Corporate Drive South

What Corporate Drive South's governing documents say

Corporate Drive South is a commercial subdivision in Wilmington, NC, governed by a homeowners' association (Corporate Drive Owners' Association, Inc.). This declaration applies to Lots 1–18 and is primarily focused on stormwater management, with the association's main purpose being to maintain stormwater facilities. It also incorporates a 'Parent Declaration' from 1990 that contains additional use restrictions, architectural control, and landscaping rules. This document is for commercial lot owners, not residential homeowners.

• What this document covers: This declaration establishes an association to own and maintain stormwater facilities on common areas, imposes built-upon area limits per lot (ranging from 500 to 34,900 sq ft), and requires compliance with state stormwater regulations. It also references a Parent Declaration for additional lot use restrictions, architectural control, and landscaping rules.
• Association membership & voting: Every owner of Lots 1–18 is a member. Class A members (non-declarant owners) get one vote per lot; Class B (declarant) gets three votes per lot until Class A votes equal Class B or January 1, 2007. Lots 1A, 2A, 5A, 6A, and 11A are not members and do not pay assessments.
• Assessments & fees: Annual and special assessments are levied uniformly per lot to fund stormwater facility maintenance, insurance, and administrative expenses. The board sets amounts; increases over 10% require two-thirds owner approval. Unpaid assessments bear 18% interest, plus late fees (minimum $10/month), and can become a lien on the lot.
• Built-upon area limits: Each lot has a maximum built-upon area (e.g., Lot 1: 27,000 sq ft, Lot 18: 24,400 sq ft). Built-upon area includes structures, pavement, and walkways but not open wood decking. Lots 1A, 2A, 5A, 6A, and 11A currently have zero impervious surface allowance and must obtain a state permit before any construction.
• Stormwater & drainage obligations: Owners must maintain drainage easements on their lots; the association maintains easements on common areas. Alteration of drainage requires state concurrence. No filling or piping of roadside or lot-line swales except for minimum driveway crossings.
• Insurance & management: The association must carry public liability insurance of at least $1,000,000 on common areas and fidelity bonds for those handling funds. It may contract with a professional management agent.
• Duration & amendments: The covenants run for 50 years from recording (1998), then auto-renew for 10-year periods. Amendments require a majority vote of lot owners, with written notice at least 10 days in advance, and must be recorded.
• What this document doesn't cover: This document does not address residential use, leasing, pets, parking, or age restrictions. It is a commercial subdivision declaration focused on stormwater management. For detailed lot use restrictions, architectural control, and landscaping, refer to the Parent Declaration recorded in Book 1491 at Page 1558.

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.