Pickett Park Homeowners Association Inc

What Pickett Park Homeowners Association Inc's governing documents say

This is a declaration of condominium for 3805 University Drive Office Condominiums, a small commercial condominium building in Durham, NC, with five office units, five basement storage units, and 32 parking spaces. It establishes the condominium regime and the association that governs it, and it binds the unit owners (who are likely businesses or investors) and their tenants.

• What you own & maintain: Each unit owner owns their office unit (including interior surfaces, doors, windows) and an undivided share of common property. Owners must maintain and repair everything inside their unit, including HVAC, appliances, and interior walls, floors, and ceilings. The association maintains common areas and the building's structural elements.
• Use restrictions: Units are restricted to business and office use only — no residential use. No immoral, offensive, or unlawful use is allowed, and owners must avoid nuisances like unreasonable noise that interfere with other occupants.
• Leasing & rentals: Owners may lease their units, but before accepting a bona fide offer, they must give the board a right of first refusal to buy or lease the unit on the same terms. The board can acquire the unit on behalf of remaining owners or individual owners.
• Transfers & approvals: Sales and leases are subject to board approval (with a right of first refusal). Gifts to family or to a corporation owned 80% by the owner are allowed without board consent. Mortgages require board approval except first mortgages to banks, insurance companies, or savings and loans.
• Architectural review: No structural modifications, exterior changes (including painting, antennas, or protruding AC units), or alterations to common property are allowed without prior written consent of the association. No signs, temporary structures, trailers, or outbuildings may be placed without permission.
• Assessments & fees: The association levies assessments on unit owners to cover common expenses, including insurance and maintenance. Assessments are uniform and based on each unit's undivided interest in common property. They are due as determined by the board, and delinquent assessments accrue interest and can become a lien on the unit.
• Insurance & casualty: The association carries casualty and liability insurance on the building and common property, with premiums paid as common expenses. Owners are responsible for their own personal property and liability insurance. After a casualty, reconstruction rules apply: partial destruction (less than 2/3 of units untenantable) is rebuilt unless all owners vote otherwise; total destruction (2/3 or more) is not rebuilt if 3/4 of owners vote against it.
• What this document doesn't cover: This excerpt is the declaration only; it does not include the association's bylaws, rules and regulations, or the exhibits (survey, floor plans, and allocation of common interests). It also doesn't specify current assessment amounts, pet rules, or parking assignment details — those are likely in separate documents.

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.