Marina at South Harbour Village Condo

What Marina at South Harbour Village Condo's governing documents say

Marina At South Harbour Village is a condominium community in Bolivia, NC, consisting of 140 wet slip boat slips (Units) that you can own individually. The association maintains the common elements (docks, pilings, water areas) and carries master insurance. This is a marina—you own a slip for mooring a single, noncommercial pleasure boat, not a residence. The community is also subject to a Master Association (South Harbour Master POA) and a Master Declaration.

• What you own & maintain: You own a Wet Slip Unit—a defined volume of water and air (from 10 ft below to 70 ft above mean sea level) for mooring a boat. The slip does not include the submerged land or any improvements (docks, pilings), which are Common Elements maintained by the association. You are responsible for your boat and its compliance with rules.
• Boat & slip use restrictions: Each slip is limited to one single, self-propelled, noncommercial pleasure boat and its tender. No live-aboard, houseboat, floating home, barge, or seaplane allowed. The boat must fit within the slip boundaries (with up to 10% overhang), be fully operable, seaworthy, and equipped with required safety gear and a sanitary holding tank. No improvements may be built in the slip by the owner.
• Leasing & rentals: There is no minimum lease term. Leases must be in writing and state they are subject to the condominium documents. A copy of the lease must be provided to the association upon request. Owners that are entities must designate an individual user annually.
• Pets: The document does not address pets in the excerpt provided.
• Architectural review: No exterior alterations to a Unit (including painting, antennas, satellite dishes) or changes to Common Elements (fences, gates) may be made without prior written consent of the association. All improvements are also subject to approval by the Master Association's Architectural Control Committee.
• Assessments & fees: Assessments are levied per Unit based on allocated interests. The initial annual assessment covers Common Expenses; the board may increase it annually without a vote. A working capital fund of $100 per Unit is paid at first sale. Delinquent assessments accrue 18% annual interest and late charges. The association has a lien on the Unit for unpaid assessments.
• Insurance: The association must maintain property insurance on Common Elements (at least 80% replacement cost), liability insurance ($1M minimum), flood insurance, and fidelity coverage. Each owner may obtain their own insurance for personal property and liability.
• Right of first refusal: Declarant (developer) has a right of first refusal for any sale of a Unit within five years of the owner's acquisition. The owner must provide a copy of any bona fide offer; Declarant has 30 days to match the terms and close within 10 business days.

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