Ocean Lakes

What Ocean Lakes's governing documents say

This is a condominium declaration for 4434 Flagship Avenue (a Condominium) in Ocean Lakes, Bolivia, NC. It creates a two-unit condominium and governs the rights and obligations of unit owners, including use restrictions, assessments, and association powers. The document is the full rulebook for this small condominium community.

• What you own & maintain: You own your unit's interior (walls, ceilings, floors to unfinished sheetrock). The association maintains all common elements and limited common elements (patios, entries, AC pads) and carries master property and liability insurance.
• Leasing & rentals: Leases must be in writing, for at least 90 days, and require the tenant to follow all governing documents. No hotel or transient use is allowed.
• Pets: Dogs, cats, or other household pets are allowed but not for commercial purposes. They must be confined to the unit or leashed when outside.
• Occupancy limits: Maximum occupants per unit is the number of bedrooms times two, regardless of age, or the local ordinance maximum, whichever is less.
• Assessments & fees: Regular assessments are levied equally per unit. Special assessments require a 2/3 vote of all units. Initial assessment equals 7 months' regular assessment. Late fees and 12% interest apply. Fines for violations cannot exceed $100 per occurrence.
• Use restrictions: Units are for residential use only. No commercial activities, no subdivision of units, no noxious activities. Window coverings must appear white or off-white from outside. Only 'for sale' or 'for rent' signs are allowed.
• Association & voting: Each unit gets one vote. Annual meetings are in August. A quorum for special meetings is 20% of units. Budgets are ratified unless rejected by a majority of units.

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.