Mooresville Business Park East Property Owners Association, Inc.

Key facts from Mooresville Business Park East Property Owners Association, Inc.'s documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Business Park (industrial, business, commercial uses) (Article 2 – APPLICABILITY: 'These Restri)

Units / lots

Unspecified number of lots. At least one numbered lot (Lot 2) is referenced. Future lots will be created by plat. (Recitals: 'Developer sold Lot 2 of the B)

Governing law

North Carolina General Statutes (nonprofit corporation law) (Preamble: 'pursuant to the North Carolin)

Assessments & dues

Maximum of $50.00 per acre owned by each Owner (until January of the year after first Lot conveyance). Thereafter, can be increased up to 5% per year without vote, or more with 2/3 membership vote. (Article 6.2: 'the maximum Annual General)

Special assessments

May be levied for any reason provided in the governing documents. Maximum at any one time: $200 per acre owned by each Owner. Can be levied by majority vote of Board or members. Also can be assessed against specific Lots for non-compliance (Article 7: 'The maximum Special Assessme)

Collections & liens

Unpaid assessments (general or special) become a lien on the Lot after 30 days. The Corporation may record notice, file suit, foreclose lien, or bring personal action against the Owner. The lien is subordinate to first mortgages. Foreclosur (Articles 6.5, 8: 'Any general or special)

Reserves & fees

Common Expenses include 'any reasonable reserve' as determined by the Board. (Article 1.7: 'Common Expenses means and )

Pets

Not specifically addressed. However, certain uses are prohibited including 'commercial or private raising or slaughtering of poultry, livestock or swine', 'feeder lots', 'rearing of any other birds, fish, insects, mammals, reptiles', and 'a (Article 13.1(e) and (f) list prohibited )

Leasing & rentals

Yes, not prohibited. Owners may lease Lots for permitted industrial/business/commercial uses. The Declaration does not restrict leasing but requires compliance with all restrictions. (Implicitly allowed; uses are commercial.)

Parking & vehicles

Prohibited on streets shown on any Plat. (Article 13.4: 'No parking will be allowe)

Fences

Fences subject to approval by the Committee. No fence shall be located closer to the street than the street-side front of any building on the Lot. (Article 13.10(a): 'Fences shall be subje)

Architectural approval

Yes, for construction, alteration, grading, landscaping, or structural work. Plans must be submitted to Architectural Review Committee (ARC) before commencing. Also approval needed for fences, signs, storage, etc. (Article 12.2: 'before initiating any con)

Setbacks / home size

Minimum building setback lines as required by the Town of Mooresville and as depicted on any Plat. No above-grade structure (except approved fences/walls) may be constructed in front of those lines. Also, paved areas (driveways, parking) ca (Article 13.3: 'No above-grade structure )

Maintenance

Not explicitly allocated; presumably Owner responsibility (part of building maintenance). (No specific provision; general maintenan)

Use restrictions

Prohibited uses include businesses that produce substantial gases, smoke, odors, noises unsuitable for a high-quality business park. Also prohibits discharges of dust, dirt, noxious gases, hazardous materials, or wastes that adversely affec (Article 13.1(r): 'Businesses which may p)

Voting & meetings

One vote per acre of land owned, with partial acres rounded to nearest quarter acre. Each Lot Owner is a member. When multiple owners hold a Lot, they collectively determine the vote. (Article 3.4: 'Each member shall be entit)

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