Maritime North Business Park

Key facts from Maritime North Business Park's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Business Park (Maritime North Business Park) (Preamble)

Developer / declarant

Maritime West Development, LLC (Opening recital)

Governing law

North Carolina Nonprofit Corporation Act (implied by non-profit corporation) (Article III Section 1)

Assessments & dues

Board adopts annual budget. If increase ≤10% over prior year, final without member approval; if >10%, must be approved by members per Bylaws. Assessment per lot = (lot sq ft / total lot sq ft) * budget, plus separate stormwater component. (Article IV Section 3)

Special assessments

Allowed with member approval per Bylaws for capital improvements; unlimited special assessment for Disposal System if fund inadequate (Article IV Section 4)

Collections & liens

Lien on lot for unpaid assessments; Association may foreclose. Lien subordinate to first mortgage. Personal obligation of owner at time due. Sale or mortgage foreclosure extinguishes lien for prior payments. (Article IV Sections 7 and 8)

Reserves & fees

Separate fund for Disposal System repair/construction, segregated from common expense budget (Article IV Section 6)

Parking & vehicles

Designated parking areas only for vehicular parking; only operative and licensed vehicles; no on-street parking (Article VI Section 3L)

Architectural approval

Yes, all buildings, walls, fences, other structures, site work, landscaping, exterior additions/changes must have written approval of Declarant (or designee) or after sale of all lots, Board or Architectural Control Committee (Article VI Section 1)

Setbacks / home size

Buildings: 50' from street right-of-way (30' for lots <250' depth) and 15' from other boundary lines. Drives and parking: 10' from street right-of-way, 5' from other boundary lines. (Article VI Section 2A)

Maintenance

Owner maintains own Lot. Association maintains Common Areas (private roads, easements, stormwater ponds, wastewater system) after Declarant Control Period ends. Declarant maintains until then. (Article II Sections 1(e), 2(d))

Insurance

Association may insure Common Areas against loss/damage and public liability; insurance payable to Association for all Members. Association has sole authority to settle claims. (Article II Section 1(d), Section 2(c))

Voting & meetings

Class A (Owners): 1 vote per acre or fraction >=0.5 acre; Class B (Declarant): 2 votes per Class A vote. Class B ceases when Declarant no longer owns land or voluntarily surrenders. (Article III Section 3)

Amendments

During Declarant Control Period, Declarant may amend unilaterally for specified reasons (e.g., prior to first sale, to correct errors, to conform to law, to accommodate uses). After control period, amendment likely by member vote per Bylaws (Article V Section 3)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.