC 28630

 

Keith Linse                                                    Mary Kaiser

7 Ladbroke Road                                        3716 Farrill Road, Route 5

Greenville, SC 29615                                Charlotte, NC 28202

 

John Galloway

4030 Tangle Lane

Winston Salem, NC 27106

 
ARTICLE VII

            The name and address of the incorporator is J.V. Sherrill, Box B-7, Forest Avenue, Granite Falls, NC 28630.

            IN TESTIMONY WHEREOF, I have hereunto set my hand, this the 18th day of August, 1987.

                                                                        By: J.V. Sherrill (signed)

                                                                                    (Incorporator)

STATE OF NORTH CAROLINA

COUNTY OF CATAWBA

            I, Lewis D. Weaver, a notary public, do hereby certify that J.V. Sherrill, personally appeared before me this 18th day of August 1987, and acknowledge his signature and delivery of the foregoing articles of incorporation as his voluntary act and deed for the uses and purposes therein expressed, and I am satisfied that he is the person named therein and who executed the foregoing document.

Lewis D Weaver (signed)

            Notary Public

My commission expires: 10-2-91

STATE OF NORTH CAROLINA

COUNTY OF WATAUGA

            The foregoing certificate of Notary Public is certified to be correct.  This instrument was presented for registration this 1st of September, 1987 at 3:15 p.m., and duly recorded in the Office of the Register of Deeds of Watauga County, North Carolina, in Book 076, Page 377.

            This the 1st day of September, A.D., 1987.

Phyllis E. Foster      

Register of Deeds

                                                                                    By:  JoAnn Townsend

                                                                                    Deputy Register of Deeds


The following is a transcript of the By-Laws of the Association of Co-Owners of Christie Village Condominiums.

BOOK 174 PAGES 889 to 898

 
EXHIBIT “IV”
 
BY-LAWS
OF
THE ASSOCIATION OF CO-OWNERS
OF
CHRISTIE VILLAGE CONDOMINIUM
AN ASSOCIATION NOT FOR PROFIT
 

ARTICLE I – Name.

 

            The name of this association shall be the Association of Co-Owners of Christie Village Condominium (the “Condominium”).

 

ARTICLE II – Purpose.

 

            The purpose of this association shall be to provide a collective association of the Unit owners (as hereinafter defined) of the Condominium to manage and control the Condominium and the activities of the owners therein and all things appurtenant  to or related thereto and to carry out all activities and promulgate all rules and regulation and to have all responsibilities and purposes as are given to the Association of Co-Owners of the Condominium in the Declaration of the Condominium which is recorded in the Register of Deed’s Office for Watauga County in North Carolina.

 

ARTICLE III-  Definitions.

 

            Whenever used herein, the following terms shall have the following definitions:

 

(a) Board – means the Board of Administrators of the Association of Co-Owners of the Condominium.

(b)By-Laws – mean the By-Laws of the Association of Co-Owners of the Condominium.

(c) Common Area – means the common area as defined in the said Declaration of the Condominium.

(d) Association of Co-Owners – means all of the owners (as herein defined) of the Condominium.

(e)  Condominiums – means Christie Village Condominium as is defined in the Declaration of Christie Village Condominiums.

(f)   Declaration – means the Declaration of Christie Village Condominiums which is recorded in the office of the Register of Deeds for Watauga County, North Carolina, in Deed Book 174, Page 845, and Condominium Plat Book 2, Page 3.

(g) Development – means Christie Village Condominium as the same may be shown on maps or plats which are attached as exhibits to the Declaration or which may be recorded from time to time.

(h) Improvements – means and includes all building, out-buildings, streets, roads, driveways, parking areas, fences, retaining and other walls, landscaping poles, antennae, and any other structure facility of any type or kind located within Christie Village Condominiums.

(i)    Vacation Home or Condominium Home – means any apartment or living unit locate within the Condominium.

(j)    Unit Week – means a one week period of ownership in a vacation home, and further means, as the same is defined in the declaration.

(k) Owner – means any person or legal entity who holds title to a condominium unit or to any one or more unit weeks in a condominium unit committed to Interval Ownership and any person or legal entity who has a contract to purchase a condominium unit or one or more unit weeks in a condominium unit committed to Interval Ownership pursuant to written agreement (in which case, the seller under said agreement shall cease to be the owner of said condominium unit or of the unit weeks under contract of sale while said agreement is in effect) and any person or entity owning an interest in any of the real property and/or any improvements thereon located within the Condominium.

(l)    Mortgagee or Institutional First Mortgagee – is hereby defined as having the same definition as is given the same in the Declaration.

(m)           Plat – means any map or plats of the Condominium or any part or parts thereof that may be recorded from time to time.

 

ARTICLE IV – Submission to Condominium Ownership.

 

            Christie Village is hereby submitted to the provisions of the North Carolina Unit Ownership Act and all amendments thereto and provisions of said act, in all instances where said acts apply, are hereby expressly made a part of these By-Laws.

 

ARTICLE V – Personal Application

 

            All present or future owners, tenants, future tenants, or their employees or any other person that might use the facilities of the Condominium in any manner are subject to all matters, rules and regulations set forth in these By-Laws and to all rules and regulations hereinafter promulgated by the Association of Co-Owners and/or Management Firm.

 

            The mere acquisition or rental of a vacation home or any unit week herein or the mere fact of occupancy of any said units whatsoever, will signify that these By-Laws and all the rules and regulations and all provisions of the Condominium are accepted, ratified, and will be complied with.

 

ARTICLE VI – Voting Majority of Owners, Quorum and Proxies

 

            Section 1 – Voting.  Voting shall be on a percentage basis and the percentage of the vote to which the owner is entitled is the percentage assigned to his interest in the Declaration and Exhibits thereto. Only those owners who have paid their fees and assessments in full through the current year will be eligible to vote.  (Last sentence added by amendment dated October 4, 1978.)

 

            Section 2 – Majority.  As used in these By-Laws, the term “majority of owners” shall mean those owners holding fifty-one (51%) percent of the vote in accordance with the percentages assigned in the Act.  A majority of voters shall be required to adopt any decisions affecting same.

 

            Section 3 – Quorum.  Except as otherwise provided in these By-Laws, the presence in person or by proxy of a majority twenty percent (20%) of owners as defined in Section 2 of this Article, shall constitute a quorum.  (Amendment dated October 4, 1978.)

 

            Section 4 – Proxies.  Votes may be cast in person or by proxy.  Proxy shall be in the form as determined by the Board and must be filed with the Secretary at least fifteen (15) days before the appointed time of a regular meeting or at least one (1) day before the appointed time of a special meeting.

 

ARTICLE VII – Section 1 - Association of Co-Owners.  The Association of Co-Owners (hereinafter referred to as the Association) will have the responsibility of administering the project, approving the annual budget, establishing and collecting monthly assessments and arranging for the management of the project, pursuant to the agreement containing provisions relating to the duties, obligations, removal and compensation of the Management  Firm.  All such duties may, however, unless expressly prohibited by the Act or the Declaration, be assigned to the Management Firm by the Association.  Except as otherwise provided, decisions and resolutions of the Association shall require approval of a majority of owners.

 

            Section 2 – Place of Meeting.  Meetings of the Association shall be held at the office of the Management Firm within the Condominium or such other suitable place convenient to the owners as may be designated by the Board.

 

            Section 3 – Annual Meeting.  The first annual meeting of the Association shall be held on January 4, 1978; thereafter, the annual meetings of the Association shall be held on the second Tuesday in September in September or October of each succeeding year.  At such meetings, there shall be elected by ballot to the owners, a Board of Administrators in accordance with the requirements as hereinafter set forth in these By-Laws.  The Owners may also transact such other business of the Association as may properly come before them.  (Amendment dated October 4, 1978.)

 

Section 4 – Special Meetings.  It shall be the duty of the President to call a special meeting of the Owners as directed by resolution of the Board, or upon a petition signed by a majority of the Owners and having presented same to the Secretary.  The notice of any special meeting shall state the time and place of such meeting and the purpose thereof.  No business shall be transacted at a special meeting except as stated in the Notice unless by consent of sixty (60%) percent of the owners present, either in person or by proxy.

 

Section 5 – Notice of Meeting.  It shall be the duty of the Secretary to mail a notice of the annual meeting or special meeting stating the purpose thereof as well as the time and place where it is to be held, to each owner on record.  Notices of annual meetings shall be mailed at least thirty (30) days, but not more than forty (40) days prior to such meetings.  Notices of special meetings shall be mailed at least five (5) days but not more than ten (10) days prior to such meetings.  The mailing of a notice in this manner shall be considered “notice served”.

 

Section 6 – Adjournment of Meetings.  If any meeting of owners cannot be organized because a quorum has not attended, the owners who are present, either in person or in proxy, may adjourn the meeting to a time not less than forty-eight (48) hours from the time the original meeting was called.

 

Section 7 – Order of Business.  The order of business of all meetings of the owners of units shall be as follows:

 
(a) Roll Call.

(b) Proof of notice of meeting or waiver of notice.

(c)  Reading of minutes of previous meeting.
(d) Report of officers.
(e)  Report of committees.

(f)    Election of inspectors of election.

(g)  Election of directors.
(h) Unfinished business.

(i)    New business.

 

ARTICLE VIII –Board of Administrators

 

            Section 1 – Number and Qualifications.  The affairs of the Association shall be governed by a Board of Administrators composed of three (3) persons, or such greater odd number as may be determined from time to time by a vote of a majority of owners, all of whom must be owners as hereinabove defined, or spouses of owners or officers of corporate owners.

 

            Section 2 – Powers and Duties.  The Board shall manage and control the affairs of the Association, adopt reasonable rules of order for the conduct of the meetings of the Association, and with reference thereto, have sole determination upon procedural questions upon which no rules have been adopted, and select the officers of the Association.  The Board may also establish committees of the Association and appoint members thereof.  It may assign to such committees such responsibilities and duties not inconsistent with the provisions of these By-Laws or with law as it may deem appropriate.  The Board may further issue and promulgate its rules and regulations as it deems necessary or proper to carry out the duties and responsibilities of itself and the Association as the same are determined and defined in the Declaration.

 

            Section 3 – Other Duties.  In the event there is no Management  Agreement with a management firm, in addition to duties imposed upon the Board by these By-Laws or resolution of the Association, the Board shall further be responsible for the care, upkeep and surveillance of the Condominiums, and the common areas and facilities thereof, collection of monthly assessments and maintenance fees from the owners and designation of the Condominium, the common areas and facilities thereof.

 

            Section  4 – Election and Term of Office.  At the first annual meeting of the Association, the term of office of a bare majority of the Administrators shall be fixed at two (2) years, and the term of the remaining director or directors shall be fixed at one (1) year.   At the expiration of the initial term of office of each Administrator, his successor shall be elected to serve a term of two (2) years.  The Administrators shall hold office until their successors have been elected and hold their first meeting.  At the first annual meeting, of those nominated the persons receiving the greatest plurality shall be elected for a term of two (2) years, and the person or persons receiving the next highest plurality shall be elected for a term of one (1) year.  The number of Administrators shall be elected at each annual meeting to equal the number of vacancies then existing.  There shall be no cumulative voting allowed.

 

            Section 5 – Qualification of Administrators.  Administrators shall be twenty-one (21) years of age or older.

 
            Section 6 – Meetings

(1)The first meeting of a newly elected Board of Administrators shall be held within ten (10) days following the first annual meeting of the Association and at such place and at such time as shall be fixed by the Administrators at the meeting in which they were elected and no notice shall be necessary to the newly elected Administrators in order legally to constitute such a meeting, provided a majority of the whole Board shall be present.

 

(2)Regular meetings of the Board of Administrators may be held at such time and place as shall be determined from time to time by a majority of the Administrators.  At least two (2) such meetings shall be held during each fiscal year.  Notice of regular meetings of the Board of Administrators shall be given to each Administrator personally or by mail, telephone or telegraph at least three (3) days prior to the day named for such a meeting.

 

(3)Special meetings of the Board of Administrators may be called by the President on three (3) days notice to each Administrator personally or by mail, telephone or telegraph, which notices shall state the time, place and purpose of the meeting.  Special meetings of the Board of Administrators shall be called by the President or Secretary in like manner and on like notice at the written request of a majority of the Board.

 

(4)Before or at any meeting of the Board, any Administrator may, in writing, waive notice of such meeting and such waiver will be deemed equivalent to the giving of such notice.  Attendance by an Administrator at any meeting of the Board shall be a waiver of notice by him at the time and place thereof.  If all the Administrators are present at any meeting of the Board, no notice shall be required and any business may be transacted at such meeting.

 

(5)Unless prohibited by law, any action which may be taken at a meeting of the Board may be taken without a meeting if authorized in writing and signed by all the Administrators who would have been entitled to vote on said action at a meeting and filed with the Secretary of the Association.

Section 7 – Quorum.  A majority of the Administrators shall constitute a quorum to transact business of the Board and the act of the majority of the Administrators present at any meeting shall be deemed to be the act of the Board.

Section 8 – Vacancies.  If any vacancy exist on the Board, such vacancy shall be filled by the remaining Administrators, even though those remaining administrators might be less than a quorum.  Any person or persons so elected shall serve out the expired term of the Administrator or Administrators who have been replaced.

Section 9 – Removal of Administrators.  Any one of the administrators may be removed with cause at any time by a vote of the members holding majority of the votes at any special meeting called for that purpose.

Section 10 – Fidelity Bonds.  The Board may, at its sole discretion, require that officers of the Association handling or responsible for Association funds furnish a fidelity bond.  Premiums on such bonds shall be paid by the Association.

ARTICLE 1X –Officers

            Section 1 – Designation.  The principal officers of the Association shall be a President, a Vice-President, a Secretary and a Treasurer, all of whom shall be elected by and from the Board.  The Administrators may appoint assistant treasurers and assistant secretaries and such other officers as in their judgment may be necessary.  The offices of President and Secretary shall not be held by the same person.

            Section 2 – Election of Officers.  The officers of the Association shall be elected annually by the Board and shall hold office at the pleasure of the Board.

            Section 3 – Removal of Officers.  Upon the vote of a majority of the Board, any officer may be removed either with or without cause and his successor elected at any regular meeting of the Board or at any special meeting of the Board called for such purpose.

            Section 4 – President.  The President shall be the chief executive officer of the Association.  He shall preside at all meetings of the Association and Board.  He shall have all the general powers and duties which are usually vested in the office of the President of such an association, including, but not limited to, the power to appoint committees from among the owners from time to time as he may, in his discretion, decide is appropriate to assist in the conduct of the affairs of the association. 

            Section 5 – Vice-President.  The Vice-President shall take the place of the President and perform his duties whenever the President shall be absent or unable to act.  When neither the President or the Vice-President is able to act, the Board shall appoint some other member of the Board to act on an interim basis.  The Vice-President shall also perform the other duties as shall from time to time be imposed upon him by the Board.

            Section 6 – Secretary.  The Secretary shall keep the minutes of all the meetings of the Board and the minutes of all meetings of the Association.  He shall have charge of such books and papers as the Board may direct.  He shall, in general perform all the duties incident to the office of secretary.

            Section 7 – Treasurer.  The Treasurer shall have the responsibility for the Association funds and the securities which shall come directly into the hands of the Association, and shall be responsible for full keeping of accurate accounts of all receipts and disbursements and books belonging to the Association.  He shall be responsible for the deposit of all monies and other valuable effects in the name and to the credit of the Association in such depositories as may from time to time be designated by the Board.  He shall also be responsible for delivering to the Management Firm, any and all funds of the Association which, by agreement, are to be received by the Management Firm.

ARTICLE X – Obligation of the Owners.

            Section 1 – Assessments.  All owners are obligated to pay all assessments and charges levied and imposed by the Association and/or by the Management Firm for such purposes as are enumerated in the Declaration or for which the Management Firm is given the power to assess under the Management Agreement and the Declaration.  Such charges or assessments so levied shall be paid on or before dates affixed by resolution of the Board.  Written notice of the charge and the date of payment shall be sent to each owner at the address given by such owner to the Association.  All common assessments shall be prorata depending upon each owner’s percentage of ownership as is determined in the Declaration and Exhibits thereto.  Such assessment shall include payments to a general operating reserve in a reserve fund for replacements and all other things as required or set forth in the Declaration and Exhibits and as provided for in the Management Agreement, if there be one.

            Section 2 – Collection and Lien.  The amount of assessment levied by the Association shall be paid on or before the date affixed by resolution of the Board.  If not so paid, the amount of such assessment, plus any other charges thereon, including interest at the maximum limit provided by law per annum from the date delinquency and costs of collection, including attorney’s fees, shall constitute and become a lien on the vacation home (or the unit weeks therein) so assessed, when the Board causes it to be recorded in the office of the Register of Deeds for Watauga County, North Carolina.  Such lien rights shall be as provided for in accordance with the terms and provisions of the Declaration and Exhibits thereto.  A notice of assessments, which shall state the amount of the assessment and such other charges and description of the vacation home (or unit weeks therein) which have been assessed, shall be mailed to the owner. Such notice shall be signed either by the Secretary of the Association or by a duly authorized agent of the Management Firm.  Upon payment of said assessment and charges or other satisfaction thereof, the Board shall, within reasonable time, cause to be recorded a notice stating the satisfaction and release of said lien.

            Section 3 – Priority of Lien.  The priority of lien hereinabove set forth shall be as provided in the Declaration.

            Section 4 – Enforcement.  The lien provided for herein may be foreclosed by suit of the Association in like manner as a mortgage and in such event the Association may be a bidder at a foreclosure sale.   The Association or its duly authorized agent may also pursue any other remedy against any owner owing money to it which is available to it by law, or equity for the collection of debt.

            Section 5 – Proof of Payment.  Upon request, the Association shall furnish statements certifying that all assessments then due have been paid or indicating the amount then due.

            Section 6 – Suspension.  The Association or the Management Firm, if there be one, shall suspend any owner not paying assessments when due and such owner shall be refused entrance into the Condominium and use of the facilities thereof until all assessments and penalties to which the owner is subject have been paid.

            Section 7 – Maintenance and Repair. Each and every owner shall perform promptly all maintenance and repair work required of individual owners by the Declaration and exhibits thereto, or which, if within his own unit, if omitted, would affect the Condominium in its entirety or in a part belonging to other owners.  The Association or the Management Firm, if there be one, shall be responsible for all maintenance and repair work required of the Association in the Declaration.  An owner shall reimburse the association or Management Firm, if there be one, for any expenditures incurred in repairing or replacing any common areas or facilities damaged by such unit owner, his family, guests or leasees.

            Section 8 – Abuse of Family Units.

(1) All units shall be utilized for residential purposes only.

 

(2) An owner shall not make any structural modifications or alterations in his unit  or located therein without approval of the Association, or if so delegated, the  Management Firm as set forth in the Declaration.

Section 9- Use of common areas and facilities and restricted common areas and facilities.  Any owner shall not place or cause to be placed in any general common area furniture, packages or objects of any kind.  Such areas shall be used for no purpose other than normal transit through them or normal use of the facilities provided.

Section 10 – Right of entry

(a) An owner shall grant the right of entry to the Management Firm or to any other person authorized by the Board or the Association to enter his unit on a regular recurring basis as the same is provided in the Declaration for routine maintenance and upkeep.

 

(b) An owner shall grant the right of entry to the Management Firm or to any  other person authorized by the Board or the Association to enter his unit in the case of any emergency originating in or threatening the unit, whether the owner is present at the  time or not.

Section 11 – Occupancy and Use.  If any owner shall own less than all the unit weeks of his condominium unit, he shall occupy and use said unit and the common areas and facilities of the Condominium only during his unit weeks (less, however, the maintenance period) and only during the times contained within his unit weeks and shall have no right of entry, occupancy or use of his unit or any other part of the Condominium at any other time.

Section 12 – Rules of Conduct.

(a)  No resident shall post any advertisement or posters of any kind on or in the project except as authorized by the Association or as is permitted in the  Declaration.

 

(b) Residents shall exercise extreme care about making noises or the use of musical instruments, radios, television and amplifiers that may disturb the other residents.

 

(c)  It is prohibited to hang garments, rugs, etc. from the windows or from any of  the sides or from any of the buildings or parts thereof.

 

(d) It is prohibited to throw garbage or trash outside the disposal installation provided for such purpose in the service area.

 

(e)  It is prohibited to dust rugs, etc. from the windows or to clean rugs, etc. by beating on the exterior part of any of the building.

 

(f)    No owner, resident or lessee shall have installed or install wiring for electrical or telephone installation, television antennae, machines or air conditioning units, etc. on the exterior of the building or that protrude through the walls or roof of any building except as authorized by the Board or the Management Firm.

 

(g)  Nothing herein contained shall limit in any manner the power of the Association, the Board, and/or the Management Firm, to issue and promulgate such additional rules and regulations as are deemed necessary or desirable for the use, occupancy, and enjoyment of the condominium by the owners thereof.  Such rules and regulations shall be binding upon and enforceable upon the owners, their families, guests and/or lessees.

ARTICLE XI – Mortgagees.

Section 1 – Any owner who mortgages his unit or his interest therein shall notify the Association through the Management Firm or the President of the Board in the event there is no Management Firm, of the name and address of his mortgagee and the Association and/or Management Firm shall maintain such information on a regular basis.

Section 2 - Notice of Unpaid Assessments.  The Association or the Management Firm shall, at the request of the Mortgagee of a unit, report any unpaid assessments due from the owner of the unit.

Section 3 – Any and all institutional first mortgagees shall have the rights and powers granted to them by the Declaration, and nothing herein contained shall supersede such rights and powers.  In the event any right or duty or power herein delegated or granted to the Association by these By-Laws is given to an institutional first mortgagee, by reason of the Declaration, then such institutional first mortgagee shall have such rights and powers and votes in such decisions as are granted in the Declaration.

ARTICLE XII – Compliance

            These By-Laws are set forth to comply with the requirements of the Act.  In case any of these By-Laws conflict with the provisions of said statutes, it is hereby agreed and accepted that the provisions of the statutes will apply.

ARTICLE XIII – Amendments.

            These By-Laws may be amended by the vote of the Co-Owners representing two-thirds of the the total value of the property.  The percentages set forth in the Declaration and the Exhibits thereto are based upon the value of each condominium unit in relation to the entire Condominium project and therefore, two-thirds of the vote of the voting members shall be sufficient to amend these By-Laws. Any such amendment shall not become operative unless set forth in an amendment to the Declaration duly recorded.  All unit owners shall be bound to abide by any amendment upon the same being passed and duly set forth in such amendment to the Declaration and duly recorded.

            These by-Laws are hereby adopted, accepted and fully ratified as the By-Laws of the Association of Co-Owners of Christie Village Condominium the 10th day of October, 1977.

Signed Patricia Karen Harville                                                                            Vice President and Duly Authorized Agent

 

 


 

The following is a transcript of the Declaration of Condominium dated October 10, 1977

BOOK 174 PAGES 845 to 878

 

DECLARATION OF CONDOMINIUM

FOR CHRISTIE VILLAGE CONDOMINIUM

Table of Contents

 

Submission of Property to Chapter 47A of North Carolina Statutes

 
Article I                 Definitions
 
Article II               Association of Unit Owners

                                Section 1              Responsibility for Administration

                                Section 2              Agreements

                                Section 3              Voting Rights

 
Article III              Property Rights

                                Section 1              Identification of Units

                                Section 2              Identification of Units Committed to Interval Ownership

                                Section 3              Common Elements

                                Section 4              Use of Common Elements and Facilities

                                Section 5              Limited Common Elements

                                Section 6              Development Plan

 
Article IV              Architectural Control
 
Article V               Maintenance of Units Committed to Interval Ownership
 

Article VI              Maintenance Fee for Units Committed to Interval Ownership

 
Article VII            Common Expenses and Common Surplus
 
Article VIII           Method of Amendment of Declaration
 
Article IX              By-Laws of Association of Co-Owners
 
Article X               Operating Entity of the Regime
 
Article XI              Assessments of the Association of Co-Owners
 
Article XII             Insurance Provision

                                Section A.            Liability Insurance

                                Section B.            Casualty Insurance

                                Section C.            Insurance on Units committed to Interval Ownership

                                Section D.            Other Insurance

                                Section E.            Source of Insurance

                                Section F.            Right to Advance Premium

                                Section G.           Authority to Compromise Claims

                                Section H.            Casualty Loss

                                Section I.             Surplus Proceeds

 
Article XIII           Use and Occupancy
 
Article XIV           Maintenance and Alterations

                                Section A.            Management Company

                                Section B.            Cost Limitation on Alterations or Additions to Common Elements

                                Section C.            Maintenance of Units not committed to Interval Ownership

                                Section D.            Maintenance of Units committed to Interval Ownership

                                Section E.            Right of Entry, Restriction on Signs

1.       Management Firm Right of Entry

2.       Restrictions on Signs or Notices

Section F.            Failure of Owner to Maintain Unit
Section G.           Exterior Appearance Restrictions
Section H.            Maintenance of Common Elements
 
Article XV            Terminations

                                Section A.            Exercise of Option

                                Section B.            Price

                                Section C.            Payment

                                Section D.            Closing

 
Article XVI           Management Agreement

                                Section A.            Powers Delegated to Management Firm

                                Section B.            Assignment of Rights to Management Firm

 
Article XVII          Miscellaneous Provisions

                                Section A.            Ownership of Exterior and Common Walls

                                Section B.            Valid Easements and Encroachments

                                Section C.            Exemption from Liability to Contribute Towards Common Expenses

                                Section D.            Unit Week Property Tax Payment

                                Section E.            Covenants Running With the Land

                                Section F.            Invalidity of Part of this Agreement, Validity of Remainder

                                Section G.           Mailing of Notices

                                Section H.            Developers’ Right of Use

                                Section I.             Gender

                                Section J.             Captions

                                Section K.            Institutional First Mortgage

                                Section L.             Effect of Invalidity of Part of Agreement

                                Section M.          Developers Warranties or Guaranties

                                Section N.           Acceptance of Deed, Approval of Covenants, Terms and Conditions

                                Section O.           Action for Partition Waived

                                Section P.            Restrictions on Real Property Submitted to Condominium Ownership

                                Section Q.           Easements

                                Section R.            Act Shall Prevail

 
Article XVIII        Covenants and Restrictions
 

Article XIX           Restrictions on Ownership and Unit Owners of Condominiums Committed to Interval Ownership

                                Section 1.            Restriction on Partition

                                Section 2.            Restriction of the Right of Occupancy

                                Section 3.            Covenant Against Merger of Interests

 

Article XX             Person to Receive Service of Process

STATE OF NORTH CAROLINA       )
                                                                :               SS
COUNTY OF WATAUGA                 )
 
DECLARATION OF CONDOMINIUM
FOR
CHRISTIE VILLAGE CONDOMINIUM
PURSUANT TO CHAPTER 47A
OF THE
NORTH CAROLINA GENERAL STATUTES
 

KNOW ALL MEN BY THESE PRESENTS, that this Declaration is made on the date hereinafter set forth by CEDAR VILLAGE WEST, INC. hereinafter called the “Declarant” and/or Developer and/or Grantor, a North Carolina corporation, pursuant to the provisions of Chapter 47A of the North Carolina General Statutes, as amended, entitled the “Unit Ownership Act”.

 
WITNESSETH:

WHEREAS, Declarant is the owner in fee simple of real property and buildings and improvements thereon which property is located in Watauga County, North Carolina, which is more particularly described in Exhibit I attached hereto and incorporated herein by this reference (hereinafter referred to as the  “property”); and

 

WHEREAS, Declarant desires to submit the property to the provisions of Chapter 47A of the North Carolina General Statutes as amended (hereinafter sometimes referred to as the Act) hereby creating a Condominium known as Christie Village Condominiums; and

 

WHEREAS, Declarant desires to publish a plan for the individual ownership of the several condominium units and the ownership of individual interests in that real property hereinafter defined as “Common Areas and Facilities”; and

 

WHEREAS, Declarant desires to convey the property pursuant and subject to certain protective covenants, conditions, restrictions, reservations, liens, and charges hereinafter set forth;

 

NOW, THEREFORE, Declarant hereby submits the property to the provisions of Chapter 47A of the North Carolina General Statutes, as amended, and hereby publishes its plan as to the division of the property, the imposition of covenants, conditions, restrictions, reservations, liens and charges thereon and the individual ownership thereof, and Declarant hereby specifies that this Declaration shall constitute covenants, conditions, reservations and restrictions, which shall run with the property and shall bind and inure to the benefit of Declarant, its successors and assigns, and all subsequent owners of any interest in the property, grantees, successors, heirs, executors, administrators, devisees or assigns.

 
 
ARTICLE I
 

                Definitions.  As used in this Declaration and By-Laws and Exhibits attached hereto, and all Amendments thereof, unless the context otherwise requires, the following definitions shall prevail:

 

(a)    Assessment, means a share of the funds required for the payment of common expenses or other expenses which, from time to time, are assessed against some or all of the unit owners.

(b)   Building, means a structure or structures, containing in the aggregate two or more Townhouses, comprising a part of the property.

(c)    By-Laws, means the By-Laws of the Unit Owners Association specified below, as they exist from time to time.

(d)   Common Elements, means and includes all of the property of the Christie Village Condominiums excluding the Townhouses and includes general common elements and limited common elements.

(e)   Common Expenses, means and includes (1) all expenses incident to the administration, maintenance, repair and replacement of the common elements, after excluding therefrom any and all expenses which are the responsibility of a unit owner as set forth in Sections B and C of Article XIV hereof, (2) expenses determined by the Unit Owners Association to be Common Expenses: (3) expenses assessed each unit owner by the Beech Mountain Property Owners Association; and (4) expenses declared by the Act to be Common Expenses.

(f)     Common Surplus, means the excess of all receipts of the Unit Owners Association, including, but not limited to, assessments, rents, profits and revenues on account of the common elements over and above the amount of common expenses of Christie Village Condominium and not otherwise reserved or designated for specific use.

(g)    Condominium Unit or Units, means and individual townhouse or villa, each townhouse or villa is delineated in the Survey annexed to this Declaration as Exhibit I, together with its share of the common elements as described and determined herein and in the Exhibits hereto.  The physical boundaries of each unit are as delineated in the Survey aforedescribed and as described herein.  For purposes of this Declaration, the terms “townhouse” and “villa” shall be considered to be synonymous.

(h)   Co-Owner or Unit Owner, means any person or persons, including developer, owning a condominium unit or units or owning any unit weeks in a unit committed to Interval Ownership.  The term Co-Owner or Unit Owner shall not refer to any mortgagee, as herein defined, unless such mortgagee has acquired title pursuant to foreclosure or any proceeding in lieu of foreclosure.

(i)      Unit Owners Association, means all of the Co-Owners.

(j)     Developer, means the North Carolina Corporation whose name appears at the end of this declaration as “Developer”, its successors and assigns.

(k)    Documents, means the Declaration and all Exhibits annexed hereto, the By-Laws of the Association, and the Management Agreement, as one or more of them may be amended from time to time.

(l)      The Act, means and refers to Chapter 47A of the Statutes of North Carolina, as amended.  It is the intent of the grantor that the provisions of this Act shall control the creation of the Condominium.  Should there be any conflict between the Act and this Declaration, the Act shall control.

(m) Institutional Mortgagee, means a bank, savings and loan association, insurance company or union pension fund authorized to do business in the United States of America, an Agency of the United States Government, a real estate or mortgage investment trust, or a lender generally recognized in the community as an institutional type lender having a lien on the property or any part hereof.

(n)   Limited Common Elements, means and includes those common elements which are agreed upon by the Co-Owners to be reserved for the use of a certain number of units to the exclusion of the other units and also includes those common elements designated herein and in the Exhibits hereto as limited common elements.

(o)   Management Agreement, means and refers to that certain Agreement attached to this Declaration and made a part hereof, which provides for the management of the Christie Village Condominium.

(p)   Management Firm, means and refers to the entity identified as the Management Firm in the Management Agreement attached to this Declaration, its successors and assigns.  The Management Firm shall be responsible for the management of the Christie Village Condominium as described in the Management Agreement attached to this Declaration and made a part thereof.

(q)   Declaration, means this Declaration establishing and recording the property of the Christie Village Condominium.

(r)     Occupant, means any person or persons in possession of a townhouse or villa.

(s)    Person, means an individual, firm, corporation, partnership, association, trust or other legal entity, or any combination thereof.

(t)     Property, means and includes the land, whether leasehold or in fee simple, the buildings, all improvements and structures thereon, and all easements, rights and appurtenances belonging thereto, whether or not contiguous, intended for use in connection with the Christie Village Condominium.

(u)   Townhouse or Villa, means a part of the property intended for residential use including one or more rooms or enclosed spaces located on which one or more floors (or parts thereof) in a building, and with direct exit to a public street or highway, or to a common area leading to such street or highway and is synonymous to the word “Unit” in the Act.

(v)    The following definitions shall refer only to those units committed to and sold under a plan of “Interval Ownership”.

1.       “Interval Ownership” shall be defined as the ownership of one or more unit weeks.

2.       “Interval Owner” shall be defined as the unit owner of an Interval Ownership.

3.       “Unit Weeks” shall consist of individual unit weeks which shall each be an interest in a condominium unit and shall thereby constitute and interest therein for stated periods of time per year for a stated number of years, together with a remainder interest in said unit in fee simple.

 

”Unit  Weeks” shall be computed as follows:

 

                                Unit week No. 1 is and shall be the seven (7) day period commencing at four (4) o’clock p.m. on the first Friday of each year.  Unit week No. 2 is and shall be the seven (7) days next succeeding.  Additional weeks up to and including Unit Week No. 51 shall be and are computed in a like manner.  Unit Week No. 52 shall be the seven (7) day period next succeeding Unit Week No. 51 plus any days not otherwise designated prior to commencement of Unit Week No.1 for the next succeeding calendar year.  Unit Weeks shall run from four (4) o’clock p.m. of the first Friday of the period to four (4) o’clock p.m. of the last Friday of the period.  Unit Owners of Interval Interests shall relinquish their rights to use of the last seven (7) hour period of each such Unit Week owned (from nine (9) o’clock a.m. until four (4) o’clock p.m. on Friday) to allow for cleaning, repairs and maintenance by the Management Firm.

 

4.       A Unit Committed to Interval Ownership’” shall be any condominium unit sold under a plan of Internal Ownership.  The condominium unit shall become a condominium committed to Interval Ownership upon the recording of the first deed in said condominium unit conveying unit weeks.  A condominium unit will no longer be committed to Interval Ownership any time all unit weeks are owned by the same legal entity.

As to the above definitions, the use of the masculine pronoun shall include the neuter and feminine, and the use of the singular shall include the plural where the context so requires.

 

Unless the context otherwise requires, all other terms used in this Declaration shall be assumed to have the meaning attributed to said term by the Act, as of the date of this Declaration.

 
ARTICLE II

THE CHRISTIE VILLAGE CONDOMINIUM ASSOCIATION

OF UNIT OWNERS
 

                Section 1.            Responsibility for Administration:  The administration of the Christie Village Condominium and the maintenance, repairs, replacement and operation of the Common Elements as herein provided, and those acts required of the Association of Unit Owners by the Declaration shall be the responsibility of the Association.  Such administration shall be in strict accordance with the provisions of the Act, this Declaration and the By-Laws of the Association of Unit Owners.

 

                Section 2.            Agreements:  The Association shall be and hereby is authorized to enter into such agreements, including without limitation, a Management Agreement, as it may deem necessary or desirable for the administration and operation of the Condominium project.  Each Unit Owner, by acquiring or holding and interest in any Condominium Unit, thereby agrees to be bound by the terms and conditions of all such agreements entered into by the Board of Administrators on behalf of the Association.   A copy of all such agreements shall be made available at the office of the Association for review by each Unit Owner.

 

                Section 3.            Voting Rights:  For each Condominium Unit owned, or in the case of a Condominium Unit committed to Interval Ownership and known (and is hereafter referred to) as a “Voting Member”.  If a unit not committed to Interval Ownership is owned by more than one person the owners of said unit shall designate one of them as a Voting Member, or in the case of a Corporate Owner, an officer or employee thereof shall be the Voting Member.  In any case, the designation of the Voting Member shall be made as provided by and subject to the provisions and restrictions set forth in the By-Laws of the Association.  Any Interval Ownership owned by more than one person (or owned by a corporation) shall be treated in like manner.

 

                Each Interval Owner who shall be a Voting Member shall be entitled to the number of votes as is determined by multiplying the number of Unit Weeks contained within his Interval Ownership times the percentage expressed per Unit Week for that size unit in Exhibit II which is attached and made a part hereof.  The vote of each Voting Member shall not be divisible and such vote shall be that assigned to it at the time of the conveyance as expressed in exhibit II and in this Section.

 

                Each Interval Owner shall be entitled to cast his vote at any meeting of the Association regardless of whether such meeting occurs during his Unit Weeks or not.  He shall be entitled to attend such meeting or meetings in person to vote, or to cast his vote by proxy, as is provided in the By-Laws of the Association which is attached hereto.

 
ARTICLE III
PROPERTY RIGHTS
 

                Section 1.            Identification of Units:  The Christie Village Condominium consists essentially of all townhouses in the buildings and other improvements as set forth in Exhibit I attached hereto, and for the purpose of identification of all townhouses in the buildings located in said Christie Village Condominium are identified by number and are delineated on the Survey Exhibits, collectively identified as Exhibit I, hereto attached and made a part of this Declaration. No townhouse bears the same identifying number as does any other townhouse.  The aforesaid identifying number as to the townhouse is also the identifying number as to the Condominium Unit.  The said Exhibit I also contains a survey of the land, graphic description of the improvements showing where the townhouses and buildings are located, and a plot plan and, together with this Declaration, they are in sufficient detail to identify the location, dimensions and size of the common elements, and of each townhouse as evidenced by the Certificate of the Registered Architect made a part hereof by reference.  The legend and notes contained within the said Exhibit are incorporated herein and made a part hereof by reference.

 

                The aforesaid townhouses, buildings and improvements were constructed substantially in accordance with the Plans and Specifications and any modifications thereof are on file.

 

                Section 2.            Identification of Units Committed to Interval Ownership: wherever the term “unit ownership” or “unit owners” of units committed to Interval Ownership is used anywhere within the context of this Declaration or any amendment or Supplementary Declaration hereto, it shall be construed to include all owners of an Interval Ownership within any unit committed to Interval Ownership as a unit owner.  The respective interest of each Interval Owner of unit weeks within such unit committed to Interval Ownership with respect to each other owner shall be delineated in deeds conveying such Interval Ownership.

 
                Section 3.            Common Elements:

(a)    Each of the unit owners shall own an undivided interest in the common elements, and such undivided interest, stated as percentage of such ownership in the said common elements, shall be as set forth in Exhibit II, which is annexed to this Declaration and made a part hereof.

(b)   The fee title to each Condominium Unit shall include both the townhouse and the respective undivided interest in the common elements, said undivided interest in the common elements to be deemed to be conveyed or encumbered as part of each respective Condominium Unit.  Any attempt to separate the fee title elements to a townhouse from the undivided interest in the common elements shall be null and void.

 

Section 3.            Use of Common Elements:  The Association, its members, the Developer, its successors and assigns, and all parties who own an interest in and to the aforesaid common elements agree that they shall not have any right to bring any action for partition or division of the real property that constitutes said common elements and said parties do hereby waive said rights of partition and division of said common elements.  The initial Rules and Regulations, and all amendments thereof and revisions thereof, pertaining to use of the common elements shall be posted in conspicuous places upon the common elements.  The unit owners hereby covenant and agree to be bound by all of such Rules and Regulations and said parties shall obey same and be responsible for their being obeyed by the said unit owners, their family, guests, invitees, servants, and any other occupants.  Should a unit owner fail to pay an assessment for common expenses for the period of time specified herein whereby said assessment becomes delinquent, the Association may deny the unit owner the authorized use of the common elements until such time as all delinquent assessments are paid.  The Association shall further have the right in its sole discretion to suspend any unit owner the use of said common elements for a period not to exceed thirty (30) days for any infraction of the promulgated Rules and Regulations pertaining to said common elements.  Should the unit owner’s use of said common elements be suspended, there shall be no reduction in the assessments due and payable by said unit owner.  In the case of a condominium unit committed to Interval Ownership, all sanctions, as outlined above, for failure to pay an assessment shall be limited to each delinquent unit week owner and shall be of no force and effect against non-delinquent owners of unit weeks in such condominium unit committed to Interval Ownership.

 

                Any person who is a unit owner of a Condominium, together with spouse and other members of said owner’s immediate family who are in residence in the Condominium, as provided herein, may use the common elements.  Where a corporation is an owner, the use of said common elements shall be limited at any one time to such officer, director, employee or guest of said corporation who is in actual residence and such individual shall be deemed to be the Condominium owner for the purposes of this paragraph.  Where a party owns one Condominium unit and leases same, the lessee shall be entitled to the use of the facilities and said lessee’s rights thereto shall be the same as though said lessee were the unit owner and during the terms of said lease and the unit owner and his family shall not be entitled to the use of the common elements during such period.  Use of the common elements by Interval Owners in units committed to Interval Ownership, or any other person using the common elements through said owner, shall be limited to the period of ownership each year of said owner of unit weeks in such unit.

 

                Section 5.            Limited Common Elements:  Those areas which are or will be reserved for the use of certain unit owners or a certain unit owner, to the exclusion of other unit owners, are designated as “limited common elements” and will be shown and located on the surveys and/or descriptions annexed hereto as Exhibit I, or any aments thereto.   Any expense for the maintenance, repair or replacement relating to limited common elements shall be treated as and paid for as part of the common expenses of the Association unless otherwise specifically provided in this Declaration and Exhibits attached hereto.  Should said maintenance, repair or replacement be caused by the negligence or misuse by a unit owner, his family, guests, servants or invitees, he shall be responsible therefore, and the Management Firm, as long as the Management Agreement remains in effect, and thereafter, the Association, shall have the right to levy an assessment against such unit owner, which assessment shall have the same force and effect as all other special assessments.  Where said maintenance, repair or replacement is caused by the negligence or misuse by an Interval Owner in a unit committed to Interval Ownership, his family, guests, servants, or invitees, any such levy of an assessment shall be limited to the Unit Weeks owned by said Interval Owner, and shall be of no force and effect as to any other owner of unit weeks in said Unit.  The cost and expense of the maintenance, care and preservation, including painting and the like, where applicable, of patios, decks, balconies and exterior stairs shall be a common expense of the Association.   The applicable provisions in Article XIV as to patios, decks and balconies, as well as the stairs, are herby deemed to be repeated and realleged herein.

 

                Parking spaces are located within the common element parking area as shown and designated in Exhibit I.  However, all parking spaces are and shall be limited common elements.  The parking spaces are uncovered and each shall be numbered and each space so numbered shall be considered to be within the limited common elements; however, the assignment of parking spaces to one or more unit owners, as part of the limited common elements shall not presently be made and need not be recorded in the public records of Watauga County, North Carolina.  Each condominium unit shall, however, be entitled to the use of two parking spaces and such other additional parking spaces as is determined by the Management Firm as long as the Management Agreement remains in effect, and thereafter the Association.  Once the parking space or spaces (not to exceed two) have been assigned to a unit, said parking spaces shall become the limited common elements for that unit and may not be changed or taken away from said unit and the owner or owners thereof or his/their heirs, successors or assigns.

 

                In the case of a condominium unit committed to Interval Ownership, use of the parking spaces assigned to such unit by each owner of unit weeks within that unit, shall be limited to his period of ownership of unit weeks each year.

 

                Section  6.   Development Plan:  Grantor has constructed or caused to be constructed upon the property residential buildings containing a total of fourteen (14) units, as shown and numbered on the attached site plan which is part of Exhibit I and incorporated herein by reference.  Each of the buildings has been constructed substantially in accordance with the plans, plat plans and surveys shown in such Exhibit.

 

ARTICLE IV

ARCHITECTURAL CONTROL

 

                Section 1.            Approval Required for Changes:  to preserve the original architectural appearance of Christie Village Condominiums after purchase of the Condominium units from the Developer, its successors or assigns, no exterior construction of any nature whatsoever, except as specified in this Declaration or Exhibits hereto, shall be commenced or maintained upon any building, common area, or limited common area, and all such additions as are herein specified shall be architecturally compatible with existing structures.  No Unit Owner shall paint, decorate , or change the color of any exterior surface, gate, fence or roof; nor shall any Unit Owner change the design or color of the exterior lights; nor shall any Unit Owner install, erect or attach to any part of the exterior any sign of any kind whatsoever; nor shall any exterior addition or change, including, without limiting the generality of the foregoing, the erection or construction of any fence or wall be made; unless and until the plans and specifications  showing the nature, kind, shape, height, materials, color and location of the same shall have been submitted to in writing and approved as to harmony of exterior design, color and location in relation to the surrounding structures, by the Board of Administrators of the Association of Co-owners or by an architectural committee composed of three or more representatives appointed by the Board of Administrators.  Failure of the Board of Administrators, or is designated committee, to approve or disapprove such plans and specifications within sixty (60) days after their being submitted to it shall constitute approval.

 

ARTICLE V

MAINTENANCE OF UNITS COMMITTED TO INTERVAL OWNERSHIP

 

                Unit Weeks 14 to 20 inclusive, and Unit Weeks 41 to 47 inclusive, for Units committed to Interval Ownership shall be known as the maintenance period.  During this period the Management Firm, as long as the Management Agreement remains in effect, and thereafter, the Association of Co-Owners, shall have the right to enter his premises, and have exclusive possession thereof, for a seven-day period, once every six years for the purpose of performing maintenance and repair work on the unit.  The Management Firm, as long as the Management Agreement remains in effect, and thereafter, the Association of Co-Owners, shall have the right to choose the period during which such maintenance will be performed, provided the unit owner shall be given  at least forty-five (45) days prior notice thereof.  In the event any one person, or other legal entity, becomes holder of record title to all unit weeks in any one unit, that person, or other legal entity, may cause the Management Firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners, to relinquish said right of entry so reserved for maintenance to it by notifying the Association of Co-Owners, in writing, of its desire that said unit cease being a unit committed to Interval Ownership.  The Association shall thereafter execute the necessary papers evidencing relinquishment of said right of entry no later than sixty (60) days after such notice.

 

ARTICLE VI

MAINTENANCE FEE FOR UNITS COMMITTED TO INTERVAL OWNERSHIP

 

                For all units committed to Interval Ownership, each unit owner thereof shall pay, in addition to his prorata share of the common expenses, a prorata share (determined by number of Unit Weeks contained within the Interval Ownership) of all costs incurred by the Management Firm and Association of Co-Owners in the maintenance, upkeep, and operation of units and committed to Interval Ownership.  Such proportionate share (herein called the maintenance fee) shall include (but not be limited to) funds necessary for repair and upkeep of all units so committed resulting from normal wear and tear (such as, but not limited to, repainting interior walls), funds necessary for lease, repair and replacement costs of furniture, fixtures, appliances, carpeting and utensils, and reserves necessary therefor in all committed units; casualty, liability, hazard and contents insurance on all such committed units; utilities for all such committed units; personal property, real estate and other applicable taxes on such committed units; and any other expenses incurred in the normal operation and maintenance of all such units or any one of them which cannot be attributed to negligence, damage or costs incurred by an owner of a particular Unit Week and identified as cost over and above normal wear and tear as determined by the Management Firm.  Such maintenance fee is not a common expense.  However, the Association of Co-Owners and the Management Firm, as long as the Management Agreement is in effect, shall have a lien upon the Interval Ownership of any Interval Owner failing to pay the maintenance fee for his Unit Weeks therein, but such shall not be a lien upon and shall not affect the interests of other Interval Owner of that unit.  Such lien shall be immediately junior to the lien described in Article XI and may be enforced in like manner.  The maintenance fee for each Interval Owner shall be determined by multiplying his percentage of the common expenses (as set forth in Exhibit II) times the total maintenance fee for all units committed to Interval Ownership and shall be assessed at the same time and in the same manner as are common expenses.

 

                The Developer shall not be required to pay any maintenance or management fees for any Units owned by Developer before December 31, 1978, unless Developer so elects.

 

ARTICLE VII

COMMON EXPENSES AND COMMON SURPLUS

 

                The common expenses of the Christie Village Condominium, including obligation of each Unit Owner under the Management Agreement attached to this Declaration, shall be shared by the unit owners, as specified and set forth in Exhibit II.  The foregoing ratio of sharing common expenses and assessments shall remain, regardless of the purchase price of the Condominium, its location, or the building square footage included in each Condominium Unit.

 

                Any common surplus of the Association of Co-Owners shall be owned by each of the Unit Owners in the same proportion as their percentage ownership interest in the common elements – any common surplus being the excess of all receipts of the Association of Co-Owners, including but not limited to, assessments, rents, profits and revenues on account of the common elements of the Association, over the amount of the common expenses of the Association.

 
ARTICLE VIII

METHOD OF AMENDMENT OF DECLARATION

 

                This Declaration may be amended at any regular or special meeting of the Co-Owners, called and convened in accordance with the By-Laws, be the affirmative vote of Members casting not less than two-thirds  (2/3) of the total of members vote cast at such meeting in person or by proxy.

 

                All amendments shall be recorded and certified as required by the Act.  No amendment shall change any townhouse, any Condominium unit, nor a Condominium unit’s proportionate share of the common expenses or common surplus, nor the voting rights appurtenant to any unit, unless the record owner(s) thereof, and all record owners of mortgages or other voluntarily placed liens thereon, shall join in the execution of the Amendment.  No Amendment shall be passed which shall impair or prejudice the rights and priorities of any mortgagee or change the provisions of this Declaration with respect to Institutional Mortgagees without the written approval of all Institutional Mortgagees of record, nor shall the provisions of Article XIII of this Declaration be changed without the written approval of all affected Institutional Mortgagees of record.

 

                No amendment shall change the rights and privileges of the Developer and/or the Management Firm without the applicable party’s written approval.

 

                Notwithstanding the foregoing paragraphs of this Article VIII, the Developer reserves the right change the interior design and arrangement of all units and to alter the boundaries between units, as long as the Developer owns the units so altered; however, no such change shall increase the number of units nor alter the boundaries of the common elements, except the party wall between any units, without amendment of this Declaration in the manner hereinabove set forth.  If the Developer shall make any changes in units, as provided in this paragraph, such changes shall be reflected by an amendment of this Declaration with a Survey attached, reflecting such authorized alteration of units and said amendments need only be executed and acknowledged by the Developer and any holders of Institutional Mortgages encumbering the said altered units.  The survey shall be certified in the manner required by the Act.

 
ARTICLE IX
BY-LAWS
 

                The operation of the  Christie Village Condominium shall be governed by the By-Laws of the Association of Co-Owners which are set forth in a document which is annexed to this Declaration, marked Exhibit IV and made a part hereof.

 

                No modification of or amendment to the By-Laws of said Association of Co-Owners shall be valid unless set forth in or annexed to a duly recorded amendment to this Declaration.  The By-Laws may be amended in the manner provided for therein, but no amendment to said By-Laws shall be adopted which would affect or impair the validity or priority of any mortgage covering any Condominium Unit, or which would change the provision of the By-Laws with respect to Institutional mortgages without the written approval of all Institutional Mortgagees of record.  No amendment shall change the rights and privileges of the Developer and/or the Management Firm without the applicable party’s written approval.  Any amendment to the By-Laws, as provided herein, shall be executed by the parties and recorded in the Public Records of Watauga County, North Carolina.

 
ARTICLE X

THE OPERATING ENTITY

 

                The operating entity of Christie Village Condominium shall be the Association of Co-Owners which is responsible for the operations specified in Article II hereinabove, said Association of Co-Owners being organized and existing pursuant to the Act.  The said Association of Co-Owners shall have all of the powers and duties set forth in the Act, as well as all of the powers and duties granted to or imposed upon it by this Declaration, the By-Laws of the Association of Co-Owners and its Articles of Association, a copy of said Articles of Association being annexed hereto marked Exhibit V.

                Every unit owner, whether he has acquired his ownership by purchase, by gift, conveyance or transfer by operation of law, or otherwise, shall be bound by the By-Laws and Rules of the said Association of Co-Owners, the provisions of this Declaration, the Management Agreement, all conditions, covenants and restrictions of record.

 
ARTICLE XI
ASSESSMENTS
 

                The Association of Co-Owners, through its Board of Administrators, has delegated to the Management Firm the power of the Association of Co-Owners to fix and to provide for the collection of common expenses of Christie Village Condominium, and such other sums as are specifically provided for in this Declaration and the By-Laws, and Exhibits attached hereto, for such period of time as provided in the Management Agreement, and thereafter the Association of Co-Owners shall have such power.  The association of Co-Owners, through its Board of Administrators, shall have the power to fix and determine from time to time the sum or sums necessary and adequate to provide for the common expenses of Christie Village Condominium and such other assessments as are specifically provided for in this Declaration and Exhibits attached hereto, where said power has not been or is no longer delegated to the Management Firm.  The procedure for the determination of all such assessments shall be as set forth in the By-Laws of the Association of Co-Owners and this Declaration and the Exhibits attached hereto.

 

                Assessments and installments that are unpaid for over ten (10) days after due date shall bear interest at the rate of eight percent (%) per annum from due date until paid, and at the sole  discretion of the Management Firm and/or the Board of Administrators, a late charge of Five ($5.00) Dollars shall also be due and payable.  Regular assessments shall be due and payable monthly on the first of each month and monthly bills for the same need not be mailed or delivered to Unit Owners.  Maintenance fees for units committed to Interval Ownership shall be due and payable monthly on the first of each month.  At its sole discretion, the Management Firm may elect to bill Unit Owner on a semi-annual basis.

 

                The Association of Co-Owners and the Management Firm, as long as the Management Agreement remains in effect, shall have a lien on each Condominium unit for unpaid assessments, together with interest thereon, and against the unit owner(s) thereof, together with a lien on all tangible personal property located within said unit.  In the case of an Interval Owner, such lien shall be enforced only upon that defaulting unit owner’s Interval Ownership and the “Unit Weeks” thereof (as defined hereinabove) and shall not be enforced, although it may be a lien upon, the interests of the other owners of Interval Ownerships of that Condominium.   If, for any reason, any such lien should be enforced against the entire condominium unit so committed and all Interval Owners thereof, any Interval Owner(s) of the subject unit paying the lien shall acquire a lien and the same rights and means of enforcement herein granted the Association of Co-Owners and /or the Management Firm upon the defaulting Interval Owner, his Interval Ownership and the Unit Weeks thereof, in the amount of such payment made, and of the same priority as the lien paid.  In any case, such lien against any unit owner upon the aforesaid property shall be subordinate to prior bona fide liens of record.  Reasonable attorney’s fees incurred by the Association of Co-Owners and Management Firm incident to the collection of such assessments or the enforcement of such liens, together with all sums advanced and paid by the Association of Co-Owners or the Management Firm for taxes and payments on account of superior mortgage liens or encumbrances which may be required to be advanced by the Association of Co-Owners or the Management Firm, in order to preserve and protect its lien, shall be payable by the Unit Owner and secured by such lien.  The Management Firm, for as long as the Management Agreement remains in effect, and thereafter, the Board of Administrators, may take such action as it deems necessary to collect assessments, by a personal action or by enforcing and foreclosing said lien, and may settle and compromise the same if deemed  in its best interests.  Said lien shall be effective as and in the manner provided for by the Act, and shall have the priorities established by said Act.  The Management Firm, as long as the Management Agreement remains in effect, and the Association of Co-Owners, shall be entitled to bid at any sale held pursuant to a suit to foreclose an assessment lien, and to apply as a cash credit against its bid, all sums due, as provided herein, covered by the lien enforced.  In case of such foreclosure, the unit owner shall be required to pay a reasonable rental for the Condominium unit for the period of time said unit is occupied by the unit owner or anyone by, through or under said unit owner, and Plaintiff in such foreclosure shall be entitled to the appointment of a Receiver to collect same from the Unit Owner and/or occupant.

 

                Where the mortgagee of an Institutional First Mortgage of record, or other purchaser of a Condominium unit or an Interval Ownership therein, obtains title to a Condominium unit or Interval Ownership therein as a result of foreclosure of the Institutional First Mortgage, such acquirer of title, its successors and assigns, shall not be liable for the shares of common expenses or assessments by the Management Firm or the Association of Co-Owners pertaining to such Condominium unit (or Interval Ownership therein) or chargeable to the former unit owner, which became due prior to acquisition of title as a result of the foreclosure.  Such unpaid share of common expenses or assessment shall be deemed to be common expenses collectible from all of the unit owners, including such acquirer, his successor and assigns.

 

                Any person who acquires an interest in a unit, except through foreclosure by an Institutional First Mortgagee of record, shall not be entitled to occupancy of the unit or enjoyment of the common elements until such time as all unpaid assessments due and owing by the former owners have been paid.  The Management Firm as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners, acting through its Board of Administrators, shall have the right to assign its claim and lien rights for the recovery of any unpaid assessments to the Developer, or to any unit owner or group of unit owners, or to any third party.

 
ARTICLE XII

INSURANCE PROVISIONS

 

A.      Liability Insurance:

 

The Management Firm, as long as the Management Agreement remains in effect and thereafter, the Board of Administrators of the Association of Co-Owners, shall obtain Public Liability and Property Damage Insurance covering all of the common elements of the Condominium project and insuring the association of Co-Owners, the Unit Owners and the Management Firm as long as the Management Agreement remains in effect, as its and their interests appear, in such amounts and providing such coverage as the  Management Firm, as long as the Management Agreement remains in effect and, thereafter, the Board of Administrators of the Association of Co-Owners, may determine from time to time.  Premiums for the payment of such insurance shall be paid by the Management Firm, as long as the Management /agreement remains in effect and, thereafter, by the Board of Administrators of the Association of Co-Owners, and such premiums shall be charged as a common expense.

 

B.       Fire  and Casualty Insurance:

 

The Management Firm, as long as the Management Agreement remains in effect and, thereafter, the Association of Co-Owners, shall obtain Fire and Extended Coverage Insurance and Vandalism and Malicious Mischief Insurance, insuring all of the insurable improvements within Christie Village Condominium including personal property owned by the Association of Co-Owners, or included in the common elements, in and for the interest of the Association of Co-Owners, all Unit Owners and their mortgagees, as their interest may appear, from a company acceptable to the standards set by the Management Firm, as long as the Management Agreement remains in effect and, thereafter, by the Board of Administrators of the Association of Co-Owners, in an amount equal to the maximum insurable replacement value thereof, as determined annually by the Management Firm, as long as the Management Agreement is in effect, and, thereafter, by the Board of Administrators of the Association of Co-Owners.  The premium shall be paid by the Management Firm, as long as the Management Agreement remains in effect and, thereafter, by the Association of Co-Owners, and shall be charged as a common expense.

 

Institutional First Mortgagees owning and holding mortgages encumbering Condominium units having an unpaid dollar indebtedness of $100,000.00 or more shall have the right to approve the policies and the company or companies who are the insurers under the insurance placed by the Management Firm, and thereafter, by the Association of Co-Owners as herein provided, and the amount thereof.  In the absence of the action of said Mortgagees,  then the Management Firm, as long as the Management Agreement remains in effect, and thereafter, the Association of Co-Owners, shall have the right of approval without qualification.

 

C.       Insurance on Units Committed to Interval Ownership:

 

The Management Firm, so long as the Management Agreement remains in effect and thereafter, the Board of Administrators of the Association of Co-Owners, shall obtain Casualty and Liability Insurance with respect to the contents of all Units committed to Interval Ownership, except to the extent that such insurance is provided by a furniture leasing company or similar source, in amounts considered adequate by the Management Firm, so long as the Management Agreement is in effect and thereafter by the Board of Administrators, the premiums for which shall be part of the maintenance fee for said Units.

 

D.       Other Insurance:  The Management Firm, so long as the Management Agreement remains in effect and thereafter the Board of Administrators, shall obtain such Workmen’s Compensation Insurance as may be required by law, and such other insurance as it determines from time to time to be desirable.

 

E.        Sources of Insurance and Waiver of Subrogation:  Subject only to any right of a mortgagee to approve or disapprove of a source of insurance, as hereinabove provided, insurance companies authorized to do business in the State of North Carolina shall be presumed to be good and responsible companies, and neither the Management Firm nor the Board of Administrators of the Association shall be responsible for the quality or financial responsibility of the companies from whom insurance is obtained, so long as they are licensed to do business in said State.  The Management Firm, so long as the Management Agreement is in effect and thereafter the Board of Administrators of the Association, shall be authorized, although not required, to endeavor to obtain policies, to the extent obtainable, which provide that the insurer waives its right of subrogation as to any claims against Unit Owners, the Association of Co-Owners, the Management Firm, and their respective servants, agents and guests.

 

F.       Institutional Mortgagee’s Right to Advance Premiums:  Should the party responsible hereunder for the payment of insurance premiums fail to pay any of said premiums when due, any institutional mortgagee holding a mortgage on a condominium unit or unit weeks shall have the right, at its option, to obtain insurance policies and/or pay the premiums thereon, in which case said mortgagee(s) shall be subrogated to the assessment and lien rights of the Association of Co-Owners for the payment of such premiums as a common expense.

 

G.     Authority to compromise Claims:  The Management Firm, so long as the Management Agreement remains in effect and thereafter the Board of Administrators of the Association of Co-Owners, is hereby irrevocably appointed agent for each co-owner for the purpose of compromising and settling claims arising under any insurance policies relating to the Condominium, including the right to litigate any such claim when considered necessary by the Management Firm or the Board of Administrators, as the case may be, and to execute and deliver Releases therefor.

 

H.      Casualty Loss or Damage:  In the event of casualty loss of or damage to any of the Condominium property, the Management Firm, so long as the Management Agreement remains in effect and thereafter the Board of
Administrators of the Association of Co-Owners, shall make claim on the policy or policies covering said loss, and shall apply the proceeds received toward the repair, replacement and/or reconstruction of the lost or damaged property.  It being hereby provided, as a covenant running with the Condominium property, that no mortgagee shall be entitled to require the application of insurance proceeds toward the payment of its loan, any provisions in any policies to the contrary being hereby waived by said Mortgage Lenders; provided, however, that the Management Firm or Board of Administrators, as the case may be, shall be entitled to  reimbursement for all of its out-of-pocket expenses from said insurance proceeds and assessments against co-owners as a result of said loss or damage, as hereinafter provided.  Should the Management firm, or the Board of Administrators in the event the Management Agreement is not then in effect, determine at any time that the insurance proceeds forthcoming are or will be insufficient to pay its said expenses and the costs of said repair, replacement and/or reconstruction of the lost or damaged property, it shall thereupon levy a special assessment against the Co-Owners, in proportion to their respective undivided shares in the common elements, for the additional sums considered by it to be necessary, for which the lien provided for common expense assessments shall be applicable, and shall be entitled to delay correction of the loss  or damage until said special assessments have been paid to the extent which in its discretion justifies beginning or resuming said repair, reconstruction or replacement.  No owner shall be entitled to compensation for loss of occupancy of his unit pending completion of said work or replacement.  The Management Firm, so long as the Management Agreement remains in effect and thereafter the Board of Administrators of the Association, is hereby irrevocably appointed the agent of each Co-owner to negotiate and contract for the repair, reconstruction and/or replacement of lost or damaged property, including the right to require any contractor involved to furnish a performance and payment bond should said agent consider it desirable.  Any repair and restoration shall be substantially in accordance with the buildings and other improvements as they existed prior to the loss or damage involved, or otherwise as approved by both the Management Firm (if the Management Agreement is then in effect) and the Board of Administrators of the Association of Co-Owners, which approval each hereby agrees shall not be unreasonably withheld.  If any material or substantial change in a building is contemplated, the approval of all affected institutional first mortgagees shall also be obtained.

 

I.         Surplus Proceeds:  Should there be surplus insurance proceeds remaining after the payment of expenses and costs of repair, reconstruction and/or replacement, as hereinabove provided, such surplus proceeds shall be distributed among the co-owners, in accordance with their respective shares in the common elements.

 
ARTICLE XIII
USE AND OCCUPANCY

                The owner of a unit shall occupy and use his unit as a single family private dwelling for himself and the members of his family and his social guests, and for no other purpose.  Notwithstanding the foregoing, nothing in this Declaration shall be construed to restrict the Developer, or any successor in interest to the Developer, from selling and/or conveying any unit under a plan of Interval Ownership, or any person, group of persons, corporation, partnership, or other entity, from selling, reconveying, or transferring same at any time under said plan of Interval Ownership.

                The unit owner shall not permit or suffer anything to be done or kept in or about his townhouse which will increase the rate of insurance of the property, or which will obstruct or interfere with the rights of other unit owners, or annoy them by creating unreasonable noises, or otherwise, nor shall the unit owners commit or permit any nuisance or illegal acts in and about the property.

 

                No animals or pets of any kind shall be kept in any townhouse or on any property of Christie Village Condominium except as and if permitted by the Rules and Regulations adopted by the Management Firm for the keeping of said pets as long as the Management Agreement remains in effect, and thereafter the Board of Administrators of the Association of Co-Owners; provided, that they may not be kept or maintained for any commercial purposes and further provided that such house pets causing or creating a nuisance or unreasonable disturbance shall be permanently removed from the property subject to these restrictions upon one (1) day’s written notice from the Management Firm or the Board of Administrators of the Association of Co-Owners.  

 

                The unit owners shall not cause anything to be affixed or attached to, hung, displayed, or placed on the exterior walls, doors or windows of the townhouses or the common elements nor shall they cause any type of ground coverage to be installed nor shall they grow any type of plant, shrubbery flower, vine or grass outside their townhouse, nor shall they cause awnings or storm shutters, screens, enclosures and the like to be affixed or attached to any townhouses, buildings, or common elements; nor shall they place any furniture or equipment outside their townhouse except with the prior written consent of the Management Firm, as long as the Management Agreement remains in effect, and thereafter of the Board of Administrators of the Association of Co-Owners, and further, when approved, subject to the Rules and Regulations adopted by the Management Firm, as long as the Management Agreement remains in effect, and thereafter by the Board of Administrators of the Association of Co-Owners.  The unit owners may not screen in or enclose any exterior patio which abuts his townhouse, where applicable, nor may the unit owners screen in or enclose any exterior deck and/or balcony which abuts his townhouse where applicable, with any type of material without the prior written consent of the Management Firm, and thereafter, the Association of Co-Owners; however, the Developer shall have the right to screen in or enclose the foregoing as it determines in its sole discretion until December 31, 1978.

 

                No person shall use the common elements, or any part thereof, or a townhouse, or any part thereof, in any manner contrary to or not in accordance with such Rules and Regulations pertaining thereto, as from time to time promulgated by the Management Firm, as long as the Management Agreement remains in effect, and thereafter by the Association of Co-Owners.

 
ARTICLE XIV

MAINTENANCE AND ALTERATIONS

 

A.      The Board of Administrators of the Association of Co-Owners may enter into a Contract with any firm, person, or corporation, or may join with other Condominium Projects and entities in contracting for the maintenance  and repair of Christie Village Condominium and other type properties, and may contract  for or may join with other Associations of Co-Owners, in contracting for the management of its property(s) and other type properties, and may delegate to the Contractor or Manager all powers and duties of the Associations of Co-Owners, except such as are specifically required by this Declaration, or by the By-Laws, to have approval of the Board of Administrators or the membership of the Association of Co-Owners.  The contractor or Manager may be authorized to determine the budget, make assessments for common expenses and collect assessments, as provided by this declaration, By-Laws, and other Exhibits to the Declaration.  The Association of Co-Owners, through its Board of Administrators, have entered into a Management Agreement, attached hereto as Exhibit III, which  encompasses the provisions of this paragraph.

B.      There shall be no alterations or additions to the common elements of Christie Village Condominium where cost is in excess of $5,000.00, except as authorized by the Management Firm, as long as the Management Agreement remains in effect, and the Board of Administrators and approved by not less than fifty-one (51%) percent of the total vote of the unit owners, provided the aforesaid alterations or additions do not prejudice the rights of any unit owner, unless his consent has been obtained.  The cost of the foregoing shall be assessed as common expenses.  Where alteration or additions to the common elements are exclusively or substantially for the benefit of unit owner(s) requesting same, then the cost of such alterations or additions shall be assessed against and collected solely from the unit owner(s) exclusively  or substantially benefiting , and the assessment shall be levied in such proportion as may be determined as fair and equitable by the Management Firm, as long as the Management Agreement remains in effect, and thereafter, by the Board of Administrators of the Association of Co-Owners.  Where such alterations or additions exclusively or substantially benefit unit owners requesting same, said alterations or additions shall only be made when authorized by the Management Firm, as long as the Management Agreement remains in effect, and the Board of Administrators, and approved by not less than seventy-five (75%) percent of the total vote of the unit owners exclusively or substantially exclusively benefiting therefrom.  In the case of a condominium unit committed to Interval Ownership, approval by Interval Owners of at least forty (40) unit weeks in said unit shall constitute approval “of the unit owners” of that unit for the purpose outlined above.

 

Where the approval of unit owners for alterations to the common elements is required in this Declaration and Exhibits attached hereto, the approval of Institutional First Mortgagees whose mortgages encumber Condominium units representing not less than seventy (70%) percent of the total unpaid dollar indebtedness as to principal on said units at said time shall also be required.

 

C.      Each unit owner of a unit not committed to Interval Ownership agrees as follows:

(1)    To maintain in good condition and repair his townhouse and all interior surfaces within his townhouse and the entire interior of his townhouse, and to maintain and repair the fixtures and equipment therein, which includes but is not limited to the following, where applicable: air conditioning and heating units including condensers and all appurtenances thereto wherever situated, hot water heater, refrigerator, range and oven, and all other appliances, drains, plumbing fixtures and connections, sinks, all plumbing and water lines within the townhouse, electric panels, electric wiring and electric outlets and fixtures within the townhouse; interior doors, windows, screening and glass; all exterior doors, (except the painting of the exterior doors shall be a common expense of the Association of Co-Owners) and pay for his electricity and telephone, water, sewerage, and waste fees, if applicable, shall be part of the common expenses if billed to the Association of Co-Owners but if individual bills are sent to each unit by the party furnishing said service, each unit owner shall pay said bill for his unit individually.  Where a townhouse is carpeted, the costs of maintaining and replacing the carpeting shall be borne by the owner.  Each unit owner shall maintain, care for and preserve portions of the limited common elements, as provided in Article III, Section 5 of this Declaration  Where there is a light fixture or fixtures attached to the exterior wall or walls of a townhouse, the unit owner thereof shall replace same by the same color and bulb wattage at his cost and expense unless the Management Firm, and thereafter, the Association of Co-Owners, decide to replace same as a common expense of Christie Village Condominium.  The aforesaid lights may be wired to the electric meter for the townhouse which is responsible for replacing said light bulbs and, in such case, the electric cost for same shall be borne by said unit owners.

 

(2)    Not to make or cause to be made any structural, addition or alteration to his townhouse or to the common element(s) or any part(s) thereof.

 

Alteration within a townhouse may be made with the prior written consent of the Management Firm, so long as the Management Agreement remains in effect, and thereafter of the Association of Co-Owners, and any First Mortgagee holding a mortgage on that unit.

               

(3)    To make no alterations, decoration, repair, replacement, or change of the common elements, or any part thereof, or to any outside or exterior portion of the buildings whether within a townhouse or part of the limited common elements without the prior written consent of the Management Firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners.  Unit owners may use such contractors and sub-contractor(s) as are approved by the Management Firm, and thereafter the Association of Co-Owners, and said parties shall comply with all Rules and Regulations adopted by the Management Firm, and thereafter the Board of Administrators.  The unit owner shall be liable for all damages to another unit or the common elements of the property caused by the unit owner’s contractor, subcontractor, or employee whether said damages be caused by negligence, accident or otherwise.

 

D.      Each interval owner of Unit Weeks in a unit committed to Interval Ownership agrees:

 

(1)    To pay his proportionate share of the costs of the maintenance and repair of all interior and exterior components of the townhouse of his unit, the cost of maintenance, lease, repair and replacement of all appliances, furniture, carpeting, fixtures, equipment, utensils, and other personal property within said townhouse, and other such costs of repair, maintenance, upkeep and operation of the townhouse as is necessary to the continued enjoyment of said unit by all said owners of Unit Weeks therein.

(2)    Not to make, cause, or allow to be made, any repairs, modifications, alterations or replacements to the common elements or the outside or exterior portion of the buildings whether within a townhouse or part of the common elements, exterior or interior of his townhouse, or of the furnishings, appliances, personal property, or décor thereof, without the prior written consent of the Management Firm, the Association of Co-Owners, and all other owners of Unit Weeks in the affected unit.

(3)    Expenses of repairs or replacements to the townhouse of a unit so committed or its components, furnishings, carpeting, appliances, or other property, real, personal or mixed, occasioned by the specific use or abuse of any interval owner of unit weeks in any unit, or any invitee, licensee or tenant or said owner, shall be borne in their entirety by said interval owner.

(4)    The Management Firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners, shall determine the interior color scheme, décor and furnishings, of each townhouse of a unit so committed, as well as the proper time for redecorating and replacements thereof.  The Management Firm shall have the sole discretion and power to judge normal wear and tear and to set a specific cost therefore to be assessed to the Unit Week(s) against the interval owner perpetrating such abuse or damage.

 

E.       All unit owners, including Interval Owners of Unit Weeks in units committed to interval ownership, agree as follows:

(1)    To allow the Management Firm, the Board of Directors, or the agents or employees of the Management Firm, or the Association of Co-Owners, to enter into any townhouse for the purposes of maintenance, inspection, repair, replacement of the improvements within the townhouses and/or common elements, or to determine, in case of emergency, circumstances threatening the townhouses and/or common elements, or to determine compliance with the provisions of this Declaration and the By-Laws of the Association of Co-Owners.

(2)    To show no signs, advertisements or notices of any kind on the common elements, or townhouses or buildings containing the same, and to erect no exterior antenna or aerials, except as consented to by the Management Firm, as long as the Management Agreement remains in effect and thereafter, by the Board of Administrators of the Association of Co-Owners.

 

F.       In the event a unit owner fails to maintain his unit and the parts thereof, as required herein, or makes an alterations or additions without the required written consent or otherwise violates the provisions hereof, The Association of Co-Owners, or the Management Firm on behalf of the Co-Owners and on its own behalf, shall have the right to proceed in a Court of Equity for an injunction to seek compliance with the provisions hereof.  In lieu thereof and in addition thereto, the Management Firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners, shall have the right to levy an assessment against such unit owner and the unit (or his Interval Ownership therein) for such necessary sums to remove any unauthorized addition or alteration and to restore the property to good condition and repair.  Where said failure, alteration, addition, or other violation is attributable to an interval owner of unit weeks in a unit committed to Interval Ownership, any such levy of an assessment shall be of no force and effect as to any other interval owner of unit weeks in said unit.

 

Said assessment shall have the same force and effect as all other special assessments.  The Management Firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners, shall have the right to have its employees or agents, or any subcontractors appointed by it, enter a townhouse at all reasonable times to do such work as is deemed necessary by the Management Firm, as long as the Management Agreement remains in effect, and thereafter by the Association of Co-Owners, to enforce compliance with the provisions hereof.

 

G.     The Management Firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners, shall determine the exterior color scheme of the buildings and all exteriors, and interior color schemes of the common elements, and shall be responsible for the maintenance thereof, and no unit owner shall paint an exterior wall, door, window, or any exterior surface, or replace anything thereon or affixed thereto, without the written consent of the Management firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners.

 

H.      The Association of Co-Owners shall be responsible for the maintenance, repair, and replacement of common elements, and all portions of the property not required to be maintained, repaired, and/or replaced by the unit owner(s); however, said responsibility has been undertaken by the Management Firm, as long as the Management Agreement remain in effect, as provided in the Management Agreement attached hereto as Exhibit III.  Notwithstanding the unit owner’s duty of maintenance, repair, replacement, and other responsibilities as to his unit as is provided in this Declaration and Exhibits attached hereto, the Management Firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners, may enter into an agreement with such firms or companies as it may determine from time to time, to provide certain services and/or  maintenances for and on behalf of the unit owners whereby maintenance and service are provided on a regularly scheduled basis, such as for air conditioning maintenance and service, exterminating services and other types of maintenance and services as said Management Firm, and thereafter the Association of Co-Owners, deems advisable and for such period of time and on such basis as it determines.  Said agreement shall be on the behalf of all unit owners and the monthly assessment due from each unit owner for common expenses shall be increased by such sum as the Management Firm, and thereafter the Association of Co-Owners, deems fair and equitable under the circumstances in relation to the monthly charge for said maintenance or service.  Each unit owner shall be deemed a party to said agreement with the same force and effect as though said unit owner had executed said agreement and it is understood and agreed that the Management Firm, and thereafter the Association of  Co-Owners, shall execute and agreements as the agent for the unit owners.  The aforesaid assessment shall be deemed to be an assessment under the provisions of Article XI of this Declaration.

 
ARTICLE XV
TERMINATION
 

                Christie Village Condominium may be voluntarily terminated at any time if the proposed voluntary termination is submitted to a meeting of the membership of the Association of Co-Owners pursuant to notice and is approved in writing within sixty (60) days of said meeting by all of the total vote of the unit owners composing the Association of Co-Owners.  In addition, before the condominium may be terminated, all creditors of unit owner(s) holding liens of record on any condominium unit or units (including, but not limited to, any institutional mortgagee, other mortgagee or lien holder of record) must agree in writing to accept as security the undivided portion of the property owned by the debtor(s) of each.  If such conditions are fulfilled, the condominium shall forthwith be terminated and all unit owners shall become tenants in common in the real property and improvements constituting the townhouses and common elements owned by the unit owners.  The ownership of each unit owner upon such termination, shall be as tenants in common in the same percentage as determined in Exhibit II hereof.

 
ARTICLE XVI

MANAGEMENT AGREEMENT

 

(Note: The Management Agreement has been terminated and these provisions no longer apply.  As a result, Exhibit III has not been transcribed.)

 

A.      The Association of Co-Owners has entered into a Management Agreement, a copy of which is annexed hereto as Exhibit III and made a part hereof.

 

The Association of Co=Owners has delegated to the Management Firm the power of the Association of Co-Owners, through its Board of Administrators to determine the budget, make assessments for common expenses and maintenance fees and collect all assessments.  Each unit owner, his heirs, successors and assigns, shall be bound by said Management Agreement for the purposes therein expressed, including but not limited to:

(1)    Adopting, ratifying, confirming and consenting to the execution of said Management Agreement by the Association of Co-Owners.

(2)    Covenanting and promising to perform each and every of the covenants, promises and undertakings to be performed by unit owners in the cases provided therefore in said Management Agreement.

(3)    Ratifying, confirming and approving each and every provision of the Management Agreement, and acknowledging that all the terms and provisions thereare are reasonable.

(4)    Agreeing that persons acting as Administrators or officers of the Association of Co-Owners, in the entering into such an Agreement have not breached any of their duties or obligations to the Association of Co-Owners.

(5)    It is specifically recognized that some or all of the persons comprising the original Board of Administrators of the Association of Co-Owners, are or may be shareholders, officers and/or directors of the Management Firm, and that such circumstances shall not and cannot be construed or considered as a breach of their duties and obligations to the Association of Co-Owners, nor as possible grounds to invalidate such Management Agreement, in whole or in part.

(6)    The acts of the Board of administrators and Officers of the Association of Co-Owners in entering into the Management Agreement be, and the same are, hereby ratified, approved, confirmed and adopted.

The Association of Co-Owners, and unit owners further agree that the monthly assessments to be paid by unit owners for common expenses may also include such special assessments incurred by a unit owner for charges for guests and invitees of said unit owner, or temporary residents of said unit as to the use of facilities, and for any special service and charges.

B.      The Association of Co-Owners shall be responsible for the operation of Christie Village Condominium, but may assign its rights as provided herein under this Article XVI to such party as it determines and the Association of Co-Owners, by virtue of its execution of this Declaration and the management Agreement attached to this Declaration as Exhibit III, shall be deemed to have assigned its rights under this Article XVI to the Management Firm under said Management Agreement.

 
ARTICLE XVII

MISCELLANEOUS PROVISIONS

 

A.      The owners of the respective Condominium Units shall not be deemed to own the undecorated and/or unfurnished surfaces of the perimeter walls, floors, and ceilings surrounding their respective townhouse nor shall the unit owner be deemed to own pipes, wires, conduits, or other public utility lines running through said respective townhouses which are utilized for or serve more than one Condominium Unit, which items are, by these presents, hereby made a part of the common elements.  Said unit owner, however, shall be deemed to own the walls, floors and partitions which are fully contained in said unit owner’s townhouse, and shall also be deemed to own the inner decorated and/or furnished surfaces of the perimeter walls, floors, and ceilings, including plaster, pain, wall paper, etc., however all load bearing walls and, where applicable, the floors between the A and B. units located within a townhouse, are a part of the common elements to the unfinished surfaces of said walls and floors.

B.      The owners of the respective Condominium units agree that if any portion of a townhouse encroaches upon any portion of the common elements or another townhouse or if any part of the common elements encroaches upon any townhouse, a valid easement of the encroachment and maintenance of the same, so long as it stands, shall and does exist.  In the event a Condominium  building or buildings are partially or totally destroyed and then rebuilt, the owners of the Condominium units agree that encroachments on parts of the common elements or townhouses, as aforedescribed, due to construction, shall be permitted, and that a valid easement for said encroachments and the maintenance thereof shall exist.

C.      No owner of a Condominium unit may exempt himself from liability for his contribution toward the common expenses or, n the case of an owner of unit weeks in a condominium unit committed to Interval ownership, the maintenance fee, by waver of the use and enjoyment of any of the common elements or the recreation facilities thereof, or by the abandonment of his Condominium Unit, or Interval Ownership therein.

D.      In the event the Tax Assessor refuses, or is otherwise unable to assess ad valorem taxes on a unit committed to Interval Ownership among the various owners of Unit Weeks therein, or it is determined by the Management Firm, as long as the Management Agreement remains in effect, or thereafter, the Association of Co-Owners, that it is in the best interests of said owners to do so, the Association of Co-Owners shall pay the ad valorem taxes on a unit by unit basis and then prorate the ad valorem taxes among the various owners of Unit Weeks in each particular unit on the same basis as the maintenance fee, collecting said taxes as part of the maintenance fee and paying the same to the Tax Assessor.  Should any Interval Owner fail to pay his share of the ad valorem taxes through the maintenance fee, the Management Firm, as long as the Management Agreement remains in effect, and thereafter the Association of Co-Owners, shall have the right and power to pay same and levy an assessment against the Interval Owner for the Unit Week(s) owned by said Interval Owners, which assessments shall have the same force and effect as all other special assessments.

For the purposes of ad valorem taxation, the interest of the owner of a Condominium unit in his townhouse and in the common elements, shall be considered a unit.  The value of said unit shall be equal to the percentage of the value of the entire Christie Village Condominium, including land and improvements, as has been assigned to said Unit and as set forth in this Declaration.  The total of said percentages equals 100% of the value of all of the land and improvements thereon.

E.       All provisions of this Declaration and Exhibits attached hereto, and amendments hereof, shall be construed as covenants running with the land, and every part thereof and interest therein, including, but not limited to, every unit (and, in the case of a unit so committed, to every Interval Ownership therein) and the appurtenances thereto, and every unit owner and occupant of the property, or any part thereof, or of any interest therein, and his heirs, executors, successors and assigns shall be bound by all of the provisions of said declaration and Exhibits annexed hereto and any amendments thereof.

F.       If any of the provisions of this Declaration, or of the By-Laws, the Articles of the Association or Co-Owners, the Management Agreement, or of the Act, or any section, clause, phrase, word, or the application thereof, in any circumstances, is held invalid, the validity of the remainder of the Declaration, the By-Laws, Articles of Association and Management Agreement, or the Act, and of the application of any such provision, action, sentence, clause, phrase or word, in other circumstances, shall not be affected thereby.

G.     When notices are required to be sent hereunder, the same may be delivered to unit owners either personally or by mail, addressed to such owners at their last known residence designated in writing to the Association of Co-Owners.  Notices to the Association of Co-Owners shall be delivered by mail to the Management Firm.  The change of the mailing address of any party as specified herein shall not require an amendment to this Declaration.

Notices to the Developer shall be delivered by mail at:

                Cedar Village West, Inc.

                P.O. Box 1063

                Banner Elk, North Carolina 28605

Notices to the Management Firm shall be delivered by mail at:

                Village Management, Inc.

                P.O. Box 1063

                Banner Elk, North Carolina 28605

        All notices shall be deemed and considered sent when mailed.  Any party may change his or its mailing address by written notice, duly receipted for.  Notices required to be given the personal representative of a deceased unit owner or a devisee of such deceased unit owner may be delivered either personally or by mail to such party at his or its address appearing in the records of the Court wherein the Estate of such deceased owner is being administered.

H.      The developer shall have the right to use a portion of the common elements of the property for the purpose of aiding in the sales of Condominium units including the right to use portions of the property for parking for prospective purchasers and such other parties as the Developer determines.  The foregoing right shall mean and include the right to display and erect signs, billboards, and placards and store, keep and exhibit same and distribute audio and visual promotional materials upon the common elements of the property.  Further, the Developer shall have the paramount right in its sole discretion to use any Condominium unit (or townhouse thereof) which it owns as a sales office until December 31, 1979.

I.        Whenever the context so requires, the use of any gender shall be deemed to include all genders and the use of the singular shall include the plural, and plural shall include the singular.  The provisions of the Declaration shall be liberally construed to effectuate its purpose of creating a uniform plan for the operation of a condominium project.

J.        The captions used in this Declaration and Exhibits annexed hereto are inserted solely as a matter of convenience and shall not be relied upon and/or used in construing the effect or meaning of any of the text of this Declaration or Exhibits hereto annexed.

K.      Where an Institutional First Mortgage, by some circumstance, fails to be a First Mortgage, but it is evident that it is intended to be a first mortgage, it shall, nevertheless, for the purpose of this Declaration and Exhibits annexed, be deemed to be an Institutional First Mortgage.

L.       If any term, covenant, provision, phrase or other element of this Declaration and Exhibits annexed are held invalid or unenforceable for any reason whatsoever, such holding shall not be deemed to affect, alter, modify or impair in any manner whatsoever any other term provision, element or covenant of the Declaration documents.

M.    THE DEVELOPER SPECIFICALLY DISCLAIMS ANY INTENT TO HAVE MADE ANY WARRANTY(S) OR REPRESENTATION(S) IN CONNECTION WITH THE PROPERTY (INCLUDING ANY WARRANTIES AS TO MERCHANTABILITY OR FITNESS FOR A  PARTICULAR PURPOSE) OR THE DECLARATION DOCUMENTS EXCEPT AS SPECIFICALLY SET FORTH HEREIN, AND NO PERSON SHALL RELY UPON ANY WARRANTY OR REPRESENTATION NOT SO SPECIFICALLY MADE HEREIN.  Maintenance fees, common expenses, taxes, or other charges are estimates only and no warranty, guaranty or representation is made or intended to be made, nor may one be relied upon, as to the accuracy of such estimates.

The Developer shall not be responsible for conditions resulting from condensation on or expansion or contraction of materials, paint over walls, both exterior or interior, loss or injury caused in any way by the elements; the water tightness of windows and doors, defects which are the result of characteristics common to the materials used, and damage due to ordinary wear and tear or abusive use, collection of water within buildings or on any portion of the property nor anything of any type or nature except such items as are specifically delineated and agreed to in writing between the Developer and the individual unit owner and it shall be understood and agreed that the developer shall bear no responsibility in any way as to the matters provided in this paragraph to the Association of Co-Owners and unit owners.

N.     The Association of Co-Owners, by its execution of this Declaration and Master Deed, approves the foregoing and all of the covenants, terms and conditions, duties and obligations of this Declaration and Exhibits attached hereto.  The unit owners, by virtue of their acceptance of the Deed of Conveyance as to their Condominium unit (or Interval Ownership therein)or the use of said condominium (or Interval Ownership therein) and other parties by virtue of their occupancy of units hereby approve the foregoing and all of the terms and conditions, duties and obligations of this Declaration and Exhibits attached thereto.

O.     No unit owner shall bring, or have any right to bring, any action for partition or division of the Condominium property, nor shall any interval owner of unit weeks within any condominium unit committed to Interval Ownership have any right to bring such action with reference to other interval owners of unit weeks in such Condominium unit.

P.      The real property submitted to Condominium ownership herewith is subject to conditions, limitations, restrictions, reservations, and all matters of record, including, but not limited to, all recorded covenants and restrictions, easements for ingress and egress for pedestrian and vehicular purposes, easements for utility service and drainage now existing or hereafter granted by the Developer for the benefit of such persons as the Developer designates, and the said Developer shall have the right to grant such easements and designate the beneficiaries thereof for such time as it determines in its sole discretion, and thereafter the Association of Co-Owners shall be empowered to grant such easements on behalf of its members.  During the period of time that the Developer has the right to grant the foregoing easements, the consent and approval of the Association of Co-Owners and its members shall not be required.  The right to grant the foregoing easements shall be subject to said easements not structurally weakening the buildings and improvements upon the property nor unreasonably interfering with the enjoyment of the property by the Association of Co-Owners members.

Q.     The Association of Co-Owners and its members, the Developer, its successors and assigns and designees, by virtue of the execution of this Declaration and Exhibits attached hereto, are hereby granted an easement over, through and across the roadway areas of the common elements, other than the parking spaces specifically assigned for vehicular and pedestrian easements purposes.  The aforesaid parties are further granted a pedestrian easement over and across the common elements of the property other than limited common elements.  The aforesaid easements shall also be for the benefit of all owners of a portion of the real property and persons resident upon the lands or portions of the lands which are more fully described in Exhibit I attached hereto.  The graveled areas of the common elements which are subject to the easements hereinabove granted may be designated by Exhibit I as a roadway areas, streets, driveways, access easement or ingress and egress easement.

 

No right shall ever accrue to the public from the above described easements and said easements shall endure to January 1, 2037, and thereafter, for successive periods of ten (10) years unless sooner terminated by a recorded document duly executed and recorded by the persons required in the Public Records of Watauga County, North Carolina.  Said easements may be terminated in whole or in part prior to January 1, 2037, and thereafter, upon the joint consent of the Developer, its successors and assigns, and the owners of all the lands which are entitled to the use of said easements.

 

R.      Notwithstanding the fact the present provisions of the Act are incorporated by reference and included thereby, the provisions of this Declaration and Exhibits attached hereto shall be paramount to the Act as to those provisions where permissive variances are permitted; otherwise, the provisions of said Act shall prevail and shall be deemed incorporated herein.

 
ARTICLE XVIII
 

                                Each and every unit owner shall be a member of the Beech Mountain Property Owners’ Association, and shall be bound by the terms, provisions, restrictions, covenants and conditions of record recorded in Deed Book 104, Page 645, Watauga County, North Carolina, Public Registry.

 

ARTICLE XIX

RESTRICTIONS ON OWNERSHIP AND USE BY AND

UNIT OWNERS OF CONDOMINIUM COMMITTED TO

INTERVAL OWNERSHIP

Section I

                No unit owner owning an Interval Interest in any unit so committed may in any way sell, convey, devise or otherwise transfer any unit week(s) contained within his Interval Interest without conveying the entire unit week(s) as defined herein (i.e., any conveyance or attempted transfer of the stated periods of time per year for the stated period of years must be accompanied by and must have as a part of such transfer, the remainder interest in fee simple and vice-versa).

 
Section II

                The right of occupancy and use by an interval owner (or anyone occupying and using by reason of that interval owner) in a unit committed to Interval Ownership shall be and is hereby specifically limited to that time period contained within the unit week(s) owned by that Interval Owner less the period of time sacrificed for maintenance as has been hereinabove described.  In the event any interval owner (or any person occupying under said interval owner) shall occupy that unit for any period or periods other than as designated and thereby prevent or infringe upon the use and occupancy by another interval owner (or any person occupying by reason of such interval owner) owning unit weeks within the same unit committed to Interval Ownership, then the interval owner responsible for preventing and/or infringing upon use and occupancy either by reason of his own use and/or occupancy or by reason of the person occupying by reason of his ownership shall pay to the interval owner who has had his use and/or occupancy prevented and/or infringed upon by such conduct, the sum of One Hundred ($100.00) Dollars per day for each day or part thereof such use and occupancy is prevented and/or infringed upon.  Such sum(s) shall be considered as liquidated damages for the prevention and/or infringement upon such use and occupancy and the Management Firm, so long as the Management Agreement is in effect, and thereafter, the Association of Co-Owners, shall have a lien upon such offending interval owner’s Interval Ownerships in such amount(s).  Such lien shall be the same as, and enforceable by the same means as, liens under Article XI of this Declaration.  Upon collection of such amount(s) from the offending Interval Owner, the Management Firm, so long as the Management Agreement is in effect, and thereafter the Association of Co-Owners, shall pay such sum direct to the Interval Owner(s) whose use and occupancy has been prevented and/or infringed upon for the number of day(s) (or part thereof) so lost or infringed upon as to that particular unit owner(s).

 
Section III

                It is the express intention of the Grantor and the Developer hereof that the interest conveyed to all interval owners of Interval Ownership shall consist of an estate for a stated number of years for certain period(s) of time in each year for a period of sixty (60) years.  This Estate for years shall terminate on January 1, 2035 and shall immediately be followed by a vested remainder in fee simple (which shall also comprise part of said interest so conveyed) as tenant in common with the other interval owners owning Interval Ownership in the unit so committed.  Each interval owner owning an Interval Ownership shall have certain weeks of use and occupancy on a regular recurring basis during the period of the estate for years, and, further, the remainder shall be vested in such interval owner in fee; however, it is the express purpose of the Grantor and Developer that these interests do not merge, as there is a paramount purpose in not merging by providing each interval owner owning an Interval Ownership in a unit so committed, exclusive use and occupancy during certain period(s) of time during each year which shall not conflict with, nor be open to use and/or occupancy by any other interval owner owning an interest in the same unit.  Therefore, there shall be no merger of the estate for years and vested remainder in any interval owner of an Interval Ownership so committed.

 

ARTICLE XX

PERSON TO RECEIVE SERVICE OF PROCESS

 

                Mr. J. William Smith is hereby designated to receive Service of Process in any action which may be brought against or in relation to this Condominium.  Said person’s residence address or place of business is C48 Tamarack Road, Beech Mountain, North Carolina, 28605, which is within the County in which the Condominium Buildings are located (said buildings not being within any city).

 

                In WITNESS WHEREOF, the Grantor, on behalf of itself and to bind itself and all of the Co-Owners who shall comprise the Association of Co-Owners (which shall be known as the Christie Village Condominium Association of Co-Owners) has executed this Declaration as its act and deed, and in witness whereof, it has set its hand and seal, by and through its duly authorized officers, this 10th day of October, 1977.

 

                                                                                                                CEDAR VILLAGE WEST, INC.

(Corporate Seal)                                                                               By J. William Smith, President

                                                                                                                Attest Patricia Karen Harville

                                                                                                                                Assistant Secretary

 
STATE OF NORTH CAROLINA        )
                                                                :
COUNTY OF WATAUGA                 )

                Before me, the undersigned Notary Public in the County and State last aforesaid, personally appeared

 j. William Smith, to me known and known to be the President of CEDAR VILLAGE WEST, INC., and acknowledged before me that he executed the above and foregoing instrument pursuant to the authority duly given, and that the seal affixed to said instrument is the Corporate Seal of said Corporation, and he further acknowledged said writing to be the act and deed of said corporation.

                Witness my hand and notarial seal in the County and State aforesaid, this 10th day of October, 1977.

 

                                                                                                                DeWayne McCauley

(Notary Seal)                                                                                     My Commission Expires: 1/11/78

 
 
North Carolina Watauga County

                The foregoing and annexed certificates of DeWayne McCauley, Watauga County, N.C. Notar(y)(ies) Public is (are) certified to be correct and recorded in this office in Book 174 pages 845-901.

This 14th day of October, 1977, at 4:30 o’clock P.M.

                                                                                                                Phyllis E Foster

                                                                                                                Register of Deeds

 

                                                                                                                Eva Lee Sheri (signed)

                                                                                                                Deputy

 

 

EXIBIT “I”

DESCRIPTION OF PROPERTY

 

                The property herein committed consists of all that certain piece,  parcel or tract of land, together with all improvements thereon, situate, lying and being in Laurel Creek Township, County of Watauga, State of North Carolina, more particularly described as follows:

 

Being all of Condominium Site Number 12 (sometimes referred to as Lot 12), POND CREEK CONDOMINIUM, Beech Mount, according to the plat thereof as recorded in Plat Book 4, Page 137, Watauga County, North Carolina, Public Registry.

 

                This said property and the particular improvements thereon which are hereby committed (and the location of such improvements) are as shown and described on the Site Plan and Building Plans which were previously recorded in Condominium Plat Book 2, Page 3, Watauga County Registry (in connection with a prior Declaration of Condominium affecting the said property), which said Site Plan and Building  Plans, and the architect’s Certificate attached thereto, are hereby incorporated herein by this reference and made a part hereof in their entirety, as fully as if recorded simultaneously herewith.  Improvements consisting of the building within which the units are located and the location of individual units within the building are as shown and described on said Site Plan and Building Plans.  All areas not contained within the units, as said units are defined and depicted in this Declaration and said drawings constitute common elements.

 

                All common elements are general common elements except:

(a)    The door and interior space area and interior walls of the storage rooms located in the entrance area immediately outside of the units shall be limited common areas of the respective units to which they relate; i.e. storage rooms designated as “A” storage rooms belong to “A” units and storage rooms designated as “B” storage rooms belong to “B” units.

(b)   Each of the seven exterior doorways and the stairs appurtenant thereto leading to individual units are limited common elements for the use and benefit of the particular units connected thereto; that is, each stairway and door providing ingress and egress to an “A” and “B” unit shall be limited common elements of such “A” and “B” units.  Additionally, the storage area and door connected thereto located within the stairway area of each “A” and “B” unit are limited common elements of such units, except that each water heater or other appliance which serves one unit exclusively is not a limited common element of the “A” and “B” unit, but is of the improvements belonging to the unit which it serves.

(c)    When and if parking places are designated for the benefit of a certain unit or units, such parking places shall become limited common elements of the unit or units so benefited.

 

The improvement on the property consists of one building consisting of 14 units, 7 of which are designated as “A” units, and 7 of which are designated as “B” units, with the “B” units situated on top of the “A” units.  The “A” and “B” units share a common stairway and exterior door.  Both the “A” and “B” units are numbered 1 through 7 with units 1A and 1B being the units nearest to the roadway entrance to the Christie Village project and units 7A and 7B being the units the furthest away from such entrance.  Units located between such units are numbered in sequential order.


 

EXHIBIT “II”

 

                Each of the fourteen Unit Owners own, in addition to their unit, an interest in the common elements of the property, which percentage ownership has been determined and computed by taking as a basis the approximate market value of the individual condominium unit in relation to the approximate aggregate market value of all units in the condominium.

 

                The percentage interest in the common elements of each original unit owner of an entire condominium unit is as shown hereafter in this Exhibit.  Each Interval Owner shall have the entire use and ownership of the percentage interest in the common elements appurtenant to his unit during his unit week or weeks during the entire period of his estate for years, and such right of use and ownership shall recur each year, and be followed in succession by the respective rights of use and ownership of the other owners of unit weeks in the same unit.  An Interval Owner shall also have a vested remainder in fee simple of a percentage interest in the common elements for each unit week owned by him, which percentage interest is determined by multiplying the given percentage interest per unit week in that unit times the number of unit weeks owned by said Interval Owner in that unit.  Said Interval Owner’s share of the common expenses, assessments, maintenance fees and common surplus shall be the same percentage as his aforesaid remainder percentage interest.

 

                In addition, each Unit Owner shall be entitled to a certain percentage vote in the total votes of all of the condominium Unit Owners.  The vote of each individual Unit Owner (whether he be a Unit Owner of an entire condominium unit or an Interval Owner of an Interval Ownership in a unit so committed) are as indicated elsewhere in this Exhibit.  Such voting rights and the vote of each individual Unit Owner has also been computed by taking as a general basis, the approximate market value of the individual condominium unit in relation to the approximate aggregate market value of all units in the condominium.  The vote of an Interval Owner shall be determined by multiplying the volte allotted each unit week for his unit by the number of weeks owned by him in that unit.

 

                The percentage undivided interest tin common areas and facilities and the number of votes allotted to the owner or owners of each condominium unit are as shown on the schedule attached hereto, and incorporated herein by this reference.  An Interval owner shall own 1/52 of the said percentage undivided interest pertaining to that unit, and shall be entitled to 1/52 of the voting rights of that unit, for each unit week owned by him therein.

 

Unit No.               No. of Rooms                    Percentage interest in common                                Number of Votes to which

                                                                                areas and facilities                                           the unit is entitled

1A                           4                                              5.373                                                                     5.373
2A                           4                                              5.373                                                                     5.373
3A                           4                                              5.373                                                                     5.373
4A                           4                                              5.373                                                                     5.373
5A                           4                                              5.373                                                                     5.373
6A                           4                                              5.373                                                                     5.373
7A                           4                                              5.373                                                                     5.373
1b                           6                                              8.913                                                                     8.913
2B                           6                                              8.913                                                                     8.913
3B                           6                                              8.913                                                                     8.913
4B                           6                                              8.913                                                                     8.913
5B                           6                                              8.913                                                                     8.913
6B                           6                                              8.913                                                                     8.913
7B                           6                                              8.912                                                                     8.912
                                                Total                      100.000                                                 100.000

 

EXHIBIT III

 
STATE OF NORTH CAROLINA       )
                                                                :
COUNTY OF WATAUGA                 )
 

MANAGEMENT AGREEMENT

FOR CHRISTIE VILLAGE CONDOMINIUM

               
 
This Exhibit has not been reproduced as the Management Agreement no longer remains in effect.


Amendment Recorded Bk0080 Pg 746

 

AMENDMENT TO THE DECLARATION OF CONDOMINIUM FOR

CHRISTIE VILLAGE CONDOMINIUM AND THE BY-LAWS OF THE

ASSOCIATION OF CO-OWNERS OF CHRISTIE VILLAGE CONDOMNIUM

 

                Whereas Christie Village Condominium has heretofore filed a Declaration of Condominium in Book 174 at Page 845, of the Watauga County Registry, said document being dated 10 October 1977;

 

                Whereas the Association of Co-Owners of Christie Village Condominium, an unincorporated association, at its regular annual meeting, and as authorized by North Carolina Law and said Declaration, together with the exhibits and attachments thereto, has amended said Declaration and By-Laws as follows:

 

                AMENDMENT ONE:  Article VI, Section 1, of the By-Laws of the Association of Co-Owners of Christie Village Condominium is hereby amended by adding the sentence “Only those owners who have paid their fees and assessments in full through the current year will be eligible to vote”.

 

                AMENDMENT TWO:  Article VI, Section 3, of the By-Laws of the Association of Co-Owners of Christie Village Condominium is hereby amended by striking therefrom the words “a majority” and replacing said words with the words “twenty percent (20%)”.

               

                AMENDMENT THREE:  Article VIII, Section 3, of the By-Laws of the Association of Co-Owners of Christie Village Condominium is hereby amended by striking the words “on the second Tuesday in September” therefrom, and substituting in the place thereof the words “in September or October”.

 

                NOW, THEREFORE, the aforesaid Declaration and By-Laws are hereby amended as set forth in Exhibit “A”, attached hereto and incorporated herein by reference.

 

                IN WITNESS WHEREOF, the declarant has caused these amendments to be executed by its duly authorized officers, this the 4th day of October, 1987.

 

                                                                               

 

                                                                                                ASSOCIATION OF CO-OWNERS OF

                                                                                              CHRISTIE VILLAGE CONDOMINIUM

               

                                                                                                By:    _________________________

                                                                                                                President                            

 

 
Special Meeting

These are the minutes of the Special Meeting held June 22, 2013

MINUTES OF PROPERTY OWNERS ASSOCIATION SPECIAL MEETING

CHRISTIE CONDO CO-OWNERS ASSOCIATION

JUNE 22, 2013

The Special Meeting was called to order at 1:00 pm by Omar Van Rooyen under the authority delegated to him by George Adams, one of the two remaining Board members from the last elected Board of Administrators. A copy of the Meeting Notice is attached to these Minutes.

This Special Meeting was held on site at Christie Village in Unit 2B. Most attendees arrived early and were given tours of all the units at Christie Village (CV).

Omar asked Paul Hansil to review the status of the Board members elected at the last regular POA meeting in October 2010. Paul stated that they were Dorinda Lowery, Heber Rast, Frank Rothmann, Pat Gibson Smith, Max Melton, George Adams, and Marla Hatch. All of these Board members resigned prior to this meeting, except for George Adams and Pat Gibson Smith who has been unreachable for at least 6 months leading up to this meeting. Pat Gibson Smith did send a letter by USPS Express Mail that arrived on Friday June 21, stating that she is still a member of the Board. (According to the By-Laws, this is only until the next Board is elected and has its first meeting).

A prayer was offered by Barbara Freeman.

Omar introduced Angela Crawford and stated that she is continuing to work with CV to clean units and perform other tasks as needed.

Karen Duncan requested that all attendees introduce themselves; we went around the room and did this. Names of meeting attendees are on a sign-in sheet and will be attached to these Minutes.

Omar asked that the profiles for the Board election be passed out. Profiles of the Board nominees were provided to everyone, except for the profile of Tracey Higginbotham (whose printed profile could not be immediately found, so Omar read his Profile information from the e-mail that Tracey sent).

Omar stated that he has 47 proxies, representing 31% of the paid-up memberships. In addition, there are 17 unit-weeks represented in person at this meeting. These proxies and the attendees constitute a quorum as required by the By-Laws.

Omar stated that this meeting is for a single purpose, to elect a new Board of Administrators but that additional agenda items may be discussed if approved by 60% of the attendees. Omar asked if there were any additional items in addition to the items on the printed agenda. No new agenda items were requested, so John Garrett moved that the printed agenda items be approved for discussion. Seconded by Harry Freeman. Motion carried unanimously by voice vote.

Omar stated that we must have a majority of the new Board members present at today’s Board Meeting in order to pass a resolution for First Citizens Bank in order to get someone able to write checks to pay bills. Omar asked for a motion to elect only 3 Board members. Pat DePaulis so moved, Harry Freeman seconded. The majority approved.

Omar opened the discussion of the nominees by asking if anyone had an objection to Omar Van Rooyen and Barbara Freeman serving on the board. No objections were voiced. Discussion continued, with questions regarding the reasons for the other nominees not being present; review of who lives closer, who would seem to be easiest to contact, etc. It was the consensus that Marvin Boots resides closest to Christie Village and that he would be the logical choice in these particular circumstances.

After the discussion, John Garrett moved that the nominations be closed; this was seconded by Ann Scott. Omar Van Rooyen asked for himself, Barbara Freeman and Marvin Boots to be elected as the 3 Board members to serve until the next POA meeting. The motion passed unanimously.

Omar asked that we now continue with the printed agenda items.

Barbara Freeman presented a recap of revenues from the past several years; discussion ensued. It was suggested that a Board committee be formed to make phone calls to ask delinquent owners to get current and “come back” so we can increase annual revenues. Danny DePaulis, Ann Scott, and Jan Van Rooyen all volunteered to be on this committee.

Barbara then presented a recap of expenses; further discussion ensued.

John Garrett asked about the status of the Money Market account that has been asserted by Marla Hatch as “her retirement fund”. Paul Hansil stated that this item appeared in the minutes of the 2010 POA meeting but the minutes stated that the “discussion was postponed until a later time”. Later in the same meeting minutes, it was stated that “Dorinda requested that the previously made motion sent from Mrs. Earle Phillips be revisited. Marie Leach moved and Peggy Hormberg moved that Dorinda, the only current board member present and Marla secure all information available and report logistics related to the motion to the board for further action. The motion passed unanimously.” There is no indication in any subsequent meeting minutes or in any other documents that this action was ever taken. The amount of that Money Market account is now over $16,000 and is in the First Citizens Bank in the name of Christie Village and is, as far as can be determined, the property of the Association.

Barbara showed a presentation of an EXCEL Spreadsheet that shows the status of ownership of every unit. Discussion concerning the fact that ownership continues to decline and it is feared that membership will continue to decline. Paul Hansil stated that Jan Van Rooyen has found a method known as “Right To Use” that would give us the chance to gain new members and annual fees. It was agreed that the first priority must be to get at least some of the units up to reasonable condition.

Barbara reported that there are many units that have mold; we are not yet sure how many units are affected.

Perry Miller asked whether it would be possible to borrow money for the purpose of bringing the units back to reasonable condition. The Board will look into this. Jeff Tucker said that he would be able to help us get an estimate of construction costs.

Jan Van Rooyen presented a review of our Interval International (I.I) status and handed out a copy of a letter from I.I. that she found in the office when she visited CV on May 23 (copy of this letter attached). Jan called I.I. to ask if they could reinstate us; they said that they had tried 37 times to call CV to discuss this and they had received no return calls or other communications from CV. Jan said that I.I. is still accepting swaps from CV owners, but that we are no longer part of their program and they may stop taking swaps at any time. Jan is exploring other exchange companies and hopes that we’ll be able to participate in one or more of those.

Omar opened the floor for questions. John Garrett asked if Omar feels we can survive financially until the end of this Fiscal Year and can get FY2014 maintenance fees coming in. Omar said that we “hope” to be able to do this but there are still many unknowns.

Barbara Freeman showed the CV “under construction” website to the attendees (www.christievillage.com). Omar provided the username and password to the attendees so that they could access the Governing Documents page of the website. Omar asked if the attendees were in favor of officially activating the website and the answer was unanimously “Yes”. Barbara showed the “Christie Chronicle” newsletter prototype on the website and Jan asked for input and feedback from the owners for content to be included in the newsletter.

Omar asked if there was any other business to be discussed. Pattie Waller asked who, in the short term, would take care of getting an acceptable unit for owners’ weeks of use. Jan Van Rooyen stated that she (Jan) has been calling every owner in advance to be sure everyone is accommodated. Janice Hansil stated “you will be taken care of as long as CV is open”.

Patti Knight asked what would happen if CV cannot get enough revenue to continue to operate. Omar and Paul explained the dissolution process as they understand it, and stated that the new Board may contact the local attorney about how much it would cost for this, as a last resort.

Paul Hansil moved that the meeting be adjourned at 4:05 pm; seconded by Jerry Mayes.
These Minutes were recorded during the meeting by Paul Hansil, acting as Recorder.



Paul Hansil June 22, 2013




CHRISTIE VILLAGE SPECIAL MEETING AGENDA
JUNE 22, 2013

WELCOME, CALL TO ORDER, & INTRODUCTIONS OMAR VAN ROOYEN
Introduce “Concerned Co-Owners”

INVOCATION BARBARA FREEMAN

NUMBER OF OWNERS PRESENT (FROM THE SIGN-IN SHEET) OMAR VAN ROOYEN
Number of Proxies granted to Omar Van Rooyen
Number of Proxies granted to others
Total Number of Paid Up Owners
Purpose of this meeting
- ELECT A BOARD OF DIRECTORS
- Any additional agenda item(s) must be approved by 60% of the Owners present at the meeting (in person or by proxy)

ELECTION OF DIRECTORS
- Names of nominees already known
- Call for nominees from the floor
- ELECTION

CALL FOR ADDITIONAL AGENDA ITEMS FROM THE FLOOR OMAR VAN ROOYEN

1. New Agenda Items discussion/presentations if any

2. Paul Hansil has requested a recap of the last 3 years’ revenues
and expenses, and a statement of our current financial status
a. Presentation of financial information BARBARA FREEMAN

3. Barbara Freeman has requested analysis of the membership of
Christie Village; how it has declined and why it has declined.
a. Presentation of membership information BARBARA FREEMAN

4. Barbara Freeman has requested information on Interval
International relationship and why it has been cancelled.
a. Presentation of Interval International information JAN VAN ROOYEN

5. Questions from the floor

ADJOURN SPECIAL MEETING

FIRST MEETING OF NEW BOARD OF DIRECTORS
- Board members must elect Officers from among themselves
- Board may decide to meet in private or to openly solicit and
discuss feedback from owners

Christie Village Interval Ownership
100 Horn Beam Rd.
Beech Mountain, NC 28604
Phone 828-387-2100
June 3, 2013



To Whom It May Concern:
On October 24, 2010, at a Christie Village Meeting of Co-Owners, held at the Beech Mountain Fire Department Training Room, Beech Mountain, North Carolina, Michael Hansil moved and Bob Leach seconded the motion that the following be elected as the new board of seven members: (1) Dorinda Lowery (Cocoa Beach, FL), (2) Heber Rast (Cameron, SC), (3) Frank Rothman (Anderson, SC), (4) Pat Gibson Smith (Cheraw, SC), (5) Max Melton (Monroe, NC), (6) George Adams (Indian Harbor Beach, FL) and (7) Marla Hatch (Banner Elk, NC). Alternate board member: Roger Overton (Butner, NC). This motion was accepted unanimously.
As there has been no Board meeting since that time, all Board Members remain in office until such time as they are replaced by duly elected officers at a subsequent meeting.
As of this date, all Board members, with the exception of me and Pat Gibson Smith, have resigned their positions. Because of the virtual decimation of the Board of Directors, it is of paramount importance that a new Board of Directors be elected as soon as possible. Due to this emergency situation, a meeting of all Christie Village owners will be held on Saturday, June 22, 2013, at Christie Village, 100 Horn Beam Rd, Beech Mountain, NC 28604.
In the event that I will be unable to attend that meeting, I hereby appoint Christie Village owner, Omar Van Rooyen, to serve in my absence as my representative in all matters concerning such meeting, including overseeing the nomination and election of a Board of

GEORGE T. ADAMS,
Board of Directors
Christie Village Interval Ownership


List of Attendees

Ann Scott and Wanda
John Garrett, Jr.
Kathy and Perry Miller
Karen Duncan
Frances Duncan
James and Pattie Waller
Jerry and Clara Mayes
Ralph and Lorena Ott
Dan and Pat DePaulis
Paul and Janice Hansil
William J Tucker (Jeff)
Jan and Omar Van Rooyen
Barbara and Harry Freeman
Patti Knight
Angela Crawford





 


 

Annual Meetings

The following is a transcript of the Annual Meeting held September 20, 2014

Call to Order:

-          The meeting was convened at 1:00 pm by President Omar Van Rooyen

-          A prayer was offered by Barbara Freeman.

Omar introduced himself, welcomed everyone and asked everyone to state their name.  Twenty-one were in attendance (attendance sheet attached), representing 12 units. 

Announcements and roll call - President Omar Van Rooyen:

-          Notice of Inspection met;   47 proxies received by President

-          Status of VP Joe Stegall

-          Negotiation for sale of one building has ended; unable to complete due to poor health of buyer

-          Bank loan did not materialize- not needed due to collection efforts of combined board/owner committee; new roof and decking were installed and paid in full with no financing needed

-          Last September, there were 154 current/paid up members.  This September, there are 161 current/paid up members

-          The collection committee reclaimed 64 units from either delinquent or deceased owner

-          Thanks for donation of numerous renovation items made by family of owner member Max & Martha Melton; thanks to Dave & Melissa Auret  

-          While Christie Village is still in a survival mode, the Association and property are now stabilized 

Minutes from last meeting were read by Treasurer, Barbara Freeman

-          Motion made by Ann Scott and seconded by Patricia DePaulis to accept past minutes

Treasurer Report- Barbara Freeman:

-          Handouts of financial data explained and discussed

-          Decision to utilize Collection agency explained; letters and phone calls from Association made first, then second letter to delinquent accounts advising of turnover to collection agency prior to actual turnover to Aspen Collections.

-          Question from Perry Miller regarding water usage

o   Suggestion to check pressure retention value to ensure 50 lbs setting

-          Question from Fermin Bocanegra regarding bank charges

o   Suggestion to charge costs associated with bank cards and/or PayPal to owners

o   Motion made by Fermin Bocanegra and seconded by Dan DePaulis to add usage fees

§ All agreed by show of hands that charge should be added

-          Owners Ann Scott and Dan DePaulis volunteered to assist with delinquent owner calls

o   Barbara to follow-up with them

-          Question from Janice Gable: Were delinquent owners allowed to come and use their unit?

o   Barbara replied no

-          Discussion regarding collections/efforts

o   Jan Van Rooyen noted that 6 accounts were set up on payment plans and some owners had elected to make monthly payments for annual dues

-          Motion made by Dan DePaulis and seconded by Jim Bowden to accept Treasurer Report

 

Report on water usage by Omar Van Rooyen:

-          Water leak and usage must be addressed now

-          Discussion held with Town of Beech Mountain to install 14 individual water meters on the 7 buildings.  Presently there are 2 meters- one for office/laundry room, the other for the condo units

-          Nine units are currently not using water, but must still pay minimum monthly water bill of $71.63

-          Christie Village must install new pipes and run pipes into each building/unit

o   Bids obtained already for project;  Forbes Plumbing best bid at $13,000

o   Discussion  followed regarding benefit and cost savings of plumbing project

§ Potential  $800 per month in savings if plumbing project approved & completed

o   Discussion on  having an assessment to cover costs of plumbing project

§ President stated any assessment must be spent for specific projects; cannot be used for everyday expenses of the Association 

President led discussion of need to renovate and open back up closed units (9 presently closed) as budget allows; need to get some more units open due to increased demand of occupancy from owners and also due to potential increase to revenue from rentals:

-          Unit 7A renovation has started- Old carpet removed

o   Costs  for carpet or tile have been solicited by Barbara

§ Discussion followed on benefits of laminated wood

o   Comment by Margaret Bocanegra that they should check with reputable contractor who can get items at cost

o   Barbara to follow-up on this

All: Discussion on how much assessment would be needed to cover unit renovation in addition to plumbing project

-          President stated that an assessment of $150 per unit needed to cover both project costs

-          Motion made by Ann Scott and seconded by Harry Freeman to have $150 per unit assessment

o   Show of hands; all in favor, no dissents.  Motion passed.

 

Budget for Fiscal Year 2015: 

-          President led discussion on budget shortfall for coming year:

-          President stated that we need an increase in annual dues; no increase in dues in 4 years

-          Increase in dues will help bottom line and reserves

-          Proposed increase  of $25.00 per A/2 bedroom unit; $35.00 per B/3 bedroom unit

o   Motion to increase dues made by Dan DePaulis and seconded by James Lennon

o   Show of hands; all approved, no dissents

-          Comment by Dan DePaulis that letter needs to go out to owners to explain necessity of both assessment and increase in dues

o   Barbara and Omar commented that paragraph will be added to statements and also published on the website with minutes for owners to read

-          Motion made by DePaulis and seconded by Fermin Bocanegra to accept budget

Old Business:

-          Interval International Update

o   Jan Van Rooyen reported that Interval has assigned sales rep to Christie Village

§ Based in Miami

o   Interval will allow CV owners to exchange existing banked units with them, and renew their Interval memberships

o   Full reinstatement pending; expected within next month

§ Last step to reinstatement is onsite inspection by sales rep

-          Update on Right to Use (R-T-U) Initiative

o   One new R-T-U made by Omar Van Rooyen

o   Challenge to each owner to find one new member

New Business:

-          Visibility of Christie Village

o   Carl Gable said a promotion is needed to make Christie Village more visible

o   Margaret Bocanegra commented that a new sign with lights is needed

§ Possibly move sign to top of office so it can be seen better

o   Board noted and will consider options to improve, subject to budget constraints 

-          Management of Christie Village

o   Board currently exploring 3 options

§ Call upon membership to staff the office

·         Barbara Freeman asked if anyone present would volunteer to staff office on weekly basis; no offers

§ Find a couple to live onsite , rent free, in exchange for office duties and light maintenance work

·         Barbara asked if anyone knew of a husband/wife team; no responses 

§ Forge a partnership with another timeshare in area

·         Benefits would include 7/24 on call personnel

·         Rental overflow could benefit both timeshares

·         May have synergy with other timeshares membership with Interval International

o   Board to continue exploring options; solution needed asap

Election of Directors:

-          President Omar Van Rooyen is leaving the Board for personal reasons

o   Will remain an active owner; wife Jan will continue as Marketing Manager

o   Gratitude expressed and round of applause for his efforts

-          Omar read list of current Board positions and  volunteers:

1.       Joe Stegall- current VP- will remain on Board

2.       Barbara Freeman- current Treasurer- will remain on Board

3.       David Fields- current Secretary- will remain on Board

4.       Robert Goldberg- current Director- will remain on Board

5.       Liz Hudson- new volunteer; only as remote; cannot attend meetings except via conference cal

6.       Tracey Higginbotham- new volunteer

a.       Stated he would withdraw his name if someone else volunteered

b.      Fermin Bocanegra volunteered, Tracey withdrew his name

-          President Omar Van Rooyen asked for a motion to accept 5 names: Joe Stegall, Barbara Freeman, David Fields, Robert Goldberg and Fermin Bocanegra to serve on Board of Administrators.

o   Motion made by Perry Miller and seconded by James Lennon to accept names

§ Show of hands, all in favor, no dissents

§ New Board will meet after annual meeting to elect Officers

·         Results of Officer Election to be posted in Board minutes

-          Door Prizes

o   Grand prize, free CV week to bank with DAE and DAE to offset exchange fee won by Kathy & Perry Miller

o   $20 gift certificate to Fred’s General Store won by Ann Scott

o   $10 gift certificate to The Pedaling Pig won by Ruby Heavener

 
Adjournment:

-          There being no other business, the Annual Meeting was adjourned at 3:20 pm.

A BBQ luncheon was held afterwards.
 
Recorded by Janice Van Rooyen           
Approved by Barbara Freeman








































































































































































































































































The following is a transcript of the Annual Meeting held September 14, 2013

The annual Homeowner’s Meeting was held on site at Christie Village and was called to order at 1:08 PM by president, Omar Van Rooyen.

Officers Omar Van Rooyen, President, Marvin Boots, Vice-President and Barbara Freeman, Secretary/Treasurer were present.

Omar recognized Max Melton, long-time owner and former board member and thanked him for his service and loyalty to Christie Village.

Omar thanked all of the volunteers who had helped with the on-going cleanup of the property at Christie Village, plus Angela Crawford and her daughters.

Announcements:
• Christie Village now has a FaceBook page and owners are encouraged to “like” Christie Village.
• Christie Village can now accept PayPal payments. Of course, checks can still be accepted and that is the preferable payment method because we do not incur the “fee”. VISA and MASTERCARD can also still be accepted.
• Door prizes will be awarded at the end of the meeting
(a) Roll call
 Everyone present gave their name. Names of attendees are on the sign-in sheet which will be attached to these meeting minutes.
 There are a total of 32 proxies signed over to Omar Van Rooyen
(b) “Proof of notice” is the meeting notice in everyone’s meeting packet (along with the agenda)

(c) Reading of Minutes of last meeting
Barbara read the meeting minutes from the June 22, 2013 meeting
• Jan Van Rooyen moved that the minutes be approved
• Seconded by Joe Harper

(d) Treasurer’s report
• Barbara Freeman provided handouts for the Treasurer’s Report (which will be attached to these minutes). Handout includes 2013 revenue/Expenses, 7-yr financial analyses, and the proposed 2014 budget
o Barbara reviewed the 2013 financial situation.
 Revenue is greater than previously reported at the June 22, 2013 meeting. This is due to the collection team (made up of Dan DePaulis, Ann Scott and Jan Van Rooyen) that was implemented at the June meeting. This team has made calls to delinquent owners. (more about this in a report by Jan Van Rooyen later)
 Expenses are greater due to improvements that have been made. A payment was made on the water bill, which was $8,000 in arrears in June, and the balance was negotiated to be paid by Christie Village for $590/month for 12 monthly installments to catch up the past-due amount. We’ve now made three of these payments along with each month’s regular bill.
 Discussion of water bill which continues to show a very high usage even when no one is actually using water:
 Perry commented that some shower heads are broken; others commented that the toilets have run constantly when they were on site in the past
 Omar stated that he has cut off all water valves and still sees water meter continue to run. Omar has diagnosed there is a hidden leak “somewhere”; and he’s still trying to find it
 Martha Melton asked whether owners could bring repair/replacement items. The answer is yes (but keep in mind that these units are used by others and personal items may be damaged or disappear).
• Barbara recognized and thanked the many volunteers who have helped out over the past 3 months. Joe Franklin and his son-in-law Terrence have helped with cleanup of the grounds and Joe Franklin built shelves in the laundry room. Wanda and Joe Stegall have helped to strip wallpaper and paint and have provided door prizes and other maintenance items. David and Lisa Fields have done many chores during 3 weekend visits to Christie Village. She also thanked the people that brought desserts and items for the cookout that will follow the meeting.
• Omar stated that 2 owners have made unsolicited donations for the expense of the annual meeting
• Dan asked, “What is Angela Crawford’s (who does housecleaning) situation?
o She is still employed, but only gets paid when owners have visited and there is a need for cleaning.
• Paul Hansil asked Barbara for a “balance sheet” or “cash flow/cash position” statement
o Barbara said “‘They’ don’t normally present this info”, but Paul said these figures are part of a normal financial report. Barbara pointed to the “retained earnings” figures on the bottom of the 2007-2013 estimated financial analysis: Cash in the two bank accounts at 10/1/12 was $18,853.55; cash at 9/30/13 is projected to be $5,487.56
• 2014 Proposed Budget
o Barbara showed the budget prepared by Omar Van Rooyen
o Omar said the 2014 budget anticipates rental income as well as associated expenses
o Discussion of renting to skiers in the winter ensued. Renters have to be monitored because damage could occur. Jan Van Rooyen commented that we will require a credit card which will be held to take care of damages, should they occur.
• (e) No (e) on the agenda
(f) Actions taken since Special Meeting on June 22.
o When discussion on the 2014 budget began, Omar asked for the opportunity to discuss the “actions taken since special meeting in June” agenda item before continuing the 2014 budget discussion
 (Actions taken
 Omar reviewed inspection conducted on June 24, 2013 by the city inspector, John Merritt.
 He asked Jan Van Rooyen to present the delinquent dues committee report
(g) Old Business
(g-i) delinquent dues committee report
• Jan reported on the activities in some detail
o Says we have “commitments” from delinquent owners of >$8,000, yet to come in
o The committee has collected $4,660
o Stated that we intend to start calling delinquent owners and letting them know that we will be turning them over to a collection agency
o We have about 160 owners in arrears
o We also have 160 owners who are current

(g-ii) Status of Marla Hatch’s claim
• Omar says 4 letters have been written to the Board and to Marla’s attorney on this matter
Omar read the letter that was sent from our attorney to the writers of the first two letters (our attorney’s letter will be attached to these minutes). We intend to send the same response to the other two letters
• Perry commented about Marla’s collection of approx. $6,000 of “rent” money that never was run through Christie Village books; said that this was surely illegal
• Paul Hansil reminded the group that we decided at the last meeting to “look forward” instead of looking back at past problems
• Joe Stegall asked, “Where is the CD money shown on our books?”
Paul Hansil stated that that these funds are part of (and have been part of) the association’s cash assets
• Further discussion about the fact that nobody has ever seen anything in writing; there is nothing in the minutes that officially gave ownership to Marla, only hearsay

(g-iii) Status of loan
• Omar says the board has discussed a line of credit with the bank; $100,000 at 5% for 15 years
The “loan repayment” line item in the 2014 budget is the amount of the monthly payment on this loan
Discussion re the use of the loan proceeds
- Primary items are roof replacement, repair/replacement of decks to eliminate water damage to lower units

(h) New business
• The way ahead
Omar sees 3 possibilities:
1. Shut down, try to sell the property. Omar doubts if we could even realize the “tax value” ($757K) (yearly maintenance dues would include amount necessary to pay taxes and insurance)
2. Bail out, stop paying taxes, let the property be foreclosed by the tax authorities and sold
3. Find a way to get the money needed for repairs and save Christie Village
Omar recommends option 3

(i) Adjustment of annual dues / Requirement for special assessment to pay the loan required for option 3 above.
o If we increase dues by $50-$100 per unit, we would get $8,000-16,000 per year, but “the increased cost would go on forever”
o One of our owners wants to buy a building (A unit + B unit)
 We don’t need 14 units to satisfy our current owner base
 If we sell the building for $100,000 we wouldn’t need the loan
It’s likely that we’d need to get the loan to hold us over only until the sale of the unit goes through
o Omar recommends that we take out the loan and do an assessment “now” of $100 per unit, to pay the loan payments until the sale of the building goes through.
o If we make the sale, we could pay off the loan
o If the sale doesn’t happen, we would need to have more assessments in future years
o Jeff asks whether the 2014 budget includes the assumption of an Assessment. (Yes, assumption of $14,220 assessment is the revenue in the budget to pay the loan payment for the roof)
o One member commented that $100 is a very low amount for an Assessment
o Carol Strittmatter stated that there should be a “reserve for future maintenance” included in every year’s budget
o Janice Hansil asked why not make the Assessment $200 instead of $100?
o Jeff Tucker suggested that we need enough money to make “cosmetic” repairs/replacements in the units
o Jeff Tucker says that the actual cost for roof repairs will be higher than the quotes, because there will be sheathing replacements required
o Carol Strittmatter asked if Omar thinks an Assessment of $150 will fly?
o John Garrett moved that we require an Assessment of $100
 Seconded by Harry Freeman
 Motion passed with one objection
 Omar requested a motion to authorize the Board to negotiate the sale of one of the buildings
 Ann Scott so moved,
 seconded by Harry
 Discussion: CV will still be responsible for exterior maintenance; we would require that the owner pay a negotiated annual maintenance fee
• Mary Beth Harper asked whether owners would have any expense associated with this.
• Omar and Barbara said that owners would not incur any expenses with transferring their deed. They could also ask for different weeks as well as a different unit; board will work with owners to be sure they’re satisfied
 This motion passed with one objection

(iv) Jan presented the “Right to Use” contract (copy will be attached to these minutes)
• Joe Stegall asked whether the R-T-U weeks could be “floating weeks”.
o Jan said, “Yes, this can be done”, but Omar said there may be a legal problem; will need to review (example: may be impossible to swap)
• Jan “challenged” each owner to find one friend who will buy a R-T-U
• Patty asked about Interval International status
Barbara Freeman said Interval is still accepting our owners’ deposits, Barbara is still approving these
• Jan stated that I.I. is the most expensive of the 4 organizations we’re associated with: Interval International, Dial An Exchange, Crown, and Platinum (info on all of these are included in the meeting package
• Omar stated that invoices for FY 2014 will be sent after October 1; will be due by January 1 but early payment will be appreciated.

• Wanda Stegall expressed appreciation for the work that the new board has done.
• Max Melton asked about a person to take care of CV.
o Jan explained we’re going to be interviewing for a live-onsite manager

• Jan Van Rooyen presented flyer to be sent out about “Oz Week” promotion (handout in the meeting package)

• Jan Van Rooyen stated that CV is now a member of the Beech Mountain Chamber of Commerce
• Omar requested a motion to approve the proposed FY 2014 budget
o Joe Stegall so moved,
o Seconded by David Fields
o Motion passed unanimously

(i) Election of Inspectors of Election
• Omar stated that if only 5 nominees, no Inspectors are required
• Omar stated that the following people have volunteered to be on the Board :
Omar Van Rooyen
Barbara Freeman
Joe Stegall
David Fields
Bob Goldberg
(j) Election of directors
• Omar asked for volunteers from the membership present. There were none
• Omar asked for a motion to elect the above slate of nominees to the new Board
o Harry Freeman made this motion;
o seconded by Dan DePaulis
o Motion passed unanimously

• Door prizes were awarded using random drawings of names of attendees
• Omar asked for a motion to adjourn
o Harry Freeman moved
o Janice Hansil seconded
o Motion passed unanimously

• Adjournment to the cookout.



ATTENDEES
1. Harry Freeman (1)
2. Barbara Freeman
3. Marvin Boots (1)
4. Emily Boots
5. Omar Van Rooyen (1)
6. Jan Van Rooyen
7. Joe Stegall (1)
8. Wanda Stegall
9. David Fields (1)
10. Lisa Fields
11. Ann Scott (1)
12. Wanda Porter
13. Kathy Miller (1)
14. Perry Miller
15. Joe Harper (1)
16. Mary Beth Harper
17. John Garrett (4)
18. Jeff Tucker (1)
19. Carol Strittmatter (1)
20. James Lennon (2)
21. Nancy Lennon
22. Joe Franklin
23. Rita Franklin
24. Ruby Heavner (1)
25. Paul Hansil (1)
26. Janice Hansil
27. Frances Duncan (1)
28. Melanie Mondrut
29. Marissa Mondrut
30. Dan DePaulis (1)
31. Pat DePaulis
32. Max Melton (2)
33. Martha Melton
34. Melissa Auret
35. Angela Crawford
36. Allysa Crawford
37. Allie Crawford
38. Friend of James and Nancy Lennon
39. Friend of James and Nancy Lennon
 



The following is a transcript of the Annual Meeting held October 24, 2010
 

Christie Village Meeting of Co-Owners

Beech Mountain Fire Department Training Room

Beech Mountain, North Carolina

October 24, 2010

 

Dorinda Lowery called upon Heber Rast to open the meeting with prayer at 1:15 pm.

 

Marla Hatch certified a quorum was available for voting purposes.

 

Dorinda announced that the following are board members (1) George Adams (absent); (2) Roger Overton (absent); (3) Marla Hatch (present); (4) Dorinda Lowery (present); (5) Don Sizemore, president (absent – no longer a property owner, returned deeds); (6) Kent Banks, vice president (absent – previously resigned and (7) Baxter Gardner (absent – previously resigned).

 

The attached financial statement (budget) was presented and explained.  The balance in the Operating Account is $11,260.33 and the balance in the Money Market account is $1,591.78.  There is no mortgage on the Christie Village building/property.  Notice was taken that funding for Christie Village is an extremely critical issue for all property owners.  Most notably was the salary and insurance for the dedicated Property Manager, Marla Hatch.

 

Proxy notices were mailed to 327 property owners.  These owners are either current with maintenance fees or slightly behind.  Notices were not mailed to those in extreme arrears.

 

A letter which had been mailed earlier to the list of owners (provided by Marla) from property owners Heber and Gloria Rast and Frank and Barbara Rothmann was read by Heber Rast.  This was to benefit those not having received the mailing prior to the meeting.

 

A motion e-mailed by Mrs. Earle Phillips was read/presented by Dorinda Lowery and seconded by Peggy Hormberg.  The motion as read: “That the Christie Village Board of Directors take immediate action to obtain and transfer to Marla Hatch with the next 30 days the accumulated current CD value of the original $10,000 which was set aside in a bank account separate from that of the Christie Village operating account by the Christie Village Board of Directors when Ms. Faith Kaiser was its Chairman for the purpose of providing Ms Hatch with funds toward her retirement.”  A great deal of discussion followed and Gloria Rast suggested that discussion be postponed until a later time.  This suggestion was accepted by unanimous consent.

 

Dorinda Lowery presented a suggestion that seriously delinquent property owners be sent a summary of this meeting and include in the mailing an avenue for owners to use a quitclaim deed as a means of deeding their property back to Christie Village, thereby removing any financial obligations to this property.  The only fee to be collected from the delinquent owners would be for the recording of the deed which is approximately $25.00.  This suggestion was accepted as a motion and made by Marie Leach and seconded by Peggy Hormberg.  The vote was unanimous.

 

The maintenance of the building was a great concern to all present, including the Property Manager, Marla.  Many ideas of how to approach this enormous project with no funds to do so surfaced.  Peggy Hormberg made and Gloria Rast seconded a motion to offer any owner the use of unit rent free, in off-season, in exchange for sweat equity in the form of cleaning, general maintenance and repair as noted and approved by the board.  This will be offered to family and/or friends as recommended by owners who will assume all responsibility for work performance.  The motion was accepted.

 

Open fireplaces in the units of Christie Village have long been a great concern to owner, Gloria Rast who is a volunteer firefighter in South Carolina.  Tragedy from her point of view can be eliminated by closing all fireplaces and using some sort of electric logs for heat/or ambiance in the units.  This concern and suggestion will be taken into serious consideration by the board and acted upon accordingly.

 

The suggestion of a Special Assessment to all owners was taken under advisement and will be submitted to the board.

 

A major source of concern for all owners who use their weeks in the exchange program offered by Interval International is the reality that our property will NO longer be a viable property to exchange.  Marla has received numerous notices from II with regard to the lack of proper maintenance to the property.  If routine types of repair and/or updates are not made in the very, very near future the property will no longer be available for more detail on this matter.

 

Dorinda requested that the previously made motion sent from Mrs. Earle Phillips be revisited.  Marie Leach moved and Peggy Hormberg moved that Dorinda, the only current board member present and Marla secure all information available and report logistics related to the motion to the board for further action.  The motion passed unanimously.

 

In light of the current situation at Christie Village and in keeping with fees charged by other comparable timeshare properties Heber Rast made the motion that the fees on a two (2) bedroom unit be increased from $299 to $325 and on a three (3) bedroom from $372 to $400 week.  This motion passed unanimously.

 

Michael Hansil moved and Bob Leach seconded the motion that the following be elected as the new board of seven members: (1) Dorinda Lowery (Coca Beach, FL), (2) Heber Rast (Cameron, SC), (3) Frank Rothman (Anderson, SC), (4) Pat Gibson Smith (Cheraw, SC), (5) Max Melton (Monroe, NC), (6) George Adams (Indian Harbor Beach, FL) and (7) Marla Hatch (Banner Elk, NC).  Alternate board member: Roger Overton (Butner, NC).  This motion was accepted unanimously.  This newly elected board will elect a president, vice-president, secretary and treasurer for the property association.

 

The meeting adjourned at 4:45 pm EDT.

 

Submitted by:  Gloria Rast, recorder for this meeting

 

The board of directors present elected the following officers for the Property Owners Association:

President, Heber Rast

Vice President, Dorinda Lowery

Secretary, Frank Rothmann

Treasurer, Marla Hatch

 
 

Financial Statement attached:

 
 
CHRISTIE VILLAGE
ANNUAL MEETING
OCTOBER 24, 2010
 
DEPOSITS
 
85238.85
 
 
 
EXPENSES:
 
 
 
Taxes
 
8500.68
   Beech Mtn
5085.18
 
   Watauga
3415.50
 

Accounting Fees

 
960.00

NC Dept of Rev

 
620.50

Office Supplies

 
461.51

BM Club

 
1350.00

Snow Removal

 
2100.00
Misc.
 
939.96

Mtn. Electric

 
24717.90

Skyline Telephone

 
3842.73

BM Utilities

 
9028.79

Charter Comm.

 
7036.60

Farm Bureau Ins.

 
3521.00
Repairs
 
835.00
Lowes
 
1323.31

Cleaning Supplies

 
724.21

Maid Service

 
5460.00
Payroll
 
853.64
Total
 
$72275.83
 
 
 
 
 
 
 
 
 
$72275.83

Board Meetings

These are the minutes of the two Board Meetings held September 20, 2014

MINUTES OF THE BOARD OF ADMINISTRATORS
OF
CHRISTIE CONDO CO-OWNERS ASSOCIATION
 SEPTEMBER 20, 2014

This meeting of the Directors of the CHRISTIE CONDOMINIUM CO-OWNERS ASSOCIATION held prior to the Annual POA Owners meeting to review the agenda and other items prior to the Annual POA Owners Meeting 
 
 

Attending:  Omar Van Rooyen, President
                 Barbara Freeman, Treasurer
                 Robert Goldberg, Director

Not Attending:  David Fields absent due to illness in his family
                       Joe Stegall, absent due to being rushed to the hospital last night

The meeting was called to order at 11:00 AM by President, Omar Van Rooyen

AGENDA ITEMS:
 

·         TREASURERS REPORT

o   CASH on Hand

§ Barbara Freeman reported

·         $2768.94 in checking

·         $2,502.30 in CD ($3,000 was used in June to complete the payment on the roof)

o   INCOME /EXPENSES

§ Income for fiscal year $137,785.08 through Sept 20, 2014 and possibly there will be more checks received

§ Expenses for fiscal year 138,786.12 through Sept 20, 2014 and other expenses will likely be received before the end of the month

§ Utilities continue to be a big budget item

o   HIGHLIGHTS

§ Roof $65,770 is completely paid for due to collections of delinquency accounts, assessment from members in 2014, and only $3,000 from the transfer of the CD

o   INSURANCE FOR THE CHRISTIE VILLAGE PROPERTY

§ Omar found a new agency and company to insure the Christie Village Property.  Regions Insurance (subsidiary of Regions Bank), agent Charles Foster.  The underwriter will be Auto-Owners.  Barbara has met with Charles Foster and was most impressed with his professionalism plus the fact that he was willing to drive from Columbia, SC to Beech Mountain to discuss our insurance needs.  We have filled out the application and a check for the first installment has been mailed today.  Effective date will be Sept. 16, 2014.  Once everything is finalized our current agent and company will be notified.

·         BUDGET

o   Omar presented the budget for our approval before it is presented to the members with the following highlights:

§ A maintenance increase is necessary to continue to pay the regular bills. 

·         Omar wants to raise the maintenance dues by:

o   “A” UNITS $25

o   “B” UNITS $35

·         Rates were last increased in 2010.  That’s been four years.

·         This budget DOES NOT have any provisions for salaries for any employee.  The board will have to provide management of the facility as Omar/Jan and Barbara/Harry have done the past year.  Bob Goldberg wants to explore a management company.  This will be expensive.  Barbara has approached SPM who manages Highlands@Sugar Mountain.  They will only take management of a facility if there are 50 units.

·         Omar asked for our approval to present the budget to the membership and explore further the management alternatives

·          All were in agreement

§ Omar also wants to recommend another assessment in the amount of $150 per unit.  This assessment would be used to fund the plumbing project  and renovate one or two units.

·         Plumbing Project will allow running separate lines to each unit and have 14 meters - one to each unit.  That would allow a cutoff for each unit.  It would also give emergency monitoring by the city so that if a leak occurred Beech Mountain Utilities would be able to see that on their monitoring device and take action to “shut off” the water from the central facility.

·         Renovate one or two units.  We currently only have 5 units that are in good enough condition to be occupied.  This limits income from rental and more folks are using the facility so we need more units for the membership.  We would like to fix up 7A (which needs the least amount of work) and if there’s enough money we want to start at least one more ”A” unit renovation.

§ Board members agreed to present this to the membership at the meeting

o   BOARD MEMBERS TO BE ELECTED

§ Omar will be stepping aside to explore other opportunities

§ Names to be presented for election

·         Joe Stegall, David Fields, Tracey Higginbotham, Barbara Freeman, Bob Goldberg

The newly elected Board will hold their first meeting after the POA Annual Meeting.

There being no other business, the Board Meeting was adjourned at 12:15 pm.

Recorded by Barbara Freeman
Approved by Omar Van Rooyen  

Respectfully submitted
Sept 20, 2014

Barbara A. Freeman, Treasurer

 

The first meeting of the newly elected Board of Administrators of Christie Village Condominium Co-Owners was called to order @ 4:00 PM EDT, on Sept., 20, 2014.  The meeting was held on site at Christie Village. 

In attendance were:

Omar Van Rooyen, Resigning President,  

Bob Goldberg,

Fermin Bocanegra

Barbara Freeman

Not attending:

David Fields – due to sickness in his family

Joe Stegall – due to Joe being sick

 

REVIEW OF POA MEETING

There was a brief discussion about the POA meeting that just concluded.  All felt the meeting was positive and the $150 assessment and the increase in the dues will help the financial situation.  Selling Right to Use and additional units will also help our cash situation.

ELECTION OF OFFICERS 

·         The first item of business is the election of officers from the newly elected board.

o   Recommendations

§  Bob Goldberg, President

§  Joe Stegall, Vice-President

§  Barbara Freeman, Treasurer

§  David Fields, Secretary

§  Fermin Bocanegra, Director

o   Vote passed unanimously as presented

MANAGEMENT OF THE CHRISTIE VILLAGE FACILITY

·         There is no provision in the budget for management of Christie Village.  Omar/Jan Van Rooyen and Barbara/Harry  Freeman have been managing the facility.  We need commitment from the new board to help with this now that Omar has resigned.  Jan will continue on to do Occupancy and Marketing but will not be available to be on-site to help with check-ins and maintenance.

·         Bob Goldberg will explore an “off-site” reciprocal arrangement with Four Seasons.  Bob will contact Four Seasons while he is at Beech Mountain next week.

·         Other alternatives are to use Angela Crawford.  She has help several times over the past year and is willing to continue and be paid for time spent providing the services.

·         Barbara will continue to be on site for management, check-ins and maintenance (as much as her  time and abilities permit)

NEW BOARD CONTACT INFORMATION

Barbara will put together a directory of the names, addresses, email addresses, phone numbers of the new Board of Administrators and send to the board.

PLUMBING PROJECT

Christie Village continues to have water issues.  At any month the water bill can exceed the 42,000 gallons of water even though there has been little or no water consumption in the units.  All agreed this should not be.  Beech Mountain Utilities has proposed separate meters for each unit.  The approved assessment will fund this project.  We expect the cost to be $14,000-$16,000.  As soon as payments are received we should start on this before the winter freeze sets in.

RENOVATION OF 7A

·         Start of Renovation of 7A needs to get underway as soon as the dues start to come in.

·         Barbara has been shopping around for tile.  We also need carpet, hardwood or laminate for the floor.  Painting also needs to be done.  Other suggestions were also made.

·         Fermin said maybe he might be able to help with getting products, etc.

·         A donation of some lights, and 2 sinks has been made by an owner.  Hopefully this owner will be on site sometime in the next few weeks and can help with installation of these items.

PENDING ITEMS
Omar has several pending items he is working.  The new president should assume these items as soon as possible.

·         Name removed for privacy – Disgruntled owner Omar is working with

·         Name removed for privacy – Owner who is upset because he was turned over to the collection agency.

·         2 Windows that Lionel Hicks wants to install on the decks

·         Fire Alarms, Carbon Monoxide alarms, Fire Extinguisher (he will have Jan check with their local fire department about certifying these devices.  This must be done in the next month.

·         Omar will continue to maintain the web site for the time being

·         Jan will continue to do occupancy and Marketing

ITEMS FOR WHICH WE NEED TO FIND SOLUTIONS

·         Check signing – Barbara and Bob Goldberg will go to the bank and change the signature cards

·         Deed signing – New President or officer will need to assume these duties.

Meeting adjourned.





















































































































































































































These are the minutes of the Board Meeting held July 23, 2013




The second meeting of the Board of Administrators of Christie Village Condominium Co-Owners was called to order @ 1:06 PM EDT, on July 23, 2013. The meeting was held on site at Christie Village. In attendance were Omar Van Rooyen, President, Marvin Boots, Vice-President and Barbara Freeman, Secretary/Treasurer.
An agenda for the meeting had been emailed to the attendees prior to the meeting.

REVIEW OF EXPENDITURES
A report was presented by Barbara Freeman of the disbursements that had been made since June 24, 2013(copy attached), when the signature authorization were approved by the bank. These disbursements included utility bills, property insurance, accountant fees that were in arrears when previous Treasurer resigned. All utility bills are now current with the exception of the Beech Mountain Utility. There are two water/sewer bills each month. The smaller of these has been paid in full. Omar Van Rooyen has arranged with Robert Heaton for a 12-month installment of $590.59 to be paid along with each monthly bill. A copy of the agreement is attached.
Charter Communications (TV Cable) has been paid in full and the cable will be cut off until financial position improves. It was agreed this expenditure is not completely necessary for the time being. At such time as our finances improve, we will explore alternatives to Charter Communications.

FINANCIAL PROJECTION FOR 2013
A projection of expenses for 2013 was presented (copy attached). The projection for 2013 has been improved because of the efforts of the Collection Team (made up of Jan Van Rooyen, Dan DePaulis and Ann Scott which was implemented at the special meeting on June 22, 2013). Approximately $5,000 has been collected as a result of the campaign of telephone calling of members that were less than $1,000 in arrears. We estimate an additional $1,000 will be collected in August and September. We are expecting some additional expenses (over and above utility bills) that will be necessary for supplies and items to use in clean up and also to do some necessary repairs.

ACCOUNTING SERVICES
All deposit reconciliations were sent to the accountant for 2012 business year. Tax returns were signed by George Adams (previous advisory board member) and mailed before the deadline of the extension expired. The final reports were received showing a loss of $5,554 for 2012.
2013 charges for accounting services will be $125 per month as per Doug Tennant. Check stubs have been scanned and emailed to Shasta @ Combs, Tennant and Carpenter. 2013 deposit reconciliations will be completed and mailed as soon possible.

BANK SIGNATURE
Due to a US Mail problem the signature information for Marvin Boots did not arrive at First Citizens until the week July 18 (taking almost 3 weeks for arrival). All signatures are now valid for Omar Van Rooyen, Barbara Freeman and Marvin Boots.

PROGRESS AND PROBLEMS
ROOF
The major problem facing the Board of Administrators is the roof which is in very bad shape. This roof must be replaced before October 15 when the winter will set in. Many of the units have leaks and some units cannot be used because of water damage. Of course the big problem is NO MONEY for this repair. We must explore ways in which this repair can be financed. One possibility is that we can borrow the money from First Citizens Bank. Omar and Barbara have already talked to the bank manager, Clint Carroway, and he was positive and said “when we are ready, come to see him”. (Of course this is not a 100% approval, as paper work and credit worthiness still have to be determined.)

DECKS
Many of the decks outside the units are also in need of repair. Water from the third floor deck pours into the second floor decks which have faulty membranes and insufficient slope which cause leaks into the kitchens on the “A” units. Additional problems are: 1) the roof awning on the third floor is failing and has fallen off in one unit and 2) the gutters which drained much of the water are (in some cases) filled with debris or are missing causing most of the water to wash onto the decks. A complete redesign of the decks to eliminate this problem is necessary.

INSPECTION BY BEECH MOUNTAIN INSPECTOR
A building inspection by The Beech Mountain Inspector, John Merritt, was done on June 24. (A copy of the report is attached.) As a result he has decreed that three units, 1A, 4A and 6B not be occupied until repairs are completed. Additionally, we also have 2A, 5A and 6A that have mold and damages that make these units unable to be occupied.
It was stated that we must make an analysis to see if repairs are feasible due to the cost of the massive repairs.

REVIEW OF OWNER’S SUGGESTION
Several owners have submitted good suggestions that will be taken into consideration. Most are for badly needed cosmetic improvements. As soon as the Roof and Deck problems are addressed we will begin to implement some of these. Possibly a committee will be implemented to assist with this.

MARKETING DAILY, WEEKLY AND MONTHLY RENTAL RATES
The following rates were approved for rental of Christie Village units:
PER NIGHT(*) PER WEEK (Owner Family & Friends) PER WEEK (Other) MONTHLY (MINIMUM 1-yr LEASE)
WINTER
2-Bedroom $125 $325 $425
3-Bedroom $150 $400 $500 $800 (1st month +$800 deposit + utilities)(**)
SUMMER
2-Bedroom $90 $325 $425
3-Bedroom $105 $400 $500
*Any rental for period of 1 or 2 nights will require an additional $50.00 cleaning fee.
**A long term lease will require a credit application that must be checked out at the credit bureau. Marvin Boots will assist with this.
Jan Van Rooyen will investigate using one of the Realty Companies or Mountain Mike to help with marketing of Christie Village Rentals. We also hope to do some rentals ourselves through the website.

POLICY OF FORGIVENESS OF DUES FOR QUIT CLAIMS
Effective Jun 22, any past due amount will be treated as “due” and will be subject to Credit Bureau Reporting or Collection Agency (last resort) if not paid even if a Quit Claim has been filed. Only errors or extreme cases will be the exception.

DISPOSITION OF MARLA HATCH CLAIM
Marla Hatch’s attorney issued a letter stating that the Money Market account is the retirement account that was given to Marla Hatch by a previous board. No minutes or documentation exists supporting this claim. Minutes of June 22, 2013 meeting addressed this situation. A response to this letter was issued by our attorney, Tyler Moffatt, denying her claim.

OPTIONS FOR SURVIVAL
Omar has issued a document “Options for Survival” detailing the options forward for Christie Village. (See Attached Copy). They are:
• Dissolution (could be final option)
• Demolition (Cost and who pays)
• Rehab and Renovate (New roof necessary, Decks replaced, renovate interiors)
• Financing for repairs
o How do we pay, increase dues, assessment (which must be for a defined project), aggressive recovery of delinquent maintenance fees)
o Possible sale of unit(s)

DISCUSSION OF BIDS FOR REPAIR WORK
One bid from Fall Creek Construction & Building Maintenance has been received. This bid includes roof with architectural shingles, roof with metal shingles and Grounds cleanup. Another bid will be coming from Tony Parker Roofing. More bids could be sought. A decision will be made within the next 30 days so that work can begin (once financing is obtained) before winter sets in.

DISCUSSION OF SALE OF UNITS
One possible option for obtaining money for the much needed repairs is to sell one or two of the units. The membership is such that occupancy for our current membership (which is about 160+/- paying members) can be done even without two units. To accomplish this, the unit with the least amount of members will be offered a different unit. For example, if we sell Units 6A and 6B, these owners will be offered units in a different building. A potential buyer is being sought. A price for the units is being explored. Using one-seventh of the tax value would be $110,000. Prices of condominiums in the area or a per square footage price, etc. all will be considered. Questions to be answered, which unit and how much?

EVERYONE KNOWS ONE
This is a marketing program idea by Jan Van Rooyen. If everybody can recommend one person that will buy a “right to use” program for two years that could potentially be an amount that will solve our 2014 and 2015 budget problems. Of course the units have to be “rentable” and available. Sounds exciting and will be presented at the Sept. 14 POA meeting.

RECRUITMENT OF NEW BOARD MEMBERS
Number of board members was discussed. Omar recommends five. Names that could be presented at the Sept 14 meeting were discussed. We do have several that are interested in serving. Motion was made and accepted to go with 5 names to present at the meeting.

SHARING OF MANAGEMENT DUTIES
Much help is needed for the continued maintenance and cleanup. Most of this responsibility has been shared by Omar & Jan Van Rooyen and Harry & Barbara Freeman. With a hands-on board that will be elected, more could be available to share the duties.
Angela Crawford will be retained to do cleaning. A list of duties has been given to her. These duties would mean that a more thorough cleaning id done after each guest departs. Angela’s services could be used for clerical duties in the office for up to 4 hours per week.

SEPT 14, 2013 POA MEETING
An Agenda for the meeting will be prepared.
Venue for the meeting will be at Christie Village (possibly in a tent in the parking lot). A cookout after the meeting will be considered.
A letter to announce the meeting, a proxy will be included and possibly a survey to get feedback from the members will be sent together to save postage.

Motion to adjourn was made at 5:24 PM EDT.
 



















































































































































These are the minutes of the Board Meeting held June 22, 2013



MINUTES OF THE BOARD OF ADMINISTRATORS
OF
CHRISTIE CONDO CO-OWNERS ASSOCIATION

JUNE 22, 2013


This was the first meeting of the Directors elected at the Special Property Owners Association Meeting of the CHRISTIE CONDOMINIUM CO-OWNERS ASSOCIATION held earlier in the day. The Board is comprised of three members: Marvin Boots, Barbara Freeman, and Omar Van Rooyen. Barbara and Omar were present at the meeting; Marvin Boots was unavailable. The two members present constituted a quorum of the Board. Present at the Board meeting were owners John Garrett, Jr. and Jeff Tucker, who were interested in observing and offering advice and comments.

The meeting was convened at 5:12 pm by Omar Van Rooyen who stated that the first order of business must be to elect Officers from among the Board members. Omar moved that he be nominated as President, that Barbara be nominated as Secretary and Treasurer, and that Marvin Boots be nominated as the Vice President. Barbara seconded. These nominees were unanimously elected by the officers present.

Omar Van Rooyen was elected as President of the Association
Marvin Boots was elected as Vice-president of the Association
Barbara Freeman was elected as Secretary and Treasurer of the Association

As the next order of business, the Board passed a Resolution naming Omar Van Rooyen and Barbara Freeman as signatories on the Association’s bank accounts at First Citizens Bank. A copy of the resolution is attached to these minutes.

Omar moved that the under-construction website be approved as the official CV website and that it be updated as often as time is available

Omar moved that the Watauga County Inspector be allowed to enter the property to inspect for mold and to provide a report to the owners.

Omar moved that the Association name a new Registered Agent with the Secretary of State of North Carolina, and that Barbara Freeman be named as the Agent.

The above three motions were unanimously passed by the officers present.

Since Marvin Boots was not able to attend the meeting, Omar and Barbara will reach Marvin and discuss his role with him and bring him up to speed on today’s events.

The Board decided on a tentative date for the next regular POA meeting as Saturday, September 14. This date is tentative but will be publicized as a “Save the Date” to all of the owners in the hope that everyone can attend.

There being no other business, the Board Meeting was adjourned at 5:30 pm
Recorded by Paul Hansil


Approved by Barbara Freeman

Board Resolution

CHRISTIE CONDOMINIUM CO-OWNERS


Certified copy of the relevant extract from the minutes of the Meeting of the Board of Directors of CHRISTIE CONDOMINIUM CO-OWNERS (also known as CHRISTIE VILLAGE CONDO CO-OWNERS, INC.) held on June 22, 2013 at Beech Mountain, NC.

After discussion, the Board passed the following Resolution:

Resolved that in order to manage the Association’s financial affairs, the following officials be and are hereby authorized, jointly and severally, to enter into financial transactions on behalf of the Association with First Citizens Bank.

1. Name Barbara Freeman
1. Designation Secretary/Treasurer
2. Name Omar Van Rooyen
2. Designation President

The said board members are hereby further authorized to maintain signing authority on all checking, savings, and other financial accounts on behalf of the Association and for such purpose to execute contracts and other documents and commitments as may be necessary.

Resolved further that First Citizens Bank may rely on this Resolution until receipt of a certified copy of a resolution specifically revoking or modifying this Resolution.

The Secretary of the Association certifies that the above is a true and correct copy of the resolution that was duly adopted at a meeting of the board of directors on June 22, 2013.


___________________________ June 22, 2013
Signature of Secretary Date

Barbara A. Freeman
Printed name of Secretary
 





 



















































































The following is a transcript of the Board Meeting held November 6, 2013


Board of Directors Meeting
MINUTES
NOVEMBER 6, 2013
9:00 PM
CONFERENCE CALL/VIRTUAL VISUAL

MEETING CALLED BY
President-Omar Van Rooyen

ATTENDEES
Omar Van Rooyen, Barbara Freeman, Joe Stegall, David Fields,
Robert Goldberg (limited due to phone problems)

Financial Report by Barbara Freeman. A little over 18K revenues collected (25-30 checks collected).  Over 6K spent for a net income of $12,758.74. $8,400 due in January 2014 for property taxes.  Expenses included drawings by contractor required by city to meet specs, utilities, repairs, supplies, etc.  Money market is >5K.

Quit Claims - Back to 2013 12 A Units (negative $3900), 16 B units (negative $6400).
May never collect some of these monies for various reasons

TBMA Conference—Collections do work. Industry standard for delinquencies are 8% where CV is much higher.

Owner who had made offer to buy a unit at CV had to rescind offer due to pressing health problems

Need loans of at least $50K from either First Citizens or Highland Union. Very conservative banks don’t have very positive outlook to acquire loans.

Major Repairs- 20K per building by Von Construction (Von Hughes) for roof extensions, second deck repairs and drywall in A unit kitchens. Omar commented that it was a bit of a high estimate. Barbara commented that it covered a lot of work (fixing ceilings and rafters in ceiling, replace materials, sheetrock. Only thing left for us to do after work would be replacing cabinets and paint. Membranes alone would be approximately 2K. Need a more detailed estimate after Christie Village can better show funding for projects.

Omar commented that there were several projects in need of action
1) Put on roof extensions and roofs.  Each building's roof extension must be put on before the roof to avoid double work.
2) Second Decks one at a time (as money becomes available)
3) Repairs to A Unit kitchens

Omar commented that the dues coming for this year would only pay taxes, utilities and normal upkeep.
Barbara mentioned that the assessment's would bring in an additional 16K.

Omar asked: How/where can CV obtain funds for upgrades
1) Putting unit(s) up for sale. All owner titles would have to be cleared for said unit.
Could try and contact unresponsive owners to try and buy back deeds. Those who do not respond would be noted as part of a legal effort to show a responsible effort on CV’s part to contact them. Court may grant rights of deeds back to CV
2) Contacted collection agencies for possible future employment. Quoted $6.98 per unit. Benefits include actual collections and actual deeds. More investigation into collection agencies needed.
3) Contact owners for yearly assessments (more quit claims as outcome for additional assessments)

Omar asked about additional future assessments. Made the point about these are only yearly assessments (next one could be done in Sep 2014). Mixed comments. Barbara stated that the loan possibility, collections, and sell of unit might preclude for such a need. But….if needed….Barbara and David spoke in favor of such. Tabled assessments for future discussions. Investigate collections first before considering assessment.

Staffing of office. None at present. Jan & Omar, Barbara & Harry manned office for 6 months. Angela a possibility for fill in. Another possibility is Board of Directors splitting up time to fill office duties. Joe stated that Angela was a good alternative. Another possibility is to have a couple live at CV rent-free. David offered time for fill-in for December. Omar suggested hat Angela could be paid per hour for supplemental Friday office work to check in owners. Discussion followed - agreed that Angela could be used per job instead of per hour. Need to work out pay structure.

How much to charge for owners. $50 cleaning fee….good or bad? Joe stated that he didn’t agree with cleaning fee.  Clarification by Jan stating that Joe was in favor of giving the renters an overall fee that includes everything.  David agreed that cleaning fee should be taken off of all rates. Joe asked that authority be given to Omar to set rates. Motion made by Joe, seconded by David to set future rates. Motion approved. Rental rates will be a total amount which will include the cleaning of the unit. 12.75% occupancy tax must be added and paid by renter.

Meeting adjourned. Minutes taken and submitted by David Fields, Secretary, Christie Village
 









































































 

Christie Village Board of Administrators Board Meeting Minutes, April 9, 2014

Via Conference Call/Virtual Visual

Attendees:  Omar Van Rooyen, President; Joe Stegall, V.P., Barbara Freeman, Treasurer, David Fields, Secretary, Robert Goldberg, Director – 5 of 5 Board members participated

Agenda Topics:

Financial Report: Barbara Freeman, Treasurer

-          $70k in checking account available for use for exterior renovations, new roof/decks

o   Additional funds available in CD if needed; prefer not to use

-          Aspen Collections contracted to do collections of past due accounts

o   Anticipate at least $20k to be realized from collections efforts, 1st wave

o   Additional past due accounts to be submitted to Aspen, ongoing

Update on Roof Contractors bids: Omar Van Rooyen, President

-          Discussion followed on urgency to begin roof project as soon as weather permits

-          Discussion on merits of the 3 contractors who have bid on project

-          Discussion followed on necessary additions to the contract to include work on 1st and 2nd floor decks, coping for the rooftop, extra flashing, additions to the height of the railings to comply with local building codes

-          Discussion on involvement and assistance of Beech Mt. City Inspector, John Merritt

-          Motion made by Stegall, seconded by Fields to give Omar flexibility to make decisions/final award of roof contract

o   Update, April 21st- roof contract awarded to Parker Roofing, Marion NC

Discussion on pending plumbing project: Omar Van Rooyen/Barbara Freeman

-          Placed on hold until new roof installed and deck renovation completed

Discussion on oversight needed for ongoing projects- All

-          Need for current Board Members to Volunteer time onsite

Motion made by Freeman to adjourn meeting; seconded by Fields, meeting adjourned




The following is a transcript of the
 Board Meeting held October 28, 2006

 


Christie Village
Board of Directors Meeting
October 28, 2006

The meeting was called to order at 10:35 by President Don Sizemore.


Marla Hatch and George Adams led a discussion of all budget items, including a discussion of Beech Mountain Club dues. Marla will research alternatives to reduce this major budget line item.


General maintenance problems were discussed. The most significant repair items are deck leaks that must be repaired to prevent damage to the “A” units below; window leaks that must be repaired, and carpeting needing replacement. This will result in a significant increase in budgeted amounts for maintenance items in the proposed budget.


The Board developed a Proposed Budget for the ensuing year, including a maintenance fee increase of 5% consistent with the current national CPI, raising “A-Units” from $286 to $299 per year, and “B-Units” from $354 to $372 per year. Review of the enclosed budget will show a budgeted shortfall of $28,486, which hopefully will be made up with additional non-owner rentals. It should be noted that our maintenance fees are still significantly below the national timeshare averages. In-House exchanges will incur a $25 fee.


The meeting was adjourned at 1:30pm.


Respectfully submitted,


DORINDA L. LOWERY

Secretary

Christie Village
Proposed Budget
01 Oct 06 -01 Sep 07
2005/2006 2006/2007
Proposed
EXPENSES Budgeted Actual Budget
Accountant Fee 2,000 2,022 2,000
Beech Mtn Club, Dues & Publications 12,000 13,860 15,000
Bank Card Fees 300 790 500
Bank Fees/Service Charges 50 30 50
Donations 300 200 200
Insurance, Health 3,600 4,000 4,000
Insurance, Building 6,500 5,184 6,000
Maid Service 6,000 5,435 7,500
Maintenance, Inside 6,000 3,760 7,500
Maintenance , Outside 11,000 2,800 20,000
Rentals 250 250 250
Repairs 250 250 250
Supplies, General 1,000 370 500
Supplies, Housekeeping 1,500 1,530 1,500
Taxes, City and County (Property) 6,100 6,000 6,000
Taxes, Payroll 3,300 3,000 3,000
Taxes, Federal Income 5 5 5
Taxes, State Income 5 5 5
Utilities, Cable 6,400 6,500 6,500
Utilities, Electric 25,000 21,700 25,000
Utilities, Phone 4,200 6,500 6,500
Utilities, Water & Sewer 6,000 9,300 9,500
Wages/Salaries, Manager 28,350 32,300 33,915
Wages/Salaries, Housekeeper 18,900 7,100 10,000
Capital Outlay 500 615 500
148,910 131,134 161,575

INCOME
"A" Units (from owners)(current rates) 48,433 46,356 50,855
"A" Units (from rentals) 1,000 1,617 1,500
"B" Units (from owners)(current rates) 72,128 66,561 75,734
"B" Units (from rentals) 1,500 5,509 5,000
121,561 120,043 133,089

Net Difference (27,349) (11,091) (28,486)

Christie Village
Board of Directors Meeting
October 28, 2006
 

The meeting was called to order at 10:35 by President Don Sizemore.

 

Marla Hatch and George Adams led a discussion of all budget items, including a discussion of Beech Mountain Club dues.  Marla will research alternatives to reduce this major budget line item.

 

General maintenance problems were discussed.  The most significant repair items are deck leaks that must be repaired to prevent damage to the “A” units below; window leaks that must be repaired, and carpeting needing replacement.  This will result in a significant increase in budgeted amounts for maintenance items in the proposed budget.

 

The Board developed a Proposed Budget for the ensuing year, including a maintenance fee increase of 5% consistent with the current national CPI, raising “A-Units” from $286 to $299 per year, and “B-Units” from $354 to $372 per year.  Review of the enclosed budget will show a budgeted shortfall of $28,486, which hopefully will be made up with additional non-owner rentals.  It should be noted that our maintenance fees are still significantly below the national timeshare averages.  In-House exchanges will incur a $25 fee.

 

The meeting was adjourned at 1:30pm.

 

Respectfully submitted,

 

DORINDA L. LOWERY

Secretary

        Christie Village      
        Proposed Budget      
        01 Oct 06 -01 Sep 07      
          2005/2006   2006/2007
                Proposed
EXPENSES     Budgeted Actual     Budget
Accountant Fee     2,000 2,022     2,000
Beech Mtn Club, Dues & Publications 12,000 13,860     15,000
Bank Card Fees     300 790     500
Bank Fees/Service Charges   50 30     50
Donations     300 200     200
Insurance, Health     3,600 4,000     4,000
Insurance, Building     6,500 5,184     6,000
Maid Service     6,000 5,435     7,500
Maintenance, Inside   6,000 3,760     7,500
Maintenance , Outside   11,000 2,800     20,000
Rentals       250 250     250
Repairs       250 250     250
Supplies, General     1,000 370     500
Supplies, Housekeeping   1,500 1,530     1,500
Taxes, City and County (Property) 6,100 6,000     6,000
Taxes, Payroll     3,300 3,000     3,000
Taxes, Federal Income   5 5     5
Taxes, State Income     5 5     5
Utilities, Cable     6,400 6,500     6,500
Utilities, Electric     25,000 21,700     25,000
Utilities, Phone     4,200 6,500     6,500
Utilities, Water & Sewer   6,000 9,300     9,500
Wages/Salaries, Manager   28,350 32,300     33,915
Wages/Salaries, Housekeeper   18,900 7,100     10,000
Capital Outlay     500 615     500
        148,910 131,134     161,575
                 
INCOME                
"A" Units (from owners)(current rates) 48,433 46,356     50,855
"A" Units (from rentals)   1,000 1,617     1,500
"B" Units (from owners)(current rates) 72,128 66,561     75,734
"B" Units (from rentals)   1,500 5,509     5,000
        121,561 120,043     133,089
                 
Net Difference     (27,349) (11,091)     (28,486)


Financial Statements 

 

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