Soundcrest Office Center Property Owners Association

What Soundcrest Office Center Property Owners Association's governing documents say

Soundcrest Office Center is a condominium community in Wilmington, NC, with only three units, all designated for office use. This document is the full declaration and bylaws, binding unit owners and the association. It covers ownership structure, assessments, use restrictions, and governance.

• What you own & maintain: You own your unit in fee simple and an undivided interest in the common elements proportional to your unit's square footage. The association maintains the common elements and provides exterior maintenance for each unit (roofs, exterior surfaces, trees, shrubs, walks, and exterior glass).
• Use restrictions: Units may only be used for office purposes. No animals except seeing-eye dogs. No outside antennas or satellite dishes without board approval. No signs except those approved by the board. Window coverings must be off-white one-inch mini blinds. No campers, trailers, or trucks larger than a standard 2-ton pickup may be parked on the premises.
• Assessments & fees: Annual and special assessments are levied per unit based on each unit's percentage of ownership (see Exhibit B: Unit 100 = 33.1%, Unit 102 = 50.6%, Unit 104 = 16.3%). The maximum annual assessment can increase up to 5% per year without a membership vote; larger increases require 60% approval. Unpaid assessments become a lien after 30 days and accrue interest up to 18% per year.
• Architectural review: No exterior changes or new structures may be made without written approval of plans by the board. Exterior color changes require 60% owner approval at a meeting with a quorum. The declarant and board are not liable for design defects or code compliance of approved plans.
• Insurance: The association carries master fire, casualty, liability, and flood insurance. Each owner must carry their own liability insurance with at least $1,000,000 per occurrence, naming the association as an additional insured, and provide proof to the board.
• Party walls: Walls and floors between units are party walls. Repair costs are shared proportionally by the owners using the wall. If an owner's negligence causes damage, that owner bears the full cost. Disputes are settled by arbitration.
• Governance & meetings: The association is managed by a board of two members (initially appointed by declarant, later elected). Each unit gets one vote. Annual meetings are required; special meetings can be called by the board or 20% of members. A quorum is 10% of votes. Bylaws can be amended by a majority vote.

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.