Murrayville Business Center Condominiums

What Murrayville Business Center Condominiums's governing documents say

Murrayville Business Center Condominiums is a commercial condominium community in Wilmington, NC, consisting of six units designated for warehouse and office use. This document is the full declaration and bylaws, binding all unit owners and the association.

• What you own & maintain: You own your unit in fee simple and an undivided interest in the common elements proportional to your unit's square footage. The association maintains common elements and provides exterior maintenance (roofs, exterior surfaces, trees, shrubs, walks) but not glass surfaces. Party walls between units are shared, with repair costs split proportionally.
• Use restrictions: Units may only be used for warehouse and office purposes. No noxious or offensive activities are allowed. Household pets are permitted but must be leashed outside; no commercial keeping of animals. No outside antennas or satellite dishes without board approval. No signs without approval. Window coverings must appear white or off-white from the exterior.
• Parking & vehicles: Each owner has a limited common element right to use parking spaces in the common parking area. No campers, trailers, or similar vehicles may be parked or stored on the premises.
• Leasing & rentals: Owners may delegate their right to use common elements to tenants. No minimum lease term is stated in this document.
• Assessments & fees: Annual and special assessments are levied per unit based on percentage of ownership (each unit 16.666%). Annual assessments can increase up to 5% per year without a vote; larger increases require a 2/3 vote. Unpaid assessments become a lien after 30 days and accrue interest up to 18% per year.
• Architectural review: No building, fence, wall, or other structure or improvement may be commenced without prior written approval of plans. Exterior color changes require approval of two-thirds of owners at a meeting with a quorum.
• Governance & meetings: The association is managed by a 3-member executive board. Owners have one vote per unit. Annual meetings are held; special meetings can be called by the president, board, or 20% of members. A quorum is 10% of votes. Proxies are allowed and expire after one year.

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.