Boundary Business Center Condominium

What Boundary Business Center Condominium's governing documents say

Boundary Business Center Condominium is a commercial condominium in Wilmington, NC — you own a unit (for general office use) and share ownership of common elements, which the association maintains and insures. This declaration governs unit owners and occupants, including lessees.

• What you own & maintain: You own your unit's interior (including interior surfaces, partitions, and in-unit HVAC components) and any limited common elements like balconies or patios. The association maintains common elements and provides water/sewer; you must maintain your unit and pay for repairs caused by you or your occupants.
• Use restrictions: Units may be used for general office purposes and other uses permitted by zoning and approved by the board. No advertising signs, billboards, or nuisances without board approval. Nothing may increase insurance rates or cause cancellation.
• Leasing & rentals: Leases must be in writing and state that the lease is subject to the declaration, bylaws, and rules. Lessees must comply with all condominium documents; failure is a lease default.
• Assessments & fees: Assessments are levied per unit based on square footage. Unpaid assessments accrue a $150 late fee after 30 days and 18% annual interest, plus costs and attorney's fees, and become a lien on the unit.
• Insurance: The association carries casualty insurance on the property (100% replacement cost) and public liability insurance (at least $1,000,000 per occurrence). Unit owners may carry their own policies.
• Alterations & common elements: No unit owner or occupant may alter, construct on, or remove anything from common elements without board approval. Units may be altered per the bylaws and state law.
• Access & entry: The association may enter units for maintenance or emergencies (with notice if possible). Unit owners must allow other owners entry for repairs when reasonably necessary.

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.