Lullwater Village

What Lullwater Village's governing documents say

Lullwater Village is a condominium community in Wilmington, NC — you own your unit and a share of the common areas, which the association maintains and insures. This document is the original 1986 Declaration of Condominium, which sets the basic rules for the community, including use restrictions, maintenance responsibilities, and the association's structure.

• What you own & maintain: You own the interior of your unit (walls, floors, ceilings, fixtures, appliances, windows, doors) and are responsible for its maintenance and repair. The association maintains the common areas (land, roofs, exterior walls, structural elements, utilities, walkways, parking areas) and limited common areas (decks, fencing, interior non-load-bearing walls, and utility lines within the unit).
• Use restrictions: Units may be used only for residential and lodging accommodation purposes, including rentals for terms of at least six months. No commercial use is allowed, except the declarant may use common areas for sales efforts until all units are sold.
• Leasing & rentals: Leases must be for a term of at least six months. Short-term or vacation rentals are not permitted. All rentals must comply with association rules and regulations.
• Pets: The document does not mention any pet restrictions. (Note: The association may have separate rules and regulations that address pets.)
• Assessments & fees: Each unit owner pays a monthly assessment for common expenses, as set forth in Exhibit E (not included here). An initial working capital reserve equal to two months' estimated assessment is due at closing. Late payments bear interest up to 6% per year.
• Amendments & termination: The declaration may be amended by a vote of 67% of unit owners. Termination requires unanimous consent of all unit owners, except in cases of substantial destruction or condemnation where a 75% vote may terminate.
• What this document doesn't cover: This excerpt does not include the full set of rules and regulations, architectural guidelines, parking rules, or specific pet policies. Those may be found in the association's bylaws or separate rules.

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.