Audubon Station

What Audubon Station's governing documents say

Audubon Station is a condominium community in Wilmington, NC, with 7 units in two buildings. Units are restricted to non-residential use—general office, professional, and institutional uses only. This declaration governs unit owners, who own the interior spaces and share common elements maintained by the association.

• Use restrictions: Each unit is limited to general office, professional (medical, dental, legal), banking, mortgage, and other institutional uses. No residential use is allowed.
• What you own & maintain: You own the interior of your unit (walls, floors, ceilings, HVAC, wiring, plumbing serving only your unit). The association maintains common elements (exteriors, roofs, structural components, common areas). Limited common elements like exterior doors, windows, and signage are assigned to your unit but maintained by the association, with costs assessed to your unit.
• Leasing & rentals: All leases must be in writing and comply with the condominium documents. Tenants must recognize the association's right to enforce rules. No minimum lease term is stated.
• Alterations & approvals: Structural changes, exterior alterations, or changes affecting common elements require prior written board approval. Interior non-structural changes generally do not, but penetrating exterior walls or roof needs permission.
• Assessments & fees: Common expenses are assessed per unit based on the allocated interest (percentage of heated/cooled area). Assessments are due quarterly (or as set by board). Late payments bear 12% annual interest. A working capital fee of two months' dues is required from initial purchasers.
• Parking: Parking spaces may be allocated as limited common elements or assigned by rules. The association can set towing and parking violation rules.
• Insurance: The association carries property insurance on the building (excluding interior finishes and HVAC, which are your responsibility) and liability insurance (minimum $1 million). You are responsible for your own unit's interior, HVAC, and window glass (except for fire or perils covered by the association's policy).
• Amendments & governance: Amendments to the declaration require 67% of unit owner votes. Bylaws can be amended by 51% of the board. Unanimous consent is needed to change unit boundaries, allocated interests, or use restrictions.

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.