Seagate Office Park

What Seagate Office Park's governing documents say

Seagate Office Park is a condominium project in Wilmington, NC, consisting of a single two-story building with five commercial office units and marina facilities. This declaration establishes the condominium regime under North Carolina's Unit Ownership Act, defining unit ownership, common areas, and the association's structure. It is intended for owners and lessees of business office units.

• What you own & maintain: You own your unit's interior (walls, finishes, equipment) and an undivided interest in common areas. You must maintain your unit's interior, including HVAC, appliances, windows, and doors. The association maintains common areas, foundations, exterior walls, roof, elevator, parking, and marina facilities (except finger docks assigned to specific units).
• Use restrictions: Each unit is restricted to business use only. No unit may be sold as a time-share or interval ownership. No immoral, improper, offensive, or unlawful use is allowed. Structural modifications or exterior alterations require written consent from the association's board.
• Boat slips & marina: Each unit is entitled to exclusive use of at least one boat slip: Unit #1 gets slips #1 and #7; Unit #2 gets slips #2 and #3; Unit #3 gets slip #4; Unit #4 gets slip #5; Unit #5 gets slip #6. Finger docks 1, 2, and 3 are appurtenant to specific units and maintained by those unit owners. All other marina facilities are common property.
• Assessments & fees: Assessments are levied in proportion to each unit's undivided interest in common areas. The board sets an annual budget and may levy special assessments. Payments are due as determined by the board; delinquent assessments bear 18% annual interest, plus collection costs and attorney's fees.
• Insurance: The association carries property insurance on buildings and common areas (including marina) at replacement value, plus liability and fidelity bonds as determined by the board. Unit owners may obtain their own insurance for their unit and personal property, with a waiver of subrogation.
• Damage & reconstruction: If common areas are damaged, they must be reconstructed unless the condominium is terminated. If more than two units are destroyed, owners of four units may decide not to rebuild, triggering statutory termination procedures. Reconstruction must follow original plans or board-approved plans.
• What this document doesn't cover: This excerpt does not include the full bylaws, rules and regulations, or detailed architectural guidelines. It also does not specify pet policies, leasing restrictions, or age restrictions.

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.