BOOK PAGE 1308 1322 STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER RECORDED AND VERIFIED REBECCA F. HOCKER REGISTER OF BLEDS NEW HANOVER NO Nov 12 4 04 PM '85 DECLARATION OF CONDOMINIUM SECTION 1 EASTWOOD BUSINESS PARK CONDOMINIUM .
60 22nd THIS DECLARATION, made this day of October, 1985, by Contemporary Builders Realty Corp., a North Carolina corporation, with its principal office at 2502 South 17th Street, Wilmington, North Carolina 28401, hereinafter referred to as "Declarant".
WITNESSETH: WHEREAS, the Declarant is the owner of record of the fee simple title of certain property in New Hanover County, North Carolina, which is more particularly described in Exhibit "A" attached hereto and incorporated herein by reference, which property Declarant desires to develop as a business park and to submit the same to condominium ownership; and WHEREAS, the Declarant owns additional property adjoining the abovereferenced property , which is more particularly described in Exhibit "A-1" hereto attached. The Declarant reserves the right, without any obligation, to annex to said business park all or any part of said additional property described in Exhibit "A-1" hereto attached, by executing and recording one or more Supplemental Declarations. Upon the execution and recordation of such Supplemental Declarations, the land therein described shall automatically be annexed to the project and subjected to this Declaration, which action shall require no approval or other consent by the unit owners, the Board of Directors, or the members of the Association of unit owners, or by any other person or entity as hereinafter more particularly provided.
Now, THEREFORE, the Declarant hereby submits the property described in Exhibit "A " hereto
f the Association of unit owners, or by any other person or entity as hereinafter more particularly provided.
Now, THEREFORE, the Declarant hereby submits the property described in Exhibit "A " hereto attached to Condominium Ownership pursuant to Chapter 47A of the General Statutes of North Carolina, as amended, and to that end does hereby publish and declare that all of said property to be known as SECTION 1, EASTWOOD BUSINESS PARK CONDOMINIUM , is and shall be held, conveyed, hypothecated, encumbered, used, occupied, and improved, subject to the following covenants, conditions, restrictions, uses, limitations and obligations, all of which shall be deemed to run with the land and shall be a burden and benefit to Declarant, its successors and assigns, and any person acquiring or owning an interest in the property and improvements, their grantees, successors, heirs, personal representatives, executors, administrators, devisees and assigns.
ARTICLE I NAME AND ADDRESS The name by which this condominium is to be identified is: BUSINESS PARK CONDOMINIUM.
EASTWOOD The condominium's location and address is: 102 Eastwood Road, Wilmington, North Carolina 28403.
ARTICLE II DEFINITIONS The terms used herein and in the By-Laws shall have the meanings stated in the Unit Ownership Act, Chapter 47A, of the North Carolina General Statutes unless otherwise defined herein or in the By-Laws or unless the context otherwise requires.
RETURNED TO Draftsman: DAVID C. BAREFOOT BURNEY, BURNEY, BAREFOOT, BAIN & CROUCH 110 North Fifth Avenue/Post Office Box 89 Wilmington, North Carolina 28402 050655 : Act.
BOOK PAGE 1308 1323 A. Condominium Unit means a unit as defined in the said Unit Ownership B. Association means EASTWOOD BUSINESS PARK, INC., the entity
Wilmington, North Carolina 28402 050655 : Act.
BOOK PAGE 1308 1323 A. Condominium Unit means a unit as defined in the said Unit Ownership B. Association means EASTWOOD BUSINESS PARK, INC., the entity responsible for the operation of the condominium pursuant to the act, which entity consists of all the unit owners acting as a group in accordance with the By-Laws and this Declaration.
C. Condominium means all of the condominium property as a whole when the context so permits, as well as the meaning stated in the said Unit Ownership Act.
D. Singular, Plural, Gender. Whenever the context so permits, the use of the plural shall include the singular, the singular the plural, and the use of any gender shall be deemed to include all genders.
E. Developer and Declarant shall be used interchangeably to mean Contemporary Builders and Realty Corp..
F. Assessment means a share of the funds required for the payment of common expenses which from time to time is assessed against the unit owner by the Association.
G. Board of Directors means the Board of Directors of the Association.
H.
By-Laws means the By-Laws for the government of the condominium as they exist from time to time. A copy of the initial By-Laws are hereto attached as Exhibit "F" and made a part hereof by reference.
I. Building or Buildings shall mean all structures and improvements now or hereafter erected upon the property.
J. Common Areas and Facilities shall be used interchangeably with Common Elements to mean the portion of the condominium property owned, in undivided interest, by all of the owners, as more specifically set forth herein in Article III, paragraph D.
K. Common Expenses include the expenses of administration, maintenance,
property owned, in undivided interest, by all of the owners, as more specifically set forth herein in Article III, paragraph D.
K. Common Expenses include the expenses of administration, maintenance, operation, repair and replacement (including a capital reserve for repair maintenance and replacement), of the common areas and facilities, and other expenses declared by the Association to be common expenses, as further defined in the Act.
L. Common Profits means the balance of all revenue of the Association remaining after deduction of common expenses.
M. Condominium Documents means this Declaration, the By-Laws, the Rules and Regulations and all other Exhibits attached hereto and all other documents and regulations promulgated pursuant to the authority created herein and in the Act, and as such documents shall be amended from time to time.
N.
Declaration means this instrument as it may be from time to time amended or supplemented.
0. Phase I shall mean the real property described as Section 1, Eastwood Business Park Condominium in Exhibit "A" attached together with the buildings and all other improvements and structures thereon, all easements, rights and appurtenances belonging thereto, and all articles of personal property intended for common use in connection therewith submitted to the Unit Ownership Act by this Declaration.
P. Phase I shall mean all of the real property described in Exhibit "A-1" attached which may be annexed to EASTWOOD BUSINESS PARK CONDOMINIUM by Supplemental Declarations in the manner hereinafter provided. If the property described in Exhibit "A-1" is developed in more than one phase, each separate portion developed may be designated by a separate phase number.
Q. Project shall mean and include the property developed as Eastwood
in Exhibit "A-1" is developed in more than one phase, each separate portion developed may be designated by a separate phase number.
Q. Project shall mean and include the property developed as Eastwood Business Park Condominiums described upon Exhibit "A" hereto attached and any portion of the property described upon Exhibit "A-1" which is subsequently developed and annexed to and made a part of Eastwood Business Park Condominiums.
2 BOOK PAGE 1308 1324 ARTICLE III IDENTIFICATION OF PROPERTY A. LAND: The description of the land on which the buildings and improvements are, or are to be, located is set forth in Exhibit "A" of this Declaration.
The land shall also include such other land, together with any buildings and improvements thereon as may be subsequently subjected to this Declaration by annexation in the manner hereinafter provided.
B. BUILDINGS: The building erected or to be erected by the Declarant on the land described in Exhibit "A" is shown on Exhibit "B" hereto attached which sets forth the number of units and the location of the common areas and structural boundaries. The floor plans of the building are showing graphically upon Exhibit "C" hereto attached.
C.
UNIT DESIGNATIONS: The unit designation of each condominium unit, its location, its dimensions, approximate area, number of rooms and common areas and facilities to which it has immediate access, and other data concerning its proper identification are set forth on Exhibit "C" hereinabove referred to and made a part hereof. No unit bears the same identifying number as does any other unit. Each unit is bounded both as to horizontal and vertical boundaries by the interior surface of its perimeter walls, ceilings and floors, which are shown on said plans, subject to such
s any other unit. Each unit is bounded both as to horizontal and vertical boundaries by the interior surface of its perimeter walls, ceilings and floors, which are shown on said plans, subject to such encroachments as are contained in the building, whether the same now exist or may be caused or created by construction, settlement or movement of the building, or by permissible repairs, construction or alteration.
D. COMMON AREAS AND FACILITIES: (1) Extent: The common areas and facilities consist of all parts of the property described in Exhibits "A" and "B" other than the individual units therein as described in Exhibit "C" above.
(2) Nature of Interest: Each of the unit owners shall own an undivided interest in the common elements and said undivided interest, stated as percentages of such ownership in the said common elements, is set forth in Exhibit "D" which is annexed to this Declaration and made a part hereof.
The fee title to each condominium unit shall include both the unit and the respective undivided interest in the common elements and the said undivided interest in the common elements is to be deemed to be conveyed or encumbered with its respective unit even though the description in the instrument of conveyance or encumbrance may refer only to the fee title to the condominium unit.
Any attempt to sever or separate the fee title to a condominium unit from the undivided interest in the common elements appurtenant to each unit shall be null and void.
(3) All areas of the described property not within any units shall be common areas; and all portions of any building or other improvement not included within a unit shall be a common facility. The common facilities shall include all installations,
hin any units shall be common areas; and all portions of any building or other improvement not included within a unit shall be a common facility. The common facilities shall include all installations, items and equipment for utility service to more than one unit and shall also include tangible personal property required for the maintenance and operation of the condominium even though owned by the Association.
E.
AMENDMENT TO PLANS: (1) The Developer reserves the right to change the interior design and arrangement of all units, and to alter the boundaries between units, so long as the Developer owns the units so altered. No such change shall increase the number of units except as provided in Article 6, infra, nor alter the boundaries of the common elements without amendment of this Declaration by approval of the Association and unit owners in the units so authorized, such changes shall be reflected by an amendment to the Declaration. If more than one unit is concerned, the Developer shall apportion between the units the shares in the common elements which are appurtenant to the units concerned. No unit, at any time, may contain less than 500 square feet.
3 BOOK PAGE 1308 1325 (2) An amendment of this Declaration reflecting such alteration of condominium unit plans by Developer need be signed and acknowledged only by the Developer and need not be approved by the Association, unit owners or lienors or mortgagees of units or of the condominium, whether or not elsewhere required for an amendment.
F.
EXPANSION OF CONDOMINIUM: (1) By this Declaration the Declarant submits only the land described in Exhibit "A", together with the improvements thereon, and the same shall be known as SECTION I, EASTWOOD BUSINESS PARK CONDOMINIUM. Nevertheless, Declarant
Declarant submits only the land described in Exhibit "A", together with the improvements thereon, and the same shall be known as SECTION I, EASTWOOD BUSINESS PARK CONDOMINIUM. Nevertheless, Declarant hereby reserves the right and option, but not the obligation, to expand the property subject to this Declaration by adding all or any portion or portions of the land described in Exhibit "A-1". Provided, however, that the maxium number of units to be developed shall not be greater than forty.
(2) Such expansion shall occur, if at all, by the recordation of one or more amendments to this Declaration executed by the Declarant, or its successors and assigns, which amendments shall not require the consent or ratification of any unit owner.
(3) The right and option of Declarant described in sub-paragraphs (1) and (2) above shall terminate on December 31, 1995.
(4) If any units are added to and made subject to this Declaration by the expansion contemplated by this paragraph, the percentages of undivided interest in the common areas and facilities of all units in Phase I, Phase II, and subsequent Phases shall be the percentages shown upon Exhibit "D-1" hereto attached.
(5) The Declarant covenants and agrees that all buildings containing units built on any portion of the land added to and made subject to this Declaration shall be not more than three stories in height above finished grade and shall be made of frame and wood, brick, or masonite or stucco-type siding, or any combination thereof.
(6) Nothing herein shall be deemed to limit or alter Declarant's right, hereby reserved, to vary the internal layout or exterior configurations of any units hereafter constructed so long as Declarant substantially conforms with the provisions of this Article III.
s right, hereby reserved, to vary the internal layout or exterior configurations of any units hereafter constructed so long as Declarant substantially conforms with the provisions of this Article III.
(7) Every unit owner in EASTWOOD BUSINESS PARK CONDOMINIUM, by accepting a deed to a unit therein, thereby agrees for himself and his heirs, successors and assigns, to any expansion of the Property subject to this Declaration in accordance with the provisions of this Article III and does hereby adopt, ratify and confirm the change in unit ownership resulting from such expansion as set forth in Exhibit "D-1" hereto attached.
ARTICLE IV AMENDMENT TO RATIOS As provided by this Declaration, the By-Laws and Rules and Regulations of EASTWOOD BUSINESS PARK, INC. (hereinafter called the "Association") and the terms of Chapter 47A of the General Statutes of North Carolina, the ratio of the undivided interest of each unit owner in the common areas and facilities as set forth on Exhibit "D" attached hereto may be altered, as set forth in Exhibit "D-1", by an amendment to this Declaration duly recorded.
ARTICLE V NATURE OF INTEREST IN UNITS Every condominium unit, together with its undivided common interest in the common areas and facilities, shall for all purposes be, and it is hereby declared to be and to constitute, a separate parcel of real property and the unit owner thereof shall be entitled to the exclusive ownership and possession of his condominium unit subject only to the covenants, restrictions, easements, rules, regulations, resolutions, and decisions as may be contained or provided for herein and in the accompanying By-Laws and minutes of the Association and the Board of Directors.
4 BOON PAGE 1308 1326 ARTICLE VI SUBDIVISION OF UNITS
nd decisions as may be contained or provided for herein and in the accompanying By-Laws and minutes of the Association and the Board of Directors.
4 BOON PAGE 1308 1326 ARTICLE VI SUBDIVISION OF UNITS The Developer shall have the absolute right to subdivide any unit into no more than two (2) sub-units with one portion of the subdivided unit being designated by the unit number followed by the letter "A" and the remaining portion being designated by the unit number followed by the letter "B". The Developer shall apportion between the sub-units the share in the common elements which are appurtenant to the unit so subdivided, and the owner of each subdivided unit shall be entitled to one-half vote in the affairs of the Association.
An amendment to the Declaration reflecting such subdividion of a unit need be signed and acknowledged only by the Developer and need not be approved by the Association , unit owners or lienors or mortgagees of units of the condominium, whether or not elsewhere required for an amendment.
ARTICLE VII SERVICE OF PROCESS Thomas K. Scott is hereby designated as the Registered Agent to receive Service of Process in any action which may be brought against or in relation to this condominium development and/or the Association. The address of said Registered Agent is 2502 South 17th Street, Wilmington, North Carolina 28401, which is within the County of New Hanover in which the development is located. The Board of Directors of EASTWOOD BUSINESS PARK, INC. may revoke the appointment of any such agent and appoint a successor, all pursuant to the By-Laws.
ARTICLE VIII EASEMENTS The following easements are covenants running with the land of the condominium: A. Each unit owner shall have an easement in common with the other
, all pursuant to the By-Laws.
ARTICLE VIII EASEMENTS The following easements are covenants running with the land of the condominium: A. Each unit owner shall have an easement in common with the other owners of all other units to use all pipes, wires, ducts, cables, conduits, public utility lines and other common facilities located in any of the other units and serving his unit.
Each unit shall be subject to an easement in favor of the owners of all other units to use the pipes, ducts, cables, wires, conduits, public utility lines and other common facilities serving such other units and located in such unit. The Board of Directors of the Association or their designee shall have the right of access to each unit to inspect the same, to remove violations therefrom and to maintain, repair or replace the common facilities contained therein or elsewhere in the building.
B. The Association may hereafter grant easements, as approved by the Board of Directors, for utility purposes for the benefit of the property, including the right to install, lay, maintain, repair and replace water lines, gas lines, pipes, sewer lines, television cables, telephone wires and equipment and electrical conduits, and wires over, under, along and on any portion of the common areas; and each unit owner hereby grants the Association an irrevocable power of attorney to execute, acknowledge and record for and in the name of each unit owner such instruments as may be necessary or desirable to effectuate the foregoing.
C. Ingress and egress is reserved for pedestrian traffic over, through and across sidewalks, paths, walks and lanes as the same from time to time may exist upon the common elements; and for vehicular traffic over, through and across such portions of the common
r, through and across sidewalks, paths, walks and lanes as the same from time to time may exist upon the common elements; and for vehicular traffic over, through and across such portions of the common elements as from time to time may be paved and intended for such purposes.
D. Easements are reserved to the owners of units in EASTWOOD BUSINESS PARK for pedestrian and vehicular traffic over, through and across such driveways and parking areas as from time to time may be paved and intended for such purposes, and for the construction and maintenance of water, sewer and other utilities.
E. If a unit shall encroach upon any common element, or upon any other unit by reason of original construction or by the nonpurposeful or non-negligent act of the unit owner or of the Association, then an easement appurtenant to such encroaching unit, to the extent of such encroachment, shall exist so long as such encroachment shall exist.
5 BOOK PAGE 1308 1327 F. The Developer hereby reserves unto itself, its successors or assigns, easements over the common areas of this condominium for ingress, egress, and regress, to be used for, by or in connection with, any other development which may hereafter be erected on the property owned or hereafter acquired by the Developer, its successors or assigns, in the vicinity of the property covered hereby, to the same extent as if said common elements were common elements of said condominiums or as may become necessary for the purpose of the undersigned, its grantees, lessee, successors or assigns, servicing the properties which are subject to the Declaration, or its adjacent properties with utility services, drainage and easements for ingress and egress.
G. Developer hereby grants to the Association easements for the
s which are subject to the Declaration, or its adjacent properties with utility services, drainage and easements for ingress and egress.
G. Developer hereby grants to the Association easements for the installation and maintenance of a lift station, septic tank, drainfields and associated equipment, upon the tract of land shown upon Exhibit "A-1" hereto attached as "Excluded Site", which easement shall run with the land until such time as a county sewer service becomes available to the Project at which time the Association shall be required to tie into the New Hanover County sewer system and all easements granted under this paragraph which are not necessary to accomodate the county sewer service shall thereupon terminate and become null and void. At such time all of the "Excluded Site" not necessary to accommodate the county sewer system, may be developed by Declarant independently, or if Declarant so desires, annexed to this condominium.
ARTICLE IX PARTITIONING The common areas and facilities shall not be divided nor shall any right to partition any thereof exist. Nothing herein contained, however, shall be deemed to prevent ownership of a condominiuim unit by the entireties, jointly, or in common or in any other form by law permitted.
ARTICLE X PARKING SPACES Parking spaces are available generally for owners, their tenants, guests, and invitees under such restrictions as may be prescribed by the Board of Directors of the Association.
ARTICLE XI LIENS While the property remains subject to this Declaration and the provisions of the North Carolina Unit Ownership Act, no liens of any nature shall arise or be created against the common areas and facilities except with the unanimous consent in writing of
on and the provisions of the North Carolina Unit Ownership Act, no liens of any nature shall arise or be created against the common areas and facilities except with the unanimous consent in writing of all of the condominium unit owners and the holders of first liens thereon except such liens as may arise or be created against the several units and their respective common interests under the provisions of the North Carolina Unit Ownership Act. Every agreement for the performance of labor, or the furnishing of materials to the common areas and facilities, whether oral or in writing, must provide that it is subject to the provisions of this Declaration and the right to file a mechanics lien or other similar lien by reason of labor performed or materials furnished is waived.
ARTICLE XII OPERATING ENTITY The operation of the condominium shall be by an incorporated Association organized pursuant to Chapter 55 of the General Statutes of North Carolina.
A. NAME: The name of the Association shall be EASTWOOD BUSINESS PARK, INC.
B. POWERS: The Association shall have all of the powers and duties set forth in the Unit Ownership Act, except as limited by this Declaration and the By-Laws, and all of the powers and duties reasonably necessary to operate the condominium as set forth in this Declaration and the By-Laws and as they may be amended from time to time.
6 BOOK PAGE 1308 1328 The Association's powers of maintenance, operation, administration, management and care of the condominium property may be delegated to a Manager as provided for in Article 14 herein.
All other affairs of the Association shall be conducted by a Board of Directors who shall be designated in the manner provided in the By-Laws of the Association.
C.
MEMBERS:
for in Article 14 herein.
All other affairs of the Association shall be conducted by a Board of Directors who shall be designated in the manner provided in the By-Laws of the Association.
C.
MEMBERS: (1) Qualifications: The members of the Association shall consist of all of the record owners of units.
(2) Change of Membership: After receiving the approval of the Association elsewhere required, change of membership in the Association shall be established by recording in the public records of New Hanover County, North Carolina, a deed or other instrument establishing a record title to a unit or units in the condominium and the delivery to the Association of a certified copy of such instrument, the owner designated by such instrument thereby becoming a member of the Association. The membership of the prior owner shall be thereby terminated.
(3) Voting Rights: There shall be one person with respect to each Unit Ownership who shall be entitled to vote at any meeting of the Unit Owners. Such person shall be known and hereafter referred to as a "voting member". Such voting member may be the owner of one of a group composed of all of the owners of a unit ownership, or may be some other person designated by such owner or owners to act as proxy on his or their behalf and who need not be an owner. Such designation shall be made in writing to the Board of Directors and shall be revocable at any time by actual notice to the Board of Directors of the death or judicially declared incompetence of any designator, or by written notice to the Board of Directors by the owner or owners. The total number of votes of all voting members shall be one hundred (100), and each owner or group of owners (including the Board of Directors, if said Board or its designee shall then hold
r owners. The total number of votes of all voting members shall be one hundred (100), and each owner or group of owners (including the Board of Directors, if said Board or its designee shall then hold title to one or more units) shall be entitled to the number of votes equal to the total of the percentage of ownership in the common areas and facilities applicable to his or their unit ownership as set forth in Exhibit "D" of this Declaration. The unit owner may vote on any matter by secret ballot upon motion duly made and seconded by any voting member.
(4) Approval or Disapproval of Matters: Whenever the decision of a unit owner is required upon any matter, whether or not the subject to an Association meeting, such decision shall be expressed by the same person who would cast the vote of such owner if in an Association meeting, unless the joinder of record owners is specifically required by this Declaration.
(5) Restraint Upon Assignment of Shares in Assets: The share of a member in the funds and assets of the Association cannot be assigned, hypothecated or transferred in any manner except as an appurtenance to his unit.
Any assessment for reserve or sinking funds for capital improvements or repairs shall be held by the Board of Directors for the purposes so designated and for no other. In the event such purpose or contingency does not occur, said allocated funds shall be expended only for the general operation of the property and any excess assessments in any year shall be used to reduce the following year's assessments.
D. INDEMNIFICATION OF DIRECTORS: Every director and every officer of the Association shall be indemnified by the Association against all expenses and liabilities, including counsel fees, reasonably incurred by or imposed upon him in
Every director and every officer of the Association shall be indemnified by the Association against all expenses and liabilities, including counsel fees, reasonably incurred by or imposed upon him in connection with any proceeding to which he may be a party, or in which he may become involved, by reason of his being or having been a director or officer at the time of the acts in question or such expenses are incurred, except in such cases wherein the director or officer is adjudged guilty of willful misfeasance or malfeasance in the performance of his duties; provided that in the event of a settlement, the indemnification herein shall apply only when the Board of Directors approves such settlement and reimbursement as being for the best interests of the Association. The foregoing rights of indemnification shall be in addition to and not exclusive of all other rights to which such director or officer may be entitled.
BOOK PAGE 1308 1329 E. BY-LAWS: The By-Laws of the Association shall be in the form attached hereto as Exhibit "E" as amended from time to time.
F. PROPERTY IN TRUST: All funds and the titles of all properties acquired by the Association and the proceeds thereof shall be held in trust for the members in accordance with the provisions of this Declaration and the By-Laws.
ARTICLE XIII COMMON EXPENSE The common expenses and surpluses of the property shall be shared by the unit owners in the ratios specified in Exhibit "D" as amended from time to time.
ARTICLE XIV MANAGEMENT AND MAINTENANCE A. MANAGER: The Association may enter into a contract with a Management Company or Manager for the purposes of providing all elements of the operation, care, supervision, maintenance and management of the property. All the
ation may enter into a contract with a Management Company or Manager for the purposes of providing all elements of the operation, care, supervision, maintenance and management of the property. All the powers and duties of the Association necessary or convenient for such maintenance and management may be delegated to and vested in the Manager by the Board of Directors, except such as are specifically required by this Declaration, the By-Laws, or the Unit Ownership Act, to have the approval of the Board of Directors or the Association. The Manager is hereby further authorized to recommend the annual budget, and, upon approval thereof by the Board of Directors, make assessments for common expenses, and collect such assessments as provided in this Declaration and the By-Laws, subject always to the supervision and right of approval of the Board of Directors.
OWNER'S MAINTENANCE: B.
(1) Each unit owner agrees as follows: (a) To maintain a good condition and repair his unit and all interior surfaces within his unit (such as walls, ceilings and floors) which are not common elements or exterior surfaces, the maintenance of which shall be the responsibility of the Association and assessable to all the unit owners as a common expense.
(b) Not to make or cause to be made any structural addition to the common elements without the prior written consent of the Association.
(c) To make no alteration, repair, replacement or change of the common elements, or to any outside or exterior portion of the building, whether within a unit or part of the common elements.
(d) To permit the Board of Directors or the Manager, or the agents or employees of the Association, to enter with notice at any reasonable hour of the day, for the purpose of maintenance, inspection, repair, replacement or
d of Directors or the Manager, or the agents or employees of the Association, to enter with notice at any reasonable hour of the day, for the purpose of maintenance, inspection, repair, replacement or improvements within the units or the common elements, or to determine in the case of emergency, the circumstances threatening any unit(s) or the common elements, or to determine compliance with the provisions of this Declaration, the By-Laws, or the Rules and Regulations promulgated thereunder.
(2) In the event a unit owner fails to maintain the unit as required herein or makes any structrual addition or alteration to the common areas without the required written consent of the Board of Directors, or fails to permit entrance to the Board of Directors or Association, or the Board on its behalf, shall have the right to proceed either at law or in equity for whatever appropriate remedy the circumstances require. In lieu thereof and/or in addition to this remedy, the Association, through the Board of Directors, shall have the right and power to levy an assessment against the owner of the unit and the unit itself for such necessary sums to remove any unauthorized structure or alteration and to restore the property to its former condition. The Association and/or the Board of Directors on its behalf, shall have the further right and power to have its employees or agents, or any subcontractor appointed by it, enter the unit at any and all reasonable times, to do such work as is deemed necessary by the Board to enforce compliance with the provisions hereof.
8 BOOK PAGE 1308 1330 C. LIMITATION OF LIABILITY: Notwithstanding the duty of the Association to maintain and repair parts of the condominium property, the Association
ance with the provisions hereof.
8 BOOK PAGE 1308 1330 C. LIMITATION OF LIABILITY: Notwithstanding the duty of the Association to maintain and repair parts of the condominium property, the Association shall not be liable to unit owners for injury or damage caused by any latent condition of the property to be maintained and repaird by the Association, or caused by the elements or other owners or persons.
ARTICLE XV ASSESSMENTS The common expenses shall be assessed against each unit owner as provided for in Article 13 above. Assessments which are unpaid for over thirty (30) days after due date shall bear the maximum interest allowed by law, but not to exceed the monthly rate of one and one-half (1 1/2%) from the due date until such unpaid assessment is paid in full Unit owners shall be subject to assessment by the Board of Directors upon acquiring title to their unit. The Developer shall be liable for assessments for unsold units contemplated by this Declaration upon completion of the building exterior in which such units are located.
Any sum assessed remaining unpaid for more than thirty (30) days shall constitute a lien upon the delinquent unit or units when filed of record in the Office of the Clerk of Superior Court of New Hanover County in the manner provided for by Article 8 of Chapter 44 of the General Statutes of North Carolina as amended. The lien for unpaid assessments shall also secure reasonable attorney's fees incurred by the Manager or the Board of Directors incident to the collection of such assessment or the enforcement of such lien. In any foreclosure of a lien for assessments, the owner of the unit subject to the lien shall be required to pay a reasonable rental for the unit, and the
h assessment or the enforcement of such lien. In any foreclosure of a lien for assessments, the owner of the unit subject to the lien shall be required to pay a reasonable rental for the unit, and the Manager and Board of Directors shall be entitled to the appointment of a receiver to collect the same.
ARTICLE XVI INSURANCE A. OWNERSHIP OF POLICIES: All insurance policies upon the condominium property shall be purchased by the Association or Manager for the benefit of the Association, the unit owners, and their mortgagees as their interest may appear, and provisions shall be made for the issuance of certificates of mortgagee endorsements to the mortgagees of unit owners. Unit owners may, at their option, obtain additiona insurance coverage at their own expense upon their own personal property, for their personal liability, business interruption and such other coverage as they may desire.
B. COVERAGE: All buildings and improvements upon the land and all personal property included in the common elements shall be insured in an amount equal to the maximum insurable replacement value, excluding foundation and excavation costs, or by ninety (90%) per cent co-insurance blanket coverage or by such other form of policy as the Board of Directors annually determines will most reasonably provide the funds necessary to repair or reconstruct the insured improvements. Such coverage shall afford protection against (1) loss or damage by fire and other hazards covered by a standard extended coverage endorsement, and (2) such other risks as from time to time shall be customarily covered with respect to buildings similar in construction, location and use as the buildings on the land, including, but not limited to, vandalism and malicious mischief.
to time shall be customarily covered with respect to buildings similar in construction, location and use as the buildings on the land, including, but not limited to, vandalism and malicious mischief.
C. PUBLIC LIABILITY INSURANCE: Public liability insurance shall be secured by the Association or Manager in such amount and with such coverage as shall be deemed necessary by the Board of Directors, including, but not limited to, an endorsement to cover liability of the unit owners as a group or to a single unit owner.
There shall also be obtained such other insurance coverage as the Board of Directors or Manager shall determine from time to time to be desirable or necessary.
D. PREMIUMS: Premiums upon insurance policies purchased by the Association or Manager shall be paid by the Association and chargeable to the Association as a common expense.
BOOK PAGE 1308 1331 E. PROCEEDS: All insurance policies purchased by the Association or Manager shall be for the benefit of the Association and the unit owners and their mortgagees as their interests may appear, and shall provide that all proceeds thereof shall be payable to the Association as insurance trustee under this Declaration. The Board of Directors of the Association is hereby irrevocably appointed Agent for each unit owner and his mortgagee as their interests may appear for the purpose of compromising and settling claims arising under insurance policies purchased by the Manager or Board of Directors for the benefit of the Association and the unit owners; said Board of Directors or its designee is hereby further empowered to execute and deliver releases to the insurance carrier upon the payment of claims. The Board of Directors' duty or its designee's duty
Board of Directors or its designee is hereby further empowered to execute and deliver releases to the insurance carrier upon the payment of claims. The Board of Directors' duty or its designee's duty upon receipt of such proceeds shall be to hold the same in trust for the purposes elsewhere stated herein or in the By-Laws for the benefit of the Association and the unit owners and their mortgagees, as their interests may appear.
F. IN THE EVENT A MORTGAGE ENDORSEMENT HAS BEEN ISSUED AS TO A UNIT: The share of the unit owner shall be held in trust for the mortgagee and the unit owner as their interest may appear.
G. ADDITIONAL COVERAGE: Each individual unit owner shall be responsible for purchasing, at his own expense, including, but not limited to, liability insurance to cover accidents occurring within his own unit, coverage upon his own personal property, business interruption, fire and other hazard, mortgage insurance, and such other insurance as the unit owner deems necessary or desirable.
ARTICLE XVII DISTRIBUTION OF INSURANCE PROCEEDS Proceeds of insurance policies shall be payable to EASTWOOD BUSINESS PARK, INC., or its designee, as insurance trustee and shall be distributed to or for the benefit of the beneficial owners in the following manner: A. EXPENSE OF THE TRUST: All expenses of the insurance trustee shall be first paid or provision made therefor.
B. RECONSTRUCTION OR REPAIR: If the damage for which the proceeds are paid is to be repaired or reconstructed, the remaining proceeds shall be paid to defray the cost thereof as determined in Article 16 hereof. Any proceeds remaining after defraying such cost shall be distributed as surpluses to the beneficial owners of the damaged units pursuant to Article 13 hereof.
reof as determined in Article 16 hereof. Any proceeds remaining after defraying such cost shall be distributed as surpluses to the beneficial owners of the damaged units pursuant to Article 13 hereof.
C. FAILURE TO RECONSTRUCT OR REPAIR: If it is determined, as provided in Article 18 hereof, that the damage for which the proceeds are paid shall not be reconstructed or repaired, the remaining proceeds shall be distributed as surpluses to the beneficial owners of the damaged units thereof pursuant to Article 13 hereof.
D. MORTGAGEES: In the event a mortgagee endorsement has been issued as to a unit, the share of the unit owner shall be held in trust for the mortgagee and the unit owner as their interest may appear; provided, however, that no mortgagee shall have the right to determine or participate in the determination as to whether or not any damaged property shall be reconstrued or repaired.
ARTICLE XVIII DAMAGE AND DESTRUCTION A. DETERMINATION TO RECONSTRUCT OR REPAIR: If any part of the condominium property shall be damaged by casualty, whether or not it shall be reconstructed or repaired, shall be determined in the following manner: (1) Common Element: If the damaged improvement is a common element, the damaged property shall be reconstructed or repaired, unless it is determined in the manner elsewhere provided that the condominium shall be terminated.
10 (2) BOOK PAGE 1308 1332 Condominium Units: (a) Partial Destruction: If the damaged improvement is a condominium unit, and if termination as provided in Subparagraph (b) below does not take place, the damaged property shall be reconstructed or repaired unless within sixty (60) days after the casualty it is determined by agreement in the manner elsewhere provided that the condominium shall be terminated.
ed property shall be reconstructed or repaired unless within sixty (60) days after the casualty it is determined by agreement in the manner elsewhere provided that the condominium shall be terminated.
(b) Total Destruction: If more than two-thirds (2/3) of the condominium units are destroyed and the owners of three-fourths (3/4) of the units in the entire condominium should determine not to proceed with repair or restoration, then the procedure set forth in Section 47A-25 of the North Carolina Statutes, and any amendments thereto, shall take place.
B. PLANS AND SPECIFICATIONS: Any reconstruction or repair must be substantially in accordance with the plans and specifications for the original building, portions of which are attached hereto as exhibits; or if not, then according to plans and specifications approved by the Board of Directors of the Association, and if the damaged property is a condominium unit, by the owners of all damaged units therein which approvals shall not be unreasonably withheld.
C.
RESPONSBILITY: If the damage is only to those parts of one unit for which the responsibility of maintenance and repair is that of the unit owner, then the unit owner shall be responsible for reconstruction and repair after casualty. In all other instances the responsibility of reconstruction and repair after casualty shall be that of the Association.
D. ESTIMATE OF COSTS: Immediately after a determination to rebuild or repair damage to property for which the Association has the responsibility of reconstruction and repair, the Association shall obtain reliable and detailed estimates of the cost to rebuild or repair.
E. ASSESSMENTS: If the proceeds of insurance are not sufficient to defray
y of reconstruction and repair, the Association shall obtain reliable and detailed estimates of the cost to rebuild or repair.
E. ASSESSMENTS: If the proceeds of insurance are not sufficient to defray the estimated costs of reconstruction and repair by the Association, or if at any time during reconstruction and repair, or upon completion of reconstruction and repair, the funds for the payment of the costs thereof are insufficient, assessments shall be made against the unit owners who own the damaged units, and against all unit owners in the case of damage to common elements, in sufficient amounts to provide funds for the payment of such costs. Such assessments against unit owners for damage to units shall be in proportion to the cost of reconstruction and repair of their respective units. Such assessments on account of damage to common elements shall be in proportion to the unit owner's share in the common elements.
ARTICLE XIX USE AND OCCUPANCY A. USE: The buildings and each of the units shall be used for office and business purposes only. Any unit owner may delegate, in accordance with this Declaration and the ByLaws of the Association, his rights of possession, use, and enjoyment of his unit and the common area and facilities to his invitees, employees, guests and tenants.
B. NUISANCE: The unit owner shall not permit or suffer anything to be done or kept in or about his unit which will increase the rate of insurance on the building, or which will obstruct or interfere with the rights of other unit owners or annoy them by unreasonable noises, odors, or otherwise. No unit owner shall commit nor permit any nuisance, immoral or illegal act in or about the building.
C. EXTERIOR: It shall be the responsibility of each unit owner and the
noises, odors, or otherwise. No unit owner shall commit nor permit any nuisance, immoral or illegal act in or about the building.
C. EXTERIOR: It shall be the responsibility of each unit owner and the Board of Directors to prevent the development of any unclean, unsightly, or unkept condition of the property which shall trend to decrease the beauty of the condominium either as a whole or the specific area.
The unit owner shall not cause anything to be hung, displayed or placed on the exterior walls, doors, windows, or any other exterior part of the building without the prior written consent of the Board of Directors. No person may place or cause to be placed any communications aerial, television aerial, or similar devise on any portion of the condominium property without the written consent of the Board.
11 BOOK PAGE 1308 1333 D. SIGNS: No signs (including "for rent", "for sale" and other similar signs) or property identification signs shall be erected or maintained on any unit except with written permission of the Board of Directors, except as may be required by legal proceedings.
E. STRUCTURES, OUTBUILDINGS AND TRAILERS: temporary character shall be placed upon the property at any time, provided, however, No structure of a that this prohibition shall not apply to shelters used by a contractor during the construction or repair of the multi-unit buildings, so long as these latter temporary shelters are not, at any time, used as residences, offices or for business purposes of a unit owner or permitted to remain on the building plot after completion of said construction or repair.
No mobile home of any kind, trailer, tent, barn, storage shed, garage, treehouse, or other similar outbuilding or structure, regardless of purpose or function,
mpletion of said construction or repair.
No mobile home of any kind, trailer, tent, barn, storage shed, garage, treehouse, or other similar outbuilding or structure, regardless of purpose or function, shall be placed on the property at any time, either temporarily or permanently.
F. RULES AND REGULATIONS: No person shall use the common elements, or any part thereof, or a condominium unit, or the condominium property, or any part thereof, or any other property, the use of which has been acquired for the benefit of the Association, or the unit owners, in any manner contrary to or not in accordance with the Rules and Regulations pertaining thereto, as from time to time may be promulgated by the Board of Directors of the Association , nor in violation of any state, federal or local laws.
G. BREACH OF RESTRICTIONS: In the event of a violation or breach of any of the restrictions contained in this Declaration or of any other covenants contained in this Declaration, the ByLaws or Rules and Regulations of the Association by any unit owner, tenant or agent of such owner , or any of them, jointly or severally, the Association shall have the right to proceed at law or in equity to compel a compliance with the terms hereof or to prevent the violation or breach of this Declaration, the ByLaws or Rules and Regulations of the Association.
Board of Directors shall have the right whenever there shall have been any violation of In addition to the foregoing, the these restrictions, to enter upon the property where such violation exists, and summarily abate or remove the same at the expense of the unit owner, if after thirty (30) days' written notice of such violation it shall not have been corrected by the unit owner. Any such entry and abatement or removal
emove the same at the expense of the unit owner, if after thirty (30) days' written notice of such violation it shall not have been corrected by the unit owner. Any such entry and abatement or removal shall not be deemed a trespass. The failure to enforce any right, reservation or conditions in this Declaration, the By-Laws, or Rules and Regulations however long continued, shall not be deemed a waiver of the right to do so thereafter, as to the same breach or as to a breach occurring prior or subsequent thereto, and shall not bar or affect its enforcement. The invalidation by any Court of any restrictions in this Declaration, the By-Laws or Rules and Regulations shall in no way affect any of the other restrictions, but they shall remain in full force and effect.
ARTICLE XX UNITS SUBJECT TO DECLARATION All present and future owners, tenants and occupants of units shall be subject to, and shall comply with the provisions of this Declaration, the By-Laws and any Rules and Regulations of EASTWOOD BUSINESS PARK, INC. as said Declaration, By-Laws, Rules and Regulations may be amended from time to time. The acceptance of a deed, or the entering into of a lease, or the entering into occupancy of any unit shall constitute an agreement that the provisions of this Declaration, By-Laws and any Rules and Regulations which may be adopted are accpeted and ratified by such owner, tenant or occupant and all of such provisions shall be deemed and taken to be covenants running with the land and shall bind any person having at any time any interest or estate in such unit as though such provisions were made a part of each and every deed or conveyance or lease.
: ARTICLE XXI UTILITIES The Declarant has entered into a Contract with Inlet Bay Utilities, Inc. dated June 19,
s though such provisions were made a part of each and every deed or conveyance or lease.
: ARTICLE XXI UTILITIES The Declarant has entered into a Contract with Inlet Bay Utilities, Inc. dated June 19, 1985, to service the sewer system for the Project under the terms of which each individual unit owner will be charged $15.00 per month or such other rate as may be approved by the North Carolina Utilities Commission which agreement also provides that Declarant shall supplement the monthly payments of the unit owners as necessary with 12 こ BOOK PAGE 1308 1334 sufficient funds to pay Inlet Bay Utilities, Inc. for the full amount of its services. Each unit owner by accepting a deed for a unit and as a part of the monthly assessments chargeable to each such unit, agrees to pay its share of the costs of such sewer services until such time as a county-wide sewer system is available to the Project, at which time the aforesaid contract will be terminated and the Project will be tied into the county sewer system.
A.
ARTICLE XXII AMENDMENT OF DECLARATION This Declaration may be amended by the vote of at least sixty (60%) per cent of the undivided interest of all unit owners in the common elements as set forth in Exhibit "D", cast in person or by proxy at a meeting duly held in accordance with the provisions of the By-Laws. No such amendment shall be effective until recorded in the Office of the Register of Deeds for the county wherein the property, the subject of this Declaration, is located.
B. Anything contained in this Declaration to the contrary notwithstanding, it is contemplated that the Declarant will construct additional units, which shall be located in one or more additional buildings. However, the total number of units subject
contrary notwithstanding, it is contemplated that the Declarant will construct additional units, which shall be located in one or more additional buildings. However, the total number of units subject to this Declaration, shall not exceed 40. Declarant shall have the absolute right, but not an obligation, in its discretion to construct additional units, and if any such units are so constructed on the land now owned or hereafter acquired by the Declarant and contiguous to the land now covered by this Declaration (or contiguous by way of an easement) and if such additional units are substantially equivalent in unit value and construction to the units now covered under this Declaration, then, for the purpose of amending this Declaration and the By-Laws, each owner of a condominium unit under this Declaration, and the mortgagees of each owner of a unit hereunder, shall be deemed to have consented to an amendment or amendments to this Declaration and the By-Laws for the purpose of including such additional units hereunder and shall be deemed to have given to the Declarant an irrevocable power of attorney, coupled with an interest, to effectuate such amendment, and agree to execute such further papers and instrument, if any, as may be necessary or desirable from time to time to accomplish such amendments. It is understood that such amendments shall, in addition to enlarging the number of units to be subject to this Declaration, necessarily result in a redetermination of each unit owner's percentage interest in the common areas and facilities shown in Exhibit "D".
ARTICLE XXIII WAIVER No provisions contained in this Declaration shall be deemed to have been abrogated or waived by reason of any failure to enforce the same, irrespective of the
hown in Exhibit "D".
ARTICLE XXIII WAIVER No provisions contained in this Declaration shall be deemed to have been abrogated or waived by reason of any failure to enforce the same, irrespective of the number of violations or breaches which may occur.
ARTICLE XXIV CAPTIONS The captions herein are inserted only as a matter of convenience and for reference and in no way to define, limit or describe the scope of this Declaration nor the intent of any provision hereof.
ARTICLE XXV LIMITATION OF LIABILITY A. LIMITATION UPON LIABILITY OF ASSOCIATION: Notwithstanding the duty of the Association to maintain and repair parts of the condominium property, the Association shall not be liable for injury or damage, other than the cost of maintenance and repair, caused by any latent condition of the property to be maintained and repaired by the Association, or by the elements or other owners or persons.
B. PROPERTY IN TRUST: All funds and the titles of all properties acquired by the Association and the net proceeds thereof shall be held in trust for the members in accordance with the provisions of this Declaration and the By-Laws of the Association.
13 BOOK PAGE 1308 1335 ARTICLE XXVI EMINENT DOMAIN In the event of a taking by eminent domain (or condemnation or a conveyance in lieu of condemnation) of part or all of the common elements, the award for such taking shall be payable to the Association, which shall represent the owners named in the proceedings. Said award shall be utilized to the extent possible for the repair, restoration , replacement or improvement of the remaining common elements, if only part are taken. If all or more than two-thirds (2/3) of all of the general common elements are taken, it shall be deemed a destruction of more than two-thirds (2/3) of all
ing common elements, if only part are taken. If all or more than two-thirds (2/3) of all of the general common elements are taken, it shall be deemed a destruction of more than two-thirds (2/3) of all of the general common elements and the condominium regime shall be terminated as hereinbefore provided. Any funds not utilized (in the case of a partial taking) shall be applied in payment of common expenses otherwise assessable. In the event of a taking of all or part of a unit, the award shall be made payable to the owner of such unit and his mortgagee, if any, as their interests may appear.
ARTICLE XXVII MISCELLANEOUS A. ENCROACHMENTS: The owners of the respective condominium units agree that if any portion of a condominium unit or common element encroaches upon another, a valid easement for the encroachment and maintenance of same, so long as it stands , shall and does exist. In the event the building is partially or totally destroyed and then rebuilt, the owners of the condominium units agree that encroachments on parts of the common elements or limited common elements or condominium units, as described herein, due to construction, shall be permitted, and that a valid easement for said encroachments and the maintenance thereof shall exist.
B.
EXEMPTION FROM LIABILITY: No owner of a condominium unit may exempt himself from liability for his contribution toward the common expenses by waiver of the use and enjoyment of any of the common elements, or by the abandonment of his condominium unit.
C. MERGER OF UNITS: Nothing hereinabove set forth in this Declaration shall be construed as prohibiting the Board of Directors of the Association from removing or authorizing the removal of any party wall between any condominium units in order
forth in this Declaration shall be construed as prohibiting the Board of Directors of the Association from removing or authorizing the removal of any party wall between any condominium units in order that the said units might be used together as one condominium unit. In such event, all assessments, voting rights, the share of common elements shall be calculated as if such units were originally designated on the Exhibits attached to this Declaration, notwithstanding the fact that several units are used as one, to the intent and purpose that the unit owner of such combined units shall be treated as the unit owner of as many units as have been so combined. No unit at any time may contain less than 500 square feet.
D.
CONSTRUCTION: Whenever the context so requires, the use of any gender shall be deemed to include all genders, and the use of the singular shall include the plural, and plural shall include the singular. The provisions of this Declaration shall be liberally construed to effectuate its purpose of creating a uniform plan for the operation of condominium property.
E.
WARRANTIES AND REPRESENTATIONS: The Declarant specifically disclaims any intent to have made any warranty or representation in connection with the property or the condominium documents, except as specifically set forth therein, and no person shall rely upon any warranty or representation not so specifically made therein.
Any estimates of common expenses, taxes or other charges are deemed accurate, but no warranty or guaranty is made or intended, nor may one be relied upon.
F. CONTROLLING: This Declaration and Exhibits attached hereto and Amendments hereof, shall be construed and controlled by and under the laws of the State of North Carolina.
G.
may one be relied upon.
F. CONTROLLING: This Declaration and Exhibits attached hereto and Amendments hereof, shall be construed and controlled by and under the laws of the State of North Carolina.
G.
COVENANTS: All provisions of this Declaration and Exhibits attached hereto and amendments hereof, shall be construed to be covenants running with the land, and of every part thereof and interest therein, including, but not limited to, every unit and the appurtenances thereto, including the common elements and every unit owner and claimant of the property or any part thereof, or of any interest therein, and his heirs, executors, administrators, tenants, successors, and assigns shall be bound by all of the provisions of said Declaration and Exhibits annexed hereto and Amendments thereof.
14 BOOK PAGE 1308 1336 H. INVALIDATION: If any provision of this Declaration, By-Laws, and the Exhibits attached hereto, the Amendments hereof, or of the Unit Ownership Act Chapter 47A of the General Statutes, or any section, sentence, clause, phrase or work, or the application thereof, in any circumstances is held invalid, the validity of the remainder of this Declaration, By-Laws, th Exhibits attached hereto, the Amendments hereof, or the Unit Ownership Act, shall not be affected thereby.
IN WITNESS WHEREOF, the Declarant has caused this Declaration to be executed in its corporate name and its corporate seal affixed by its duly authorized officers, all the day and year first above written.
Declarant: Contemporary Builders Realty Corp.
By: Joseph R. Reaves DERS ST: Dalat Stom EALTY Secretary (CORPORATE SEAL) 1C 64 PHYLL STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I, PhD - Dunn he is the County and State do hereby certify that Robert E. Strom II a Notary Public in and for the aforesaid
y (CORPORATE SEAL) 1C 64 PHYLL STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I, PhD - Dunn he is the County and State do hereby certify that Robert E. Strom II a Notary Public in and for the aforesaid personally appeared before me this day and acknowledged that Secretary of Contemporary Builders Realty Corp., a North Carolina corporation, and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its name by its President, sealed with its corporate seal and attested by tim self as its Secretary.
WITNESS my hand and notarial stamp or seal, this the 22nd day of October, 1985.
Commission Expires: STAY-13-86 (11-8-86) LAUBLICHIAL SEAL) MOVER COUNTY: STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER The foregoing certificate of Notary Public Phyllis's S. Dunn b Notary 1985.
Public, is certified to be correct. This the 12 day of November REBECCA P. TUCKER Register of Deeds - New Hanover County By: Phyllis you Deputy/Augst EBP dec/17 15