Gateway Business Park

Key facts from Gateway Business Park's documents

Reflects the 1995 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

commercial (Article 11: 'Use of the Subdivision prop)

Units / lots

Not explicitly stated; the document applies to Tracts 1, 2, 3A and any subdivided lots or annexed properties. Tracts are described as multiple. (Whereases and Article 1G, 1J)

Developer / declarant

Philip A. Van Campen and Pamela M. Van Campen (Preamble)

Governing law

North Carolina Nonprofit Corporation Act (Chapter 55A) (Article 3A)

Assessments & dues

Fixed by Board of Directors in an amount sufficient to cover anticipated Common Expenses; same for each Lot. First assessment for Tracts 1 and 3A due January 1996; Declarant funds expenses until then. (Article 6B, 6F)

Special assessments

May be levied by majority vote of members; purposes include paying Common Expenses exceeding general assessment fund, contingency fund for capital improvements and extraordinary expenses. Same amount per Lot except if cause relates to speci (Article 7)

Collections & liens

Unpaid assessment (general or special) after 30 days constitutes a lien on the Lot. Corporation may record notice, file suit, file lis pendens, bring action at law against owner, or foreclose lien. Lien subordinate to first mortgage. Forecl (Articles 6A, 6E, 8)

Reserves & fees

Common Expenses include 'any reasonable reserve' (Article 1D). (Article 1D)

Use restrictions

Restricted exclusively to building, maintenance and operation of commercial facilities. State stormwater provisions apply; total built-upon area limited per State rules. Drainage swales cannot be filled, piped, or changed without consent of (Article 11, 11A)

Voting & meetings

One vote per Lot. Voting rights start on the same date an Owner is first required to pay assessments. (Article 3D)

Amendments

During first 20 years, amendment requires instrument signed by Owners owning not less than two-thirds (66 2/3%) of Lots. No amendment may alter easements, alter obligation to pay Common Expenses, or affect assessment liens. Amendment must b (Article 16A)

Amenities

Common Area/Retention Pond, landscaping, stormwater system. All amenities appurtenant to subdivision are private for owners; roadway shown on plat to be dedicated as public street. (Article 1C, Article 13)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.