Minerva Mews Condominium Unit Owners Association Inc

Key facts from Minerva Mews Condominium Unit Owners Association Inc's documents

Reflects the 1992 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Minerva Mews Condominium Unit Owners' Association, Inc. (Art. I §1.4)

Governing law

North Carolina Condominium Act, Chapter 47C, North Carolina General Statutes (Preamble; Art. I §1.1)

Assessments & dues

$100.00 per month per Unit (Art. V §5.4)

Special assessments

May be levied for reconstruction, repair, replacement of capital improvements, improvements to Open Space/Common Elements, facilities/equipment, loan repayment; requires approval of all Unit Owners in Referendum; collected monthly (Art. V §5.6)

Collections & liens

Unpaid assessment for 30+ days constitutes lien on Unit when filed with Clerk of Superior Court; may be foreclosed as mortgage under power of sale per Act (Art. XIV §14.2)

Reserves & fees

Association shall establish Reserve Funds adequate for long-term repairs, held in interest-bearing account or prudent investments, for major rehabilitation/repairs, roof/exterior wall maintenance, emergency repairs (Art. V §5.5)

Pets

Yes, subject to restrictions (Art. IV §4.6)

Leasing & rentals

Yes, Unit Owners have full right to lease their Unit subject to restrictions (Art. IV §4.5)

Solar & roof

All Units shall maintain original colors for walls and trim; roof replacement shall match existing roof colors (Art. XIII §13.4(2))

Home business

Home occupation permitted as incidental use subject to: no display visible from street/entrance; no mechanical equipment except domestic; no outside storage; max 25% of interior floor area; no significant traffic increase; no commercial par (Art. I §1.25(2))

Signs & flags

No 'For Sale' or 'For Rent' signs or window displays/advertising without prior written consent of Executive Board (Art. IV §4.3(d))

Maintenance

Association responsible for maintenance (including periodic painting) of roofs and exterior walls; shall establish sinking fund (Art. XIII §13.4(2))

Insurance

Association shall maintain property insurance on Property against all risks of direct physical loss, including fire and extended coverage, in amount not less than full insurable value on replacement cost basis (Art. VII §7.1)

Use restrictions

All Units shall be used for Single Private Household and Residential Purposes (Art. IV §4.3(a))

Voting & meetings

Votes in the Association are equally allocated to all Units (Art. II §2.5)

Amendments

Declaration may be amended only in strict compliance with Act, including Sections 47C-2-110 and 47C-2-117; amendments altering/impairing Special Declarant Rights require Declarant's written consent (Art. XI)

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