Vireo Condominium

Key facts from Vireo Condominium's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title and throughout)

Legal name

Vireo II Condominium Owners Association, Inc. (Section 1.8, Background Statement)

Units / lots

4 (Units 916-A, 916-B, 918-A, 918-B) (Background Statement, Article 4.2)

Developer / declarant

Vireo CLT, Inc., a North Carolina corporation (Declaration opening paragraph)

Governing law

North Carolina Condominium Act (Chapter 47C of the North Carolina General Statutes) (Section 1.19)

Assessments & dues

Set by Executive Board; not fixed in documents (Bylaws Section 8.1)

Special assessments

Defined in Bylaws Section 8.2 (Section 1.45)

Collections & liens

Assessments unpaid for 30 days become a lien on the Unit; lien subordinate to first mortgages; foreclosure extinguishes lien for pre-foreclosure assessments. (Section 8.2)

Reserves & fees

Common Expenses include allocations to reserves (Section 1.16). (Section 1.16)

Leasing & rentals

Yes, but minimum lease term is 6 months. Lease must be in writing and include provisions requiring tenant compliance with Condominium Documents, default termination right, and security deposit of 30% of monthly rent paid to Association. Cop (Section 7.7)

Home business

Home office use allowed but no visits by customers or vendors (except occasional repair calls). (Section 7.1(ii))

Signs & flags

Regulated/prohibited; no display without approval, including US and NC flags. (Section 7.14; front-page notice)

Maintenance

Association (exterior of all Buildings includes roof). (Section 5.4(a)(1))

Use restrictions

Each Unit shall be used only for residential purposes, except (i) Declarant/Association may use owned Units as sales offices, management offices, model units; (ii) an Owner may use Unit for home office but without customer/vendor visits exc (Section 7.1)

Voting & meetings

Presence in person or by proxy of 25% of the votes (Bylaws Section 4.2 ("the presence in per)

Amendments

General amendment provisions in Section 14.1. Declarant has unilateral amendment rights (Section 14.2). Additions to Condominium via Supplemental Declaration (Section 14.3). (Article 14)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.