Hospital Plaza Office Park Condominiums

What Hospital Plaza Office Park Condominiums's governing documents say

Hospital Plaza Office Park Condominiums is a commercial condominium community in Wilmington, NC — you own your individual office unit and share ownership of the common elements (hallways, parking, etc.) with other unit owners. The association manages the property and levies assessments for common expenses. This document is the full declaration of condominium, binding all unit owners.

• What you own & maintain: You own your unit (interior surfaces, walls, ceilings, floors) and an undivided interest in the common elements. The association maintains common areas and exterior surfaces; you must maintain your unit's interior and not alter common elements or exterior portions without approval.
• Assessments & fees: Common expenses are shared according to each unit's percentage interest (Exhibit D). Water/sewer is prorated by plumbing fixtures. Unpaid assessments accrue interest at up to 1.5% monthly and become a lien on the unit after 30 days.
• Parking: Parking spaces are unassigned and available generally for owners, tenants, guests, and invitees without reservation or restriction.
• Leasing & rentals: No minimum lease term is stated in this excerpt; however, the document does not prohibit rentals. Leases are subject to the declaration and rules.
• Pets: The document does not address pets in the excerpt provided.
• Insurance: The association carries master property and liability insurance on buildings and common elements, paid as a common expense. Unit owners may obtain additional coverage for personal property and liability at their own cost.
• Use restrictions: Units are for office park use (commercial). No nuisance, exterior alterations, or signs without approval. The developer reserved rights to subdivide units and grant easements.

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.