Teacher's Pet Condominium Owners Association, Inc.

What Teacher's Pet Condominium Owners Association, Inc.'s governing documents say

Teacher's Pet is a small condominium community in Carolina Beach, NC, consisting of a single building with two residential units. You own your unit and an undivided 50% interest in the common elements. The association maintains the building's exterior and common areas, and you must follow the condominium documents and board rules.

• What you own & maintain: You own the interior of your unit, including finished surfaces. The association maintains the common elements (land, foundations, roof, corridors, parking areas, etc.) and limited common elements like exterior doors, windows, and balconies, except that you are responsible for replacing broken glass in windows and for maintaining HVAC limited common elements serving your unit.
• Unit use restrictions: Units are for residential use only. No obnoxious or unlawful activity is allowed. No signs, flags, or banners may be displayed to public view. No planting of shrubs or hedges without prior written permission.
• Parking & vehicles: Parking is allowed only in areas designated by the association. No obstruction of stairs, entrances, sidewalks, yards, driveways, or parking areas.
• Alterations & improvements: You must notify the association before altering your unit. Work must use materials and methods similar to existing construction and must not affect the building's structural soundness. You bear all costs and must indemnify the association.
• Assessments & common expenses: Each owner pays 50% of common expenses. Assessments are collected at least quarterly. Unpaid assessments become a lien on the unit after 30 days.
• Insurance: The association carries property insurance on the building and common elements, public liability insurance (minimum $500,000 per person/$1,000,000 per occurrence), and fidelity coverage. You should obtain your own insurance for personal property and additional liability.
• Amendments & termination: Amendments require 100% owner approval and consent of all mortgagees. Termination requires compliance with North Carolina law.

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.