Progress Point One-B

What Progress Point One-B's governing documents say

Progress Point One-B is a condominium community in Wilmington, NC — you own your unit and share ownership of the building's common elements. The association maintains the common areas and carries master insurance, funded by assessments. This declaration also references a master association (Progress Point Property Owners Association) that may impose additional rules and fees.

• What you own & maintain: You own the interior surfaces of your unit (walls, floors, ceilings) and interior partitions. The association maintains the common elements (e.g., structure, roof, exterior) and provides water and sewer service. You must maintain your unit and any limited common elements allocated to it (e.g., HVAC equipment, second-floor toilets for Units 4 and 5).
• Use restrictions: Units may be used only for professional office purposes, plus ancillary uses approved by the board. No advertising signs, billboards, or nuisances are allowed without board approval. Political signs and U.S. or North Carolina flags are prohibited unless kept inside the unit and not visible from outside.
• Leasing & rentals: Leases must be in writing and state that the lease is subject to the governing documents. A lessee's failure to comply with the rules is a lease default. No minimum lease term is specified in this excerpt.
• Assessments & fees: The board levies assessments for common expenses. Unpaid assessments accrue a $150 late fee after 30 days and 18% annual interest (or max allowed by law), and become a lien on the unit. Assessments are due annually in advance. A new owner is not liable for prior delinquent assessments unless they assume them.
• Pets: This excerpt does not mention any pet restrictions.
• What this document doesn't cover: This excerpt is from the declaration of condominium and does not include the full bylaws, rules and regulations, or the master declaration. Specific details on parking, architectural review, age restrictions, and amenity usage are 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.