Modern Baking Co.

What Modern Baking Co.'s governing documents say

Modern Baking Co. is a condominium community in Wilmington, NC — you own your individual residential unit plus an undivided share of the building's common elements, and the association manages the property and common expenses. Parking and storage units are also available for separate ownership but only to residential unit owners.

• What you own & maintain: You own your unit's interior (walls, floors, ceilings) and are responsible for its maintenance and repairs, including appliances, HVAC, and interior surfaces. The association maintains the common elements (building exterior, common areas) and carries master insurance.
• Parking & storage: There are 15 parking units and 11 storage units that can be owned separately, but only by residential unit owners. They cannot be sold or transferred to non-unit owners.
• Alterations & approvals: Structural modifications, exterior changes (painting, antennas, signs), and alterations to limited common elements require prior written consent from the association. Signage on common elements or windows/doors is limited to 4 square feet total.
• Use restrictions: Units are for residential use only. No outdoor cooking (grills) on balconies or common areas. No loud or amplified music. No nuisance activities. Satellite dishes and other structures on balconies or common elements require association approval.
• Insurance: The association carries casualty insurance on the building and common elements (at least 80% replacement value) and liability insurance. Unit owners may obtain their own insurance for their unit and personal property.
• Assessments & common expenses: Each unit pays a share of common expenses as allocated in Exhibit C. Assessments are set by the board via an annual budget and may be paid quarterly or as directed. The association can levy assessments and has lien rights for nonpayment.
• Reconstruction after casualty: Damaged property must be repaired or replaced promptly unless the condominium is terminated, repair is illegal, or 80% of unit owners (including 100% of affected owners) vote not to rebuild. Excess insurance proceeds are distributed per ownership interests.

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.