South Wood Business Center
association language present (entity×62, governance×4)
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What South Wood Business Center's governing documents say
South Wood Business Center is a commercial condominium in Wilmington, NC — you own an office/business unit and share ownership of the building's common elements, which the association maintains and insures. This declaration governs use, assessments, and operations for unit owners, tenants, and occupants.
- Permitted use: Units may be used for office and business purposes only. No residential use is allowed.
- What you own & maintain: You own your unit's interior (walls, ceilings, floors) and an undivided interest in common elements. You must maintain your unit's interior; the association maintains common elements and exterior surfaces.
- Assessments & fees: Common expenses are shared per the percentage interest in common elements (Exhibit D). Unpaid assessments accrue interest at up to 1.5% monthly and become a lien on the unit after 30 days.
- Leasing & rentals: Leases are permitted but must comply with the declaration and bylaws. No minimum lease term is stated in this excerpt.
- Alterations & approvals: No structural additions, exterior alterations, or changes to common elements without prior written consent of the Board. Signs (including for-sale/for-rent) require Board permission.
- Insurance: The association carries master property and liability insurance on buildings and common elements. Unit owners should obtain their own coverage for personal property, liability, and business interruption.
- Parking: Parking spaces are available generally for owners, tenants, guests, and invitees under rules set by the Board.
- What this document doesn't cover: This excerpt does not specify pet rules, age restrictions, rental caps, or affordable housing requirements. It is a declaration of condominium and does not include the full bylaws or current rules and regulations.
Key facts from South Wood Business Center's documents
- Community type
- condominium (Declaration of Condominium, first paragr)
- Legal name
- SOUTH WOOD BUSINESS CENTER, INC. (Article I B and Article XI A)
- Developer / declarant
- SOUTH WOOD ASSOCIATES, a North Carolina General partnership (Preamble)
- Governing law
- North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes (Third paragraph of Declaration)
- Assessments & dues
- Not set; determined by Association budget (Article XIII A (Manager recommends budge)
- Special assessments
- Not explicitly named, but assessments for reserve or sinking funds for capital improvements or repairs are held for that purpose; excess assessments reduce following year's assessments (Article XI C(5) last paragraph)
- Collections & liens
- Unpaid assessments become a lien when filed of record; lien secures reasonable attorney's fees; foreclosure may include appointment of receiver to collect rent (Article XIV second and third paragraphs)
- Reserves & fees
- Capital reserve for repair, maintenance and replacement included in common expenses; assessments for reserve funds must be held for that purpose (Article I K (common expenses include cap)
- Leasing & rentals
- Not expressly prohibited; unit owner may delegate rights of possession, use, and enjoyment to tenants (Article XVIII A) (Article XVIII A)
- Parking & vehicles
- Parking spaces available generally for owners, tenants, guests, and invitees under restrictions prescribed by Board of Directors (Article IX)
- Architectural approval
- Prior written consent of Association required for any structural addition to common elements or alteration to common elements or exterior portions of building (Article XIII B(1)(b) and (c))
- Insurance
- All buildings and improvements and personal property in common elements insured for maximum insurable replacement value (excluding foundation/excavation) or 90% co-insurance; covers fire, extended coverage, vandalism, malicious mischief, et (Article XV A and B)
- Use restrictions
- Prohibited: no unreasonable noises, odors, etc.; no immoral or illegal acts (Article XVIII B)
- Voting & meetings
- One vote per unit; total 100 votes; vote weight equals percentage of common element ownership set forth in Exhibit D (Article XI C(3))
- Amendments
- Amendment requires vote of at least 60% of undivided interest of all unit owners in common elements (Exhibit D); must be recorded (Article XX)
About this HOA
South Wood Business Center is a homeowners association in Wilmington, NC.
HOAproxy has 1 document on file for South Wood Business Center: 1 CC&R. Last updated 2026-06-01.