Island Business Center
association language present (entity×61, governance×4)
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What Island Business Center's governing documents say
Island Business Center is a commercial condominium community in Wilmington, NC — you own an office or retail unit and share ownership of the building's common elements. The association maintains the common areas and carries master insurance, funded by assessments based on each unit's heated/cooled floor area. This document is the full Declaration of Condominium, which creates the condominium and sets out the basic rules for owners.
- What you own & maintain: You own the interior of your unit (from unfinished ceiling to unfinished floor, inside the perimeter walls), including HVAC systems that serve only your unit. The association maintains all common elements (exterior surfaces, common areas, etc.). Limited common elements like stoops, patios, and exterior doors are assigned to specific units; the owner must clean them, but the association pays for major repairs (assessed to the benefiting unit).
- Use restrictions: Each unit is restricted to office and retail use as allowed in the B-3 Zoning District of Carolina Beach. No residential use is permitted.
- Leasing & rentals: Leases must be for a term of at least six months. All leases must be in writing and comply with the condominium documents. Tenants must agree to recognize the association as landlord for enforcement purposes.
- Signage: Each unit owner may erect one sign on the common area facade directly adjoining the unit, subject to approval of style, size, and location by the declarant (during declarant control) or the association (afterward).
- Alterations & improvements: No structural additions or changes to the exterior appearance without prior written approval from the executive board. Interior non-structural alterations are allowed without approval. The board must respond to a written request within 60 days.
- Insurance & liability: If a unit owner's activity increases the association's insurance premiums, that owner must pay the difference. Owners are liable for damage to other units or common elements caused by their negligence or failure to maintain their unit.
- Assessments & liens: Common expenses are assessed to each unit based on its percentage interest (based on heated/cooled floor area). The association has a lien on a unit for unpaid assessments that remain unpaid for 30 days after filing. Late fees, fines, and collection costs are enforceable as assessments.
- Development rights: The declarant reserves the right to add up to 4 additional units, withdraw land, or construct improvements within 15 years of the original declaration. During the declarant control period, the declarant can appoint/remove board members and exercise special rights.
Key facts from Island Business Center's documents
- Community type
- Condominium (commercial)
- Legal name
- ISLAND BUSINESS CENTER
- Developer / declarant
- SECOF LLC (Section 1.1 and Section 1.2(h))
- Governing law
- North Carolina Condominium Act (Chapter 47C of the General Statutes of North Carolina) (Section 1.1)
- Assessments & dues
- Common Expenses assessed against all Units in proportion to their percentage interest in Common Expenses as shown on Exhibit B, except expenses attributable to fewer than all Units. (Section 17.1 and 17.2)
- Special assessments
- Not explicitly provided, but reserves may be established (Section 1.2(e)(iv)). Also judgment assessments against Units at time of judgment (Section 17.2(d)) (Section 1.2(e)(iv) and Section 17.2(d))
- Collections & liens
- Association has a lien on a Unit for assessments unpaid 30+ days from filing. Includes attorneys' fees, late charges, fines, interest. (Section 17.3(a))
- Reserves & fees
- Association may establish reasonable reserves for repair, replacement, or addition to Common Elements or other property held by Association. (Section 1.2(e)(iv))
- Leasing & rentals
- Yes, but leases must be for a term of at least 6 months, in writing, and subject to Condominium Documents. (Section 8.2)
- Signs & flags
- Owner/Tenant may erect one sign on Common Area facade directly adjoining Unit, subject to approval as to style, size, location by Declarant during Declarant Control Period and by Association thereafter. (Section 8.1(c))
- Use restrictions
- Each Unit restricted to office and retail use as allowed in B-3 Zoning District under current Zoning Ordinance for Town of Carolina Beach (Section 8.1(a))
- Voting & meetings
- Each Unit has one vote. 'Majority' means more than 51% of votes. (Section 7.2(c) and Section 1.2(p))
About this HOA
Island Business Center is a homeowners association in Wilmington, NC.
HOAproxy has 1 document on file for Island Business Center: 1 CC&R. Last updated 2026-06-01.