North Market Commercial Park

What North Market Commercial Park's governing documents say

North Market Commercial Park is a commercial condominium in Wilmington, NC — you own a unit (office, retail, or other non-residential use) and share ownership of common elements. This document is the full declaration of condominium, binding all unit owners. It is not for residential living; units are restricted to commercial uses.

• What you own & maintain: You own your unit's interior and must maintain, repair, and replace it at your own expense. The association maintains all common elements (e.g., roadways, parking, utility lines) except limited common elements assigned to specific units. Limited common elements (like land within a unit's boundaries) are maintained by the unit owner unless otherwise stated.
• Use restrictions: Units are restricted to non-residential uses: general retail, institutional, commercial, office, professional, banking, restaurant, self-storage, and other uses permitted by zoning. As long as a Dollar General operates in Unit 1, no building in original Unit 2 may be used as a Dollar General, Family Dollar, Fred's, Dollar Tree, Variety Wholesale, Ninety-Nine Cents Only, Deals, or Dollar Bills.
• Leasing & rentals: All leases must be in writing and comply with the condominium documents. Leases must include a provision that the tenant will recognize the association as landlord for enforcement of violations, but only after the association gives the landlord notice and a reasonable opportunity to cure.
• Allocated interests & voting: Common elements are owned 50% by Unit 1 and 50% by Unit 2. As long as units remain unsubdivided, each unit has one vote. If subdivided, votes are based on square footage. Deadlocks are resolved by arbitration.
• Development rights: The declarant (developer) has the right to subdivide units, create new units, and build improvements within 10 years of the declaration's recording. These rights include constructing utility lines, stormwater ponds, and granting easements. The declarant may also maintain sales offices and signs.
• Parking: Parking is a non-exclusive easement for owners, tenants, and customers. The association may set rules for towing and designate parking areas. Parking in Unit 1's area is reserved for Unit 1's tenants and customers.
• Signage: Unit owners may affix letter signage to the exterior door of their building, subject to board approval. Additional signage is restricted; a sign easement in Unit 1's southeast corner is reserved for Unit 2's temporary signage. Only one sign (max 3x3 feet) per building for a unit for sale.
• Alterations & improvements: Structural additions or changes to common elements require board approval. Interior changes that don't impair structural integrity or mechanical systems are allowed without permission. Changing exterior appearance of a unit or common elements requires board approval.

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.