Bradley Square Condominium

What Bradley Square Condominium's governing documents say

Bradley Square Condominium is a condominium community in Wilmington, NC — you own your individual unit and share ownership of the building's common elements, which the association maintains and insures. This document is the full Declaration of Condominium, which establishes the legal framework for the community, including unit ownership, common elements, assessments, and use restrictions.

• What you own & maintain: You own your unit's interior (including interior surfaces, fixtures, and portions of HVAC within the unit). The association maintains the common elements (shared areas, building exterior, etc.) and carries master casualty and liability insurance. Unit owners must maintain their own units and any limited common elements (e.g., balconies, patios, attic storage).
• Use restrictions: Units may be used for general retail or office purposes, and incidental uses consistent with a first-class shopping center. No advertising signs, billboards, or nuisances without board approval. Nothing may be done that increases insurance rates or causes cancellation.
• Leasing & rentals: Leases must be in writing and must state that the lease is subject to the condominium documents. Lessees must comply with all rules. No minimum lease term is specified in this document.
• Assessments & fees: The board levies assessments for common expenses. Assessments are due annually in advance. Unpaid assessments accrue a $250 late fee after 30 days and 18% annual interest, and become a lien on the unit. The first assessment starts the month after the first unit is conveyed.
• Pets: This document does not address pets. The board may adopt rules and regulations regarding pets.
• Alterations & improvements: No unit owner may alter common elements without board approval. Unit alterations are subject to the bylaws and the Act. The board may adopt rules for unit modifications.
• Insurance: The association must maintain casualty insurance at 100% replacement cost and liability insurance of at least $1 million per occurrence. Unit owners may obtain their own policies for personal property and additional coverage.

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.