Sunn Aire Condominiums

What Sunn Aire Condominiums's governing documents say

Sunn Aire Condominiums is a condominium community in Wilmington, NC — you own your individual unit and share ownership of the building's common elements, which the association maintains and insures, funded by per-unit assessments. The community was planned for up to 168 units across multiple phases, with buildings of three stories and wood-frame construction. This document is the original Declaration of Condominium, which establishes the legal framework for the condominium, including unit ownership, common areas, assessments, insurance, and use restrictions.

• What you own & maintain: You own the interior of your unit, including non-load-bearing walls, fixtures, and equipment. The association maintains the common areas (e.g., foundations, roofs, exterior walls, stairways, parking areas, pool, and landscaping). You are responsible for maintaining and repairing everything inside your unit, including plumbing, electrical, HVAC, and floor/wall coverings.
• Leasing & rentals: Units may be rented for residential purposes, but the declaration does not specify a minimum lease term. The board may recommend rental agents, but owners have the absolute right to enter into direct rental arrangements consistent with the governing documents. No rental pooling or mandatory rental is required.
• Pets: The declaration does not address pet restrictions. Rules may be established by the board in the Rules and Regulations.
• Assessments & fees: Unit owners pay monthly assessments based on their percentage of undivided interest in the common areas (set forth in Exhibit D). The initial estimated budget (1986) showed a monthly assessment of $63.93 per unit. Assessments may be increased up to 5% per year without a membership vote. A working capital reserve equal to two months' estimated assessment is required at closing.
• Use restrictions: Units must be used for residential and lodging accommodation purposes only. The declarant may use unsold units as sales or rental offices until all units are sold. No commercial use is allowed except as specified.
• Insurance & damage: The association carries master property and liability insurance (minimum $1,000,000 liability) on the common areas and units. Unit owners are responsible for insuring their own personal property and improvements. In case of damage, the board must promptly repair and restore using insurance proceeds, unless more than two-thirds of the building is destroyed and three-fourths of owners vote not to rebuild.
• Board & voting: The association is governed by a board of directors. Initially, the declarant (Century Funding Corporation) controls the board until 75% of units are sold or January 1, 1990, whichever comes first. Thereafter, owners elect directors. Each unit has a vote equal to its percentage of undivided interest in the common areas. A quorum requires a majority of votes.
• What this document doesn't cover: This declaration does not specify current assessment amounts, pet restrictions, parking rules, or age restrictions. Those details may be in the association's Rules and Regulations or later amendments.

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.