Lake Drive Townhomes

What Lake Drive Townhomes's governing documents say

Lake Drive Townhomes is a townhome community in Wilmington, NC, where you own your lot and dwelling unit, and share party walls with neighbors. The rules are set by the developer and bind all owners, focusing on maintenance responsibilities, use restrictions, and prohibitions on certain activities.

• What you own & maintain: You own your lot and dwelling unit, and are responsible for upkeep of all structures, fences, parking areas, landscaping, and other improvements on your lot. Party walls are shared equally between adjoining owners for maintenance costs.
• Party walls: Party walls are governed by North Carolina common law. Owners share equally in upkeep costs. If a party wall is damaged by fire or casualty, the owner proposing repairs must notify the other; if no response within 10 days (or 24 hours in an emergency), they may proceed. Disputes go to arbitration.
• Use restrictions: Lots may only be used for single-family residential purposes. No business or trade is allowed unless conducted entirely within the dwelling and not detectable from outside. Leasing a lot is not considered a business.
• Prohibited activities: Prohibited activities include creating nuisances (noise, odors, smoke), burning trash, discharging fireworks, dumping hazardous substances, subdividing lots, timesharing, storing large amounts of fuel, and operating a business visible or audible from outside.
• Vehicles & parking: Boats, trailers, motorcycles, campers, vans, golf carts, ATVs, and recreational vehicles are generally not permitted on the property. However, boat trailers, golf carts, and motor homes may be parked to the rear of the house, rear of driveway, or in a garage.
• Pets: No commercial breeding or keeping of animals. Up to three licensed and collared household pets are allowed for personal use. Pets must be confined to the lot by fence or restraint; if off the lot, they must be leashed and waste cleaned up.
• Exterior modifications: No construction, erection, placement, or modification of anything on the exterior of the lot or dwelling unit without permission, including signs, basketball hoops, swing sets, clotheslines, garbage cans, woodpiles, above-ground pools, sheds, fences, and satellite dishes (except certain small dishes placed inconspicuously).
• Insurance: Each owner must carry property insurance covering risks of physical loss for the dwelling unit and other insurable improvements on the lot, for full replacement cost (with reasonable deductible), including windstorm and hail coverage. If replacement cost is unavailable, actual cash value may be substituted.

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.