Racine Business Court Condominium

What Racine Business Court Condominium's governing documents say

Racine Business Court Condominium is a commercial condominium in Wilmington, NC — you own a unit (land and any building on it) and share common elements like parking, landscaping, and signage. The community is restricted to office and institutional (O&I) uses (no restaurants), and the developer may add up to 3 more units. This document is the full declaration of condominium, binding all unit owners.

• What you own & maintain: You own your unit (land and any building on it), including exterior doors, windows, stoops, steps, nameplates, and exterior lighting. You must maintain, repair, and replace everything in your unit at your own expense. The association maintains common elements (parking lot, landscaping islands, bulk trash containers, entrance signage) and limited common elements assigned to your unit (like adjacent landscaped islands and mailboxes) — but costs for limited common elements are assessed to the benefiting unit(s).
• Leasing & rentals: No lease for a term of less than one year. All leases must be in writing and subject to the condominium documents. Leases must include a provision that the tenant recognizes the association as landlord for enforcement purposes, after the association gives the owner notice and a chance to cure.
• Use restrictions: Units may only be used for office and institutional (O&I) purposes as permitted by Wilmington's zoning ordinance; restaurants are specifically prohibited. Only letter signage may be affixed to the exterior door of each unit. Trash service is shared via a common receptacle, contracted by the association.
• Architectural review: No structural additions, alterations, or improvements may be made without prior written consent of the executive board. You may not change the exterior appearance of your unit or common elements without permission. The board must respond to a written request within 60 days after a notice and hearing; failure to respond does not constitute consent.
• Development rights & declarant control: The developer (Legend Builders, Inc.) may add up to 3 additional units within 10 years of recording, and may withdraw certain land. During the declarant control period (up to 15 years after the first unit is sold), the declarant can appoint board members, maintain sales offices, and exercise other special rights. After 75% of units are sold to non-declarants, at least 25% of board members must be elected by unit owners.
• Voting & assessments: Each unit has one vote. Common expenses are shared equally among all units. Amendments to the declaration require approval of 67% of voting interests, except certain changes (like increasing units or changing boundaries) require unanimous consent.
• Pets: This document does not address pets.

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.