The Seawell Professional Building

Key facts from The Seawell Professional Building's documents

Reflects the 1985 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Preamble: submit to Unit Ownership Act)

Developer / declarant

Driftwood Villas Development Corporation, a North Carolina corporation (First paragraph)

Governing law

North Carolina Unit Ownership Act, Chapter 47A of the North Carolina General Statutes (Preamble, Paragraph 3)

Assessments & dues

Common expenses shared by unit owners in ratios specified in Exhibit B; assessments made by Board of Directors after budget approval, and Manager may recommend budget and collect assessments. (Sections 11, 12A)

Collections & liens

Any sum assessed remaining unpaid for more than 30 days constitutes a lien on the delinquent unit when recorded in the Office of the Clerk of Superior Court; lien secures reasonable attorney's fees; in foreclosure, owner required to pay rea (Section 13)

Reserves & fees

Assessments for reserve or sinking funds for capital improvements or repairs held by Board for that purpose; if contingency does not occur, funds used for general operation or to reduce next year's assessments. (Section 10C(5))

Leasing & rentals

Yes; unit owner may delegate rights of possession, use, and enjoyment to invitees, employees, guests, and tenants. (Section 17A)

Parking & vehicles

Parking spaces are located in the common area, not identified by numbers; available generally for owners, their tenants, guests, and invitees without reservation or restriction. (Section 8)

Architectural approval

Prior written consent of Association required for: any structural addition to common elements; any alteration, repair, replacement, or change of common elements or exterior portions of the building; any communications aerial, television aer (Sections 12B(1)(b), 12B(1)(c), 17C)

Maintenance

Each unit owner maintains in good repair his unit and all interior surfaces (walls, ceilings, floors) that are not common elements or exterior surfaces. Association maintains common elements and exterior surfaces, costs assessable to all un (Section 12B(1)(a))

Insurance

All buildings and improvements upon the land and all personal property included in the common elements shall be insured for maximum insurable replacement value (excluding foundation and excavation) or 90% co-insurance blanket coverage; cove (Section 14B)

Use restrictions

A unit owner shall not permit anything that increases insurance rate on building, obstructs rights of other owners, annoys by unreasonable noises, odors, or otherwise; no nuisance, immoral or illegal act. (Section 17B)

Voting & meetings

One voting member per unit; total votes = 100; votes allocated per percentage of common elements ownership as set forth in Exhibit B. (Section 10C(3))

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.