Hyde Park III Condominium

Key facts from Hyde Park III Condominium's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Section 1.10)

Developer / declarant

Hyde Park III, LLC, a North Carolina limited liability company (Preamble)

Governing law

North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes (Preamble; Section 1.1)

Assessments & dues

Board levies assessments for Common Expenses as per budget. (Article VI and Bylaws)

Special assessments

Awnings may be separately assessed to individual Store Front Unit Owners as a special assessment (Section 2.6(g))

Collections & liens

Assessments are a lien; may be foreclosed per N.C.G.S. 47C-3-115/116. (Section 6.1)

Reserves & fees

Common Expenses include allocations to reserves (Section 1.8). (Section 1.8: Common Expenses... together)

Leasing & rentals

Yes, with prior Board consent (not to be unreasonably conditioned, delayed, or withheld); Board has 10 days to reject or approve (Section 5.7)

Parking & vehicles

Limited Common Element parking for Store Front Units (46 spaces plus 4 handicap). Non-exclusive with max per unit (e.g., Unit 201: 6 spaces). Also 20-foot deep area in front of each unit for temporary parking (max 3 vehicles, while unit occ (Sections 2.6, 5.25(e), 5.25(f))

Architectural approval

Yes, for exterior alterations, alterations to Common Elements, and for signage; Board approval required; Declarant approval during Declarant Control Period (Section 2.5(c), 5.5, 5.22)

Home business

Permitted in Storage Units with restrictions: max 5 customer visits per business day (monthly average) and max 3 workers at any one time (Section 5.25(c))

Signs & flags

Store Front Units allowed limited signage: single non-illuminated sign above unit (per rules), one color vinyl on main entrance door (max 40% of entry area); no hanging/protruding signs, banners, temporary signs, roadway signs, or feather f (Section 5.5)

Voting & meetings

Each Unit Owner has a percentage of the total 100 votes equal to the percentage of undivided interest in Common Elements as set on Exhibit C (Section 2.7, 2.8)

Amendments

Referenced in Article XIII (text not provided) (Table of Contents)

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