Docksider Condominiums

What Docksider Condominiums's governing documents say

Docksider Condominiums is a 9-unit condominium community in Wilmington, NC — you own your individual unit and an undivided share of the common property, which includes a boat slip available on a first-come, first-served basis. The Docksider Homeowners Association maintains the common elements and carries master insurance, funded by assessments levied per unit.

• What you own & maintain: You own the interior of your unit (including doors, windows, screens, and interior surfaces) and are responsible for maintenance, repair, and replacement of all heating/AC equipment, appliances, and fixtures within your unit. The Association maintains all common property, including structural elements, conduits, and utility lines up to the point of entry into your unit.
• Limited common areas: Each unit has exclusive use of its adjoining patio and storage shed. Boat slips are available on a first-come, first-served basis and are limited common areas.
• Leasing & rentals: Units are restricted to residential use. Leases must be in writing, cover the entire unit (no partial leases), and cannot be for transient, hotel, or commercial purposes. The lease must state it is subject to the Declaration, and lessee noncompliance is a lease default. There is no minimum lease term stated.
• Pets: The document does not address pet restrictions.
• Assessments & fees: Assessments are levied uniformly based on each unit's undivided interest in common property. They are payable monthly (or as determined by the Board). The Board sets an annual budget; increases exceeding the Consumer Price Index require majority owner approval. Delinquent assessments bear 10% annual interest, and the Association has a lien on the unit that can be foreclosed.
• Architectural review & alterations: No structural modifications or exterior alterations (including painting, antennae, fences, or landscaping) may be made without the Association's written consent. The Association may withhold consent if the change would adversely affect the condominium.
• Insurance: The Association carries casualty insurance on buildings and improvements (80% co-insurance minimum), liability insurance, and fidelity coverage. Each unit owner must maintain personal liability insurance of at least $100,000 per occurrence. Insurance proceeds are held in trust and used for reconstruction or distributed to owners if the condominium is not rebuilt.
• Parking & vehicles: The property has sufficient parking for at least one automobile per unit, and each owner has the right to use at least one space. The Association may assign parking spaces and establish regulations.

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.