Park Support Center Association The

Key facts from Park Support Center Association The's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

The Park Support Center Owners, Inc. (Part I, Section 3; Exhibit D, Article I)

Developer / declarant

The Park Support Center Association, Inc. (Preamble)

Governing law

North Carolina Condominium Act (Chapter 47C, North Carolina General Statutes) (WHEREAS clauses; Part II, Article I, Sec)

Assessments & dues

Maximum annual assessment is $ TBD per [blank] until January 1 of the year following first conveyance to non-Declarant Owner (Part II, Article VI, Section 5)

Special assessments

Special assessments for capital improvements and for maintenance, reconstruction and repair of stormwater facilities (Part II, Article VI, Section 1)

Collections & liens

Unpaid assessment for 30+ days constitutes a lien on the Unit when filed with Clerk of Superior Court of Durham County; Association may bring civil action and foreclose; lien subordinate only to first deed of trust and ad valorem taxes (Part II, Article VI, Sections 1, 3)

Reserves & fees

Association may establish Capital Improvement Fund for replacement of structural elements and mechanical equipment; amount set by Executive Board (Part II, Article VI, Section 4)

Pets

No animals of any kind kept or maintained in any Unit without permission of Executive Board (Part II, Article X, Section 3)

Parking & vehicles

No boats, campers, recreational vehicles, or similar vehicles parked on Common Areas; no motor vehicle not currently registered, inspected, or licensed parked on Common Areas; Association may tow violating vehicles and charge Owner (Part II, Article X, Section 6)

Signs & flags

Signs must comply with City of Durham regulations and condominium association regulations; approved format sign may be placed above entrance; no signs on Common Elements advertising business except within 30 days of grand opening or for sal (Part I, Section 16; Part II, Article X, )

Maintenance

Association maintains Common Elements including roadways and fencing; Owner responsible for all maintenance/repair of Unit and Limited Common Elements allocated to Unit, including roof and exterior surfaces; load bearing wall repair respons (Part II, Article VIII, Sections 1, 3)

Insurance

Owner responsible to insure furniture, equipment, personal property, computers, telephones, communications equipment, movable furnishings, decorative items, specialized equipment, trade fixtures; Owner must provide liability insurance with (Part II, Article XIII, Section 3)

Use restrictions

Units may be used only for warehouse and light industrial purposes, business and professional purposes, conforming to state and local zoning; no motor vehicle repair; no use requiring special use permit or variance without Executive Board c (Part II, Article X, Section 1)

Voting & meetings

Each Unit has votes allocated per Exhibit B (total 100 votes) (Part I, Section 1; Part II, Article V, S)

Amendments

During first 20 years, amendment requires instrument signed by Owners holding not less than 80% of allocated votes; thereafter, not less than 66%; amendment must be recorded (Part II, Article XV, Section 5)

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