Oleander Trade Center, a Condominium

What Oleander Trade Center, a Condominium's governing documents say

Oleander Trade Center is a commercial condominium project in Wilmington, NC, with multiple phases. This supplemental declaration adds Phase 2 (five units) to the existing Phase 1 condominium regime. It is intended for owners of commercial units, not residential use.

• What this document is: This is a Supplemental Declaration that adds Phase 2 to the existing Oleander Trade Center condominium, subjecting the new property to the same master declaration recorded in Book 1730, Page 667.
• Property description: Phase 2 consists of a single one-story building with approximately 3,240 square feet, containing five units (Units 8-12), each about 609.5 square feet. The property is located on Hinton Avenue in Wilmington, NC.
• Unit ownership & common areas: Each unit is owned in fee simple, with an undivided percentage interest in the common areas. All 12 units (Phase 1 and Phase 2) have equal 8.3333% interests in the common areas.
• Future expansion: The declarant reserves the right to add additional phases from the remaining land described in Exhibit D of the original declaration.
• What this document doesn't cover: This document does not contain use restrictions, pet rules, leasing terms, maintenance obligations, or assessment amounts. Those are in the original Declaration of Condominium (Book 1730, Page 667), which is incorporated by reference but not provided here.

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.