St James Square Office Park Condo

What St James Square Office Park Condo's governing documents say

St. James Square Office Park Condominium is a commercial condominium in Bolivia, NC — you own an office unit within a two-story building, and the association maintains the common elements. All units are restricted to non-residential use (office and institutional only). This declaration is the full rulebook for unit owners, tenants, and occupants.

• What you own & maintain: You own the interior of your unit (including HVAC systems that serve only your unit) and must maintain it at your own expense. The association maintains all common elements, including exterior surfaces, and carries master property and liability insurance.
• Use restrictions: Units may only be used for general office and professional purposes (e.g., medical, legal, banking) and other institutional uses permitted by zoning. No residential use is allowed.
• Leasing & rentals: All leases must be in writing and comply with the condominium documents. Tenants must recognize the association as landlord for enforcement of rules, after the association gives the owner notice and a chance to cure.
• Alterations & approvals: No structural additions or exterior changes (including signage) may be made without prior written approval from the executive board. Interior non-structural alterations that don't affect structural integrity or mechanical systems are allowed without approval.
• Signage: Only letter signage of an approved size may be affixed to the exterior door serving your unit or to designated limited common areas. No other exterior signs, displays, or window signage are allowed without board consent.
• Assessments & fees: Common expenses are assessed quarterly based on each unit's percentage interest (based on heated/cooled floor area). Assessments are due on the 1st of the month and payable by the 10th; unpaid amounts accrue 12% annual interest and become a lien after 30 days. Initial purchasers pay two months' dues as working capital.
• Insurance: The association carries property insurance on the building (replacement cost) and liability insurance (minimum $1 million). Unit owners are insured for liability arising from common elements. Owners may obtain their own policies. Glass breakage from inside or due to owner negligence requires the owner to pay the deductible.
• Parking: Parking is provided in surface spaces on the property, with rules (including towing and designated areas) set by the association. Parking spaces may be allocated as limited common elements in the future.

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.