Patriot Business Park Owners Association Inc

What Patriot Business Park Owners Association Inc's governing documents say

This is a second amendment to the declaration of covenants, conditions, and restrictions for Patriot Business Park, a commercial/industrial business park in Durham, NC. It modifies the original declaration to add definitions and maintenance responsibilities for three stormwater detention ponds, and adjusts how assessments and voting rights are calculated for the property owners. This document is not a full rulebook; it only changes specific provisions of the existing declaration.

• What this document covers: This amendment adds definitions for three ponds (Pond 1, Pond 2, Pond 3) and the WBD Lot, and makes the association responsible for maintaining, repairing, and replacing the ponds. It also changes how assessments and voting rights are calculated for each owner, excluding pond acreage from the total.
• Assessments & voting: From the effective date, each owner's assessment and voting rights are based on the total acreage of their parcel minus the acreage of any ponds on that parcel (with Pond 3 allocated between Lot 4 and Lot 5). The amended acreage and assessment percentages are listed in Exhibit 1, with Building 4 (Lot 4) dropping from 32.31 to 28.51 acres and Building 5 (Lot 5) from 25.37 to 24.39 acres.
• Pond maintenance & liability: The association must maintain, repair, and replace the ponds, and all pond expenses are allocated to owners like other expenses. The association also must indemnify and defend each owner against claims related to the ponds, unless caused by the owner's gross negligence or willful misconduct, and must carry commercial general liability insurance for the ponds.
• Amendments affecting ponds: Any future amendment that changes the rights or obligations of an owner regarding the ponds requires the written consent of all owners of the affected parcels.
• What this document doesn't cover: This is only a partial amendment; it does not contain the full set of community rules, restrictions, or obligations. For complete information, you would need to review the original declaration and the first amendment, which are referenced but not included here.

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.