Hinton Trade Center

What Hinton Trade Center's governing documents say

Hinton Trade Center is a commercial condominium in Wilmington, NC — you own a unit (office, warehouse, or storage) and share ownership of the common elements. The association maintains the common areas and carries master insurance, funded by assessments based on each unit's allocated interest.

• Permitted use: Each unit is restricted to commercial use — principally office, warehouse, or storage. No residential use is allowed.
• What you own & maintain: You own the interior of your unit, including non-load-bearing walls, finishes, windows, exterior doors, and HVAC equipment. You must maintain all interior surfaces, appliances, and fixtures. The association maintains the common elements, including structural components and utility lines outside your unit.
• Assessments & common expenses: Each unit pays a share of common expenses based on its percentage interest in the common elements (ranging from 4.20% to 7.03% for the initial 20 units). The board proposes a budget; it is ratified unless two-thirds of all unit owners reject it.
• Leasing & rentals: Leases must be for a term of at least five years to qualify as a 'purchaser' under the declaration, but the document does not otherwise restrict leasing. Short-term leases (under 5 years) are not treated as a disposition of the unit.
• Alterations & exterior changes: No structural modifications or exterior alterations (including painting, antennas, or air conditioning units protruding through walls or roof) may be made without the association's written consent. Changes to common areas, such as fences or landscaping, also require consent.
• Insurance: The association must maintain property insurance on the common elements and units (at least 80% replacement cost) and liability insurance. Each unit owner is an insured person under the policy for liability arising from common elements or membership.
• Future development: The declarant reserved the right to add up to 25 total units on adjacent property until January 1, 2004, by recording supplements to the declaration. Unit owners' consent is not required for expansion.

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.