Anderson Square Condominium Association, Inc.

What Anderson Square Condominium Association, Inc.'s governing documents say

Anderson Square Condominium is a commercial condominium in Wilmington, NC — you own an individual unit and share ownership of the building's common elements. This declaration restricts each unit to office use and certain approved business, mercantile, or storage activities. The association maintains common elements and carries master insurance, funded by equal per-unit assessments.

• What you own & maintain: You own the interior of your unit (walls, floors, ceilings, and fixtures serving only your unit). The association maintains and repairs all common elements and limited common elements (like exterior doors, windows, porches, and parking spaces if allocated). You are responsible for snow and debris removal from your doorstep or stoop.
• Use restrictions: Each unit is restricted to office use and any business, mercantile, or storage activity approved in advance by the association and permitted under zoning (requiring a minimum 2-hour firewall). Adult bookstores, video stores, and other 'adult' entertainment stores are strictly prohibited. No automobile, truck, boat, engine, or industrial equipment repair may be conducted on any portion of the condominium.
• Leasing & rentals: Units may be leased or rented subject to any applicable rules and regulations. All leases must include a provision that the tenant recognizes the association as landlord for enforcement of the condominium documents. Time-sharing plans are prohibited.
• Parking & vehicles: Designated parking areas may not be used for any purpose other than vehicular parking. No outside storage is permitted on common or limited common areas, except that operative and licensed vehicles used in a trade or business conducted in a unit may be parked overnight in unallocated parking areas.
• Assessments & fees: Common expenses are shared equally among all units (each unit pays an equal share). Assessments are due monthly. The association has a lien on a unit for unpaid assessments that remain unpaid for 30 days or longer after filing. Late charges, fines, collection costs, and interest are enforceable as assessments.
• Alterations & improvements: No structural addition, alteration, or improvement may be made without prior written approval from the executive board. You may make non-structural interior alterations that do not impair structural integrity or mechanical systems. You may not change the appearance of common elements or the exterior of a unit without permission.
• Insurance: The association must maintain property insurance covering all buildings (including units and fixtures) for 100% of actual cash value, and liability insurance of at least $1,000,000. The association may also carry directors and officers liability insurance and fidelity bonds. Unit owners may obtain their own policies.
• What this document doesn't cover: This declaration does not include specific rules about pets, age restrictions, or rental minimum lease terms. It also does not contain detailed architectural guidelines or a full set of rules and regulations (those are adopted separately by the executive board).

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.