Flagship Villas

What Flagship Villas's governing documents say

Flagship Villas is a townhome community in Wilmington, NC, with a separate boat docking facility governed by the Flagship Villa Boatowners Association. This document sets rules for the boat slips and common dock area, not the townhomes themselves. It applies to townhome owners (Class A members) who automatically get two boat slips and the Declarant (Class B member) who owns remaining slips.

• Membership & boat slip ownership: Each townhome owner is a Class A member and automatically owns two boat slips. The Declarant holds a Class B membership for remaining slips, which cannot be sold but may be used by its shareholders or family. Class A memberships transfer only with the townhome; boat slip use may be leased under association rules.
• Assessments & fees: The association levies annual and special assessments (for capital improvements or repairs) on each membership. Assessments are a lien on the membership and a personal obligation of the owner at the time they fall due. Delinquent assessments bear 10% annual interest and may incur attorney fees.
• Use restrictions: No commercial use is allowed on the properties, common area, or boat slips. Obnoxious or offensive activities that become a nuisance are prohibited. The board may adopt and enforce reasonable rules and regulations.
• Architectural control: No structures or alterations may be made on the common area or association property without prior written approval from the board or an architectural committee, ensuring harmony of external design.
• Maintenance & insurance: The association maintains the common area and each boat slip, with costs included in annual assessments. It carries property and liability insurance on the common property; members may insure their personal property separately.
• Duration & amendments: The covenants run for 25 years from recording (1982), automatically renewing for successive 10-year periods. Amendments require a two-thirds vote of total membership, recorded in the county registry.
• What this document doesn't cover: This declaration governs only the boat docking facility and common area, not the townhome units themselves. It does not address townhome maintenance, interior rules, pet policies, or rental restrictions for the residences.

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.