New Bern Place Condominium

Key facts from New Bern Place Condominium's documents

Reflects the 1985 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title page; Paragraph 2)

Legal name

New Bern Place Condominium Association, Inc. (Paragraph 1(a); Paragraph 7(a))

Developer / declarant

Martin Development Group, Inc., a North Carolina corporation (Preamble)

Governing law

North Carolina Unit Ownership Act, Article 1 of Chapter 47A of the North Carolina General Statutes (Preamble; Paragraph 1(o))

Assessments & dues

Common Expenses assessed pro rata based on undivided interest in Common areas as set forth in Exhibit C. Due dates established by Board of Directors; collected at least monthly. (Paragraph 14(b))

Special assessments

May be made upon affirmative vote of Unit Owners owning at least 51% of Common Interest, for unexpected, extraordinary or nonrecurring expenses. Pro rata per undivided interest. (Paragraph 14(c))

Collections & liens

Association has lien rights for unpaid Common Expenses as described in Bylaws. Lien for unpaid assessments and fees is subordinated to lien of any Mortgage recorded before the assessment became payable. (Paragraph 14(b))

Reserves & fees

Association shall establish and maintain adequate reserve fund for periodic maintenance, repair, replacement of Common areas, funded from regular assessments. (Paragraph 7(c))

Pets

No animals (including household pets), livestock or poultry of any kind shall be raised, bred or kept in any Unit or Common areas except in accordance with promulgated rules of Board of Directors. (Paragraph 22(e))

Leasing & rentals

Leasing is permitted but subject to restrictions. No lease for less than 30 days. No room rentals, no transient tenants. Leases must be in writing on forms approved by Association and subject to Condominium Documents. (Paragraph 22(a))

Parking & vehicles

All parking spaces constituting portion of Property and designated by Board shall be Common areas. Board may assign specific spaces to specific Units. No less than number prescribed by Raleigh City Code Section 10-2061(a)(1). (Paragraph 15)

Fences

No man-made structures in form of fences permitted on or about Common areas without written consent of Board, except those existing on date of Declaration. (Paragraph 22(j))

Architectural approval

No structural addition, alteration or improvement to Unit without prior written consent of Board of Directors. (Paragraph 18(b))

Home business

A Unit Owner or occupant may use a portion of his Unit for his office provided activities comply with local rules, do not interfere with quiet enjoyment/comfort of others, and do not involve 'on premises' personal services to customers/clie (Paragraph 22(a))

Signs & flags

No sign of any kind shall be displayed to public view from Common areas without prior written consent of Board of Directors. (Paragraph 22(d))

Maintenance

Association (Common areas include all roofs) (Paragraph 5(d))

Insurance

Fire insurance on Building and improvements, fixtures, personal property in Common areas, and Association property, at 100% replacement cost. Also public liability (min $1,000,000 per occurrence), fidelity coverage (min 1.5x annual operatin (Paragraph 16(a))

Use restrictions

Each Unit shall be used for a single family residence and for no other purposes. (Paragraph 22(a))

Voting & meetings

Unit Owners vote in proportion to their undivided interest in Common areas (Common Interest). Special assessments require affirmative vote of Unit Owners owning at least 51% of Common Interest. Amendments require vote of Unit Owners owning (Paragraph 14(c); Paragraph 20)

Amendments

Amendment by vote of Unit Owners owning at least 75% of Common Interest, with prior written consent of their Mortgagees. Declarant approval required if Declarant owns Units. Declarant may amend without consent to correct typographical/minor (Paragraph 20)

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