Book PAGE 2173 0553 DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS OF GREEN MEADOWS PARK WAREHOUSE CONDOMINIUMS A CONDOMINIUM AND BYLAWS OF GREEN MEADOWS PARK WAREHOUSE ASSOCIATION THIS DECLARATION AND BYLAWS, made on the date hereinafter set forth by GREEN MEADOWS ASSOCIATES, LLC, A NORTH CAROLINA CORPORATION, the undersigned Declarant, WITNESS ETH: WHEREAS, Declarant is the owner of certain property located near Wilmington, New Hanover County, North Carolina, and more particularly described as follows (herein "Property"): BEING ALL OF LOT 1 & 3, DUTCH SQUARE, AS SHOWN ON A MAP RECORDED IN MAP BOOK 34, PAGE 335, OF THE NEW HANOVER COUNTY REGISTRY.
NOW, THEREFORE, Declarant hereby declares that all of the properties described above shall be held, sold and conveyed subject to the following easements, restrictions, covenants, and conditions, which shall run with the real property and be binding on all parties having any right, title or interest in the described properties or any part thereof, their heirs, successors and assigns, and shall inure to the benefit of each owner thereof.
000082 PART I DEFINITIONS Section 1: "Association" means GREEN MEADOWS PARK WAREHOUSE ASSOCIATION, INC., its successors and assigns.
units.
Section 2: "Bylaws" means the bylaws of the association.
Section 3: "Common Elements" means all portions of a condominium other than the Section 4: "Condominium" means real estate, portions of which are designated for separate ownership and the remainder of which is designated for common ownership solely by the owners of those portions.
Section 5: "Declarant" means GREEN MEADOWS ASSOCIATES, INC., its successors and assigns.
Section 6: *Declaration" means this Declaration of Covenants, Conditions and Restrictions.
466104 RETURNED TO s Siegel 1 2173
clarant" means GREEN MEADOWS ASSOCIATES, INC., its successors and assigns.
Section 6: *Declaration" means this Declaration of Covenants, Conditions and Restrictions.
466104 RETURNED TO s Siegel 1 2173 0554 Section 7: "Executive Board" means the body designated in the declaration to act on behalf of the Association.
Section 8: "Limited Common Elements" means a portion of the common elements allocated by the declaration for the exclusive use of one or more but fewer than all of the units.
Section 9: "Member" means every person or entity who holds membership in the Association.
Section 10: "Owner" means the record owner, whether one or more persons or entities, of a fee simple title to any unit which is a part of the Property, together with an undivided interest in the common elements as hereinafter set forth, including contract sellers, but excluding those having such interest merely as security for the performance of an obligation.
Section 11: "Period of Declarant Control" means the period commencing on the date hereof and continuing until the earlier of (i) five (5) years after the date of the first conveyance of a unit to an owner other than a declarant; (ii) 120 days after conveyance of seventy-five percent (75%) of the units (including any units which may be created pursuant to special declarant rights) to a unit owner other than declarant; (iii) two years after declarant has ceased to offer units for sale in the ordinary course of business; (iv) two years after any development right to add new units was last exercised, or (v) the date upon which declarant voluntarily surrenders control of the condominiums.
Section 12: "Plat" means the plat recorded at New Hanover County Register of Deeds.
w units was last exercised, or (v) the date upon which declarant voluntarily surrenders control of the condominiums.
Section 12: "Plat" means the plat recorded at New Hanover County Register of Deeds.
Section 13: "Unit" means a physical portion of the condominium designated for separate ownership or occupancy.
PART II DECLARATION OF COVENANTS, CONDITIONS, AND RESTRICTIONS ARTICLE I GENERAL Section 1: Declarant hereby submits the Property to the provisions of G.S. 47-C. The Property will be administered in accordance with the provisions of G. S. 47-C, the declaration, and the bylaws.
Section 2: The name of the condominium shall be "GREEN MEADOWS PARK WAREHOUSE CONDOMINIUMS - A Condominium."
is SIX.
Section 3: The Property is located in New Hanover County, North Carolina.
Section 4: The maximum number of units which Declarant reserves the right to create Section 5: Declarant does hereby establish within the Property SIX units, and does hereby designate all such units for separate ownership. Reference is hereby made to the plat for a separate description of the boundaries of each unit, identified by number, said plat being by this reference incorporated herein.
2 2173 0555 Section 6: Each owner shall be a member of the Association. An owner shall be entitled to one (1) vote in the Association for each unit owned.
Section 7: There are no limited common elements with the exception of the parking space rights as provided in Article 11, Section 3 and the limited common elements created under Article IV.
Section 8: Easements and licenses appurtenant to or included in the condominium are those recorded at the New Hanover County Registry. These recorded instruments grant to owners, as property owners in GREEN MEADOWS PARK WAREHOUSE CONDOMINIUMS,
nt to or included in the condominium are those recorded at the New Hanover County Registry. These recorded instruments grant to owners, as property owners in GREEN MEADOWS PARK WAREHOUSE CONDOMINIUMS, nonexclusive easements in and to certain open spaces and private roads located within the real property known as "GREEN MEADOWS PARK WAREHOUSE CONDOMINIUMS".
Section 9: Declarant reserves the following special declarant rights for the entire Property, which shall be exercisable during the period of declarant control: (a) To complete any and all improvements indicated on the plats and plans; (b) To construct and maintain any sales office, management office or model in any of the units or on any of the common elements shown on the plat; (c) To alter the size of any unit, combine or merge two or more units, and subdivide any unit; (d) To appoint and remove any executive board members during the period of declarant control; provided, however, (i) that not later than 60 days after conveyance of twenty-five percent (25%) of the units to owners other than a declarant, at least one member and not less than twenty-five percent (25%) of the members of the executive board shall be elected by owners other than the declarant; and (ii) that not later than 60 days after conveyance of fifty percent (50%) of the units to owners other than a declarant, not less than thirty-three percent (33%) of the members of the executive board shall be elected by owners other than the declarant.
ARTICLE II PROPERTY RIGHTS Section 1: Ownership of a unit shall vest fee simple title to such unit in the owner.
Section 2: Every owner shall own an undivided interest in the common elements and shall have a right and easement of enjoyment in the common elements which shall be
le title to such unit in the owner.
Section 2: Every owner shall own an undivided interest in the common elements and shall have a right and easement of enjoyment in the common elements which shall be appurtenant to and shall pass with the title to every unit. The undivided interest of every unit owner in the common elements shall be proportionate to the total square footage of each unit as a percentage of the total square footage of the entire condominium: See attached "Exhibit A".
The undivided interest in the common elements and the right and easement of enjoyment in such common elements are subject to the following: (a) the Association shall have the right to suspend the voting rights and right of use of any recreational facilities by an owner for any period during which any assessment against his unit remains unpaid; and for a period not to exceed 60 days for any infraction of its published rules and regulations; (b) the Association shall have the right to adopt such rules and regulations as may be needed to regulate the use and enjoyment of the common elements; (c) the special declarant rights as set forth in Article 1, Section 9.
3 2173 0556 (d) the Association shall have the right to dedicate or transfer, or encumber all or any part of the common elements subject to approval by the owners as provided in G.S.
47C-3-112.
Section 3: Every owner shall have a limited common element right to use the parking spaces located in the common parking area.
Section 4: Any owner may delegate his right of enjoyment to the common elements to its tenants.
ARTICLE III COVENANT FOR MAINTENANCE ASSESSMENTS Section 1: The declarant, for each unit owned within the Property, and each owner by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, hereby
MAINTENANCE ASSESSMENTS Section 1: The declarant, for each unit owned within the Property, and each owner by acceptance of a deed therefor, whether or not it shall be so expressed in such deed, hereby covenants and agrees to pay the Association: (1) annual assessments or charges, and (2) special assessments for capital improvements, such assessments to be established and collected as hereinafter provided. The liability of each owner for the common expenses of the Association shall be proportionate to the each owners percentage of interest in the condominium: See attached "Exhibit A". Any assessment levied against a unit remaining unpaid for a period of thirty (30) days or longer shall constitute a lien on that unit when filed of record in the office of the Clerk of Superior Court of New Hanover County and shall accrue interest at a rate set by the Association not to exceed 18% per annum. The Association may bring an action at law against the owner, or foreclose the lien against the Property. Fees (including attorneys' fees).
charges, late charges, fines, and interest are also enforceable as assessments.
Each such assessment, together with interest, costs, and reasonable attorneys' fees, shall also be the personal obligation of the person who was the owner of such property at the time when the assessment fell due. The personal obligation for delinquent assessment shall not pass to his successors in title unless expressly assumed by them.
Section 2: The lien of the assessments provided for herein shall be subordinate to the lien of any first mortgage and ad valorem taxes. Sale or transfer of any unit shall not affect the assessment lien. The sale or transfer of any unit pursuant to mortgage or tax foreclosure or any
the lien of any first mortgage and ad valorem taxes. Sale or transfer of any unit shall not affect the assessment lien. The sale or transfer of any unit pursuant to mortgage or tax foreclosure or any proceeding in lieu thereof, however, shall extinguish the lien of such assessments as to payments which became due prior to such sale or transfer. No sale or transfer shall relieve such unit from liability for any assessments thereafter becoming due or from the lien thereof.
Section 3: The annual assessments levied by the Association shall be used exclusively to promote the health, safety and welfare of the owners and tenants and in particular for the acquisition, improvement and maintenance of the condominium, services and facilities devoted to this purpose, and for the use and enjoyment of the common elements.
The Association may also levy a special assessment payable in a manner as specified by the Association for the purpose of defraying, in whole or in part, the cost of any construction, reconstruction, repair or replacement of a capital improvement upon the common elements, including fixtures and personal property related thereto, provided that any such assessment shall 4 2173 0557 have the assent of a majority of the members.
Section 4: Until January 1 of the year immediately following the conveyance of the first unit to an owner, the maximum annual assessment shall be determined by the Executive Committee for each unit, prorated for the remainder of said year.
(a) From and after January 1 of the year immediately following the conveyance of the first unit to an owner, the maximum annual assessment may be increased effective January 1 of each year without a vote of the membership by up to five percent (5%) of the previous year's maximum annual assessment.
an owner, the maximum annual assessment may be increased effective January 1 of each year without a vote of the membership by up to five percent (5%) of the previous year's maximum annual assessment.
(b) From and after January 1 of the year immediately following the conveyance of the first unit to an owner, the maximum annual assessment for the next succeeding two (2) years may be increased above the increase permitted in Section 4(a), provided that any such assessment shall receive the affirmative vote of two-thirds (2/3rds) of the votes of the owners who are voting in person or by proxy, at a meeting duly called for this purpose. Written notice setting forth the purpose of such meeting shall be sent to all members not less.than thirty (30) days nor more than sixty (60) days in advance of the meeting. No quorum shall be required.
(c) The executive board may fix the annual assessment at an amount not in excess of the maximum.
Section 5: Both annual and special assessments must be fixed at a rate based on each units percentage of ownership, for all units and may be collected on a monthly basis.
Section 6: The annual assessments provided for herein shall commence at a date established by the Association. Once such annual assessments are established, written notice of the annual assessment shall be sent to every owner subject thereto. The due dates shall be established by the executive board.
ARTICLE IV PARTY WALLS Section 1: The walls and flooring connecting adjacent units are "party walls" and are situated on or about the boundary line separating such units.
Section 2: All finish flooring and any other materials constituting any part of the walls, floors, or ceilings are a part of the common elements, pursuant to G.S. 47C-2-102(1).
separating such units.
Section 2: All finish flooring and any other materials constituting any part of the walls, floors, or ceilings are a part of the common elements, pursuant to G.S. 47C-2-102(1).
To the extent any duct, wire, conduit, or any other fixtures lies partially within and partially outside the designated boundaries of a unit, any portion thereof serving only that unit is a limited common element allocated exclusively to that unit, and any portion thereof serving more than one unit or any portion of the common elements is a part of the common elements, pursuant to G.S. 47C-2-102(2).
Any decks, porches, balconies, patios and all other exterior doors and windows or other fixtures designated to serve a single unit but located outside the unit's boundaries are limited common elements allocated exclusively to that unit, pursuant to G.S. 47C-2-102(4).
Section 3: Each wall which is built as a part of the original construction of a unit and placed on the dividing line between the units shall constitute a party wall, and, to the extent not inconsistent with the provisions of this Article, the general rules of law regarding party walls and liability for property damage due to negligence or willful acts or omissions shall apply 5 2173 0558 thereto.
Section 4: The cost of reasonable repair and maintenance of a party wall shall be shared by the owners who make use of the wall in proportion to such use.
Section 5: Notwithstanding any other provisions of this Article, an owner who by his negligent or willful act causes a party wall to be exposed to the elements shall bear the whole cost of furnishing the necessary protection against such elements.
Section 6: The right of any owner to contribution from any other owner under this
to be exposed to the elements shall bear the whole cost of furnishing the necessary protection against such elements.
Section 6: The right of any owner to contribution from any other owner under this Article shall be appurtenant to the land and shall pass to such owner's successors in title.
Section 7: If any owner desires to sell his unit, such owner may, in order to assure a prospective purchaser that no adjoining unit owner has a right of contribution as provided in this Article IV, request of the adjoining unit owner a certification that no right of contribution exists.
whereupon it shall be the duty of the adjoining unit owner to make such certification immediately upon request and without charges; provided, however, that where the adjoining unit owner claims a right of contribution, the certification shall contain a recital of the amount claimed.
Section 8: In the event of any dispute arising concerning a party wall, or under the provisions of this Article, such dispute shall be settled by arbitration as provided by the laws of North Carolina as then existing.
ARTICLE V EXTERIOR MAINTENANCE Section 1: In addition to maintaining the common elements, the Association shall provide exterior maintenance for each unit, subject to assessment hereunder, including the performance of the following, as needed: Paint, repair, replace and care of roofs, exterior building surfaces, trees, shrubs, walks, and other exterior improvements. Such exterior maintenance shall not include glass surfaces.
Section 2: In the event that the need for maintenance, repair, or replacement is caused through the willful or negligent act of an owner, his family, guests, invitees, or tenants, the cost of such maintenance, replacement, or repairs shall be added to and become a part of the
t is caused through the willful or negligent act of an owner, his family, guests, invitees, or tenants, the cost of such maintenance, replacement, or repairs shall be added to and become a part of the assessment to which such unit is subject.
ARTICLE VI ARCHITECTURAL CONTROL No building, fence, wall. or other structure or improvement shall be commenced, erected or maintained upon the condominium, nor shall any exterior addition or change therein be made until the plans and specifications showing the nature, kind, shape, height, materials, and location of the same shall have been submitted to and approved in writing.
The exterior color of a unit cannot be changed unless the color scheme of the entire condominium is similarly changed. Any such change requires the approval of two-thirds of the owners at a duly called meeting at which a quorum is present.
6 FACE 2173 0559 ARTICLE VII USE RESTRICTIONS Section 1: No unit shall be used except for warehouse and office purposes.
Section 2: No noxious or offensive activity shall be conducted upon any unit nor shall anything be done thereon which may be or may become an annoyance or nuisance.
Section 3: No animals, livestock or poultry of any kind shall be kept or maintained on any unit or in any dwelling except that dogs, cats or other household pets may be kept or maintained provided that they are not kept or maintained for commercial purposes. All household pets shall be kept on a leash at all times when outside the units.
Section 4: No outside radio or television antennas, including satellite dishes or receivers, shall be erected on any unit unless and until permission for the same has been granted by the executive board.
Section 5: No signs shall be permitted on or about the units except those approved by
rs, shall be erected on any unit unless and until permission for the same has been granted by the executive board.
Section 5: No signs shall be permitted on or about the units except those approved by the executive committee.
Section 6: All window coverings (i.e., curtains, blinds, draperies, shades, etc.) shail appear white or off-white from the exterior.
Section 7: Owners shall not park or store any, camper, trailer, trailer vehicle, or similar vehicle anywhere on the premises.
ARTICLE VIII EASEMENTS Section 1: Easements for installation and maintenance of utilities and drainage facilities are reserved as shown on the recorded plat. Within these easements no structure, planting or other material shall be placed or permitted to remain which may interfere with the installation and maintenance of utilities, or which may obstruct or change the flow of drainage channels in the easements.
Section 2: All units and common elements shall be subject to easements for the encroachment of improvements constructed on adjacent units by the declarant to the extent that such improvements actually encroach, including, but not limited to, such items as overhanging eaves, stoops, misaligned common wall foundation footings and walls, provided such encroachment does not interfere with the reasonable use of the common elements or units so encroached upon.
Section 3: Declarant shall have a reasonable construction easement across the common elements for the purpose of constructing improvements on the units. Declarant shall also have such easements through the common elements as may be reasonably necessary for the purpose of discharging a declarant's obligations or exercising special declarant rights as provided herein.
also have such easements through the common elements as may be reasonably necessary for the purpose of discharging a declarant's obligations or exercising special declarant rights as provided herein.
Section 4: The Association shall have a right of entry upon the units and any limited common elements to effect emergency repairs, and a reasonable right of entry upon the units to effect other repairs, improvements, replacement or maintenance as necessary.
Section 5: Ail easements granted herein are appurtenant to and shall run with the unit, 7 DION 2173 PACE 0560 and shall inure to the benefit of and be binding upon the declarant, the Association, owners, occupants, and mortgage holders, and any other person or entity having an interest in the condominium.
Section 6: All owners, their employees and guests will have the the right for ingress and egress over all limted commom elements, parking lots and roadways as shown on the recorded plat of Green Meadows Park Warehouse Condominiums recorded in the office of the Register of Deeds of New Hanover County, North Carolina.
ARTICLE IX GENERAL PROVISIONS Section 1: All powers granted in the declaration or the bylaws to the Association shall be exercisable by the executive board, except as expressly provided in the declaration, the bylaws, or G.S. 47-C.
Section 2: The Association may adopt and enforce reasonable rules and regulations not in conflict with the declaration and supplementary thereto, as more fully provided in the bylaws.
Section 3: The Association shall have the right to enforce, by any proceeding at law or in equity, all restrictions, conditions, covenants, reservations, liens and charges now or hereafter imposed by the provisions of this declaration, the bylaws and articles of incorporation of the
w or in equity, all restrictions, conditions, covenants, reservations, liens and charges now or hereafter imposed by the provisions of this declaration, the bylaws and articles of incorporation of the Association. Failure by the Association to enforce any covenant or restrictions therein shall in no event be deemed a waiver of the right to do so thereafter.
Upon notice to the Association of a violation hereunder and a failure of the Association to take action upon said violation within 90 days, any unit owner, or other holder of an interest in the condominium may undertake the enforcement of the provisions of the declaration at his own expense.
Section 4: Invalidation of any one of these covenants or restrictions by judgment or court order shall in no way affect any other provisions which shall remain in full force and effect.
Section 5: The covenants and restrictions of this declaration shall run with and bind the unit, for a term of twenty (20) years from the date this declaration is recorded, after which time they shall be automatically extended for successive periods of ten (10) years. This declaration may be amended during the first 20-year period by an instrument signed by not less than ninety (90) percent of the unit owners, and thereafter by an instrument signed by not less than seventy-five (75) percent of the owners. Any amendment must be recorded.
Section 6: The fiscal year of the Association shall begin on the first day of January and end the 31st day of December of each year, except that the first fiscal year shall begin on the date of incorporation.
PART III BYLAWS ARTICLE I 2173 0561 MEETINGS OF MEMBERS Section 1: The first annual meeting of the members shall be held within one year from
irst fiscal year shall begin on the date of incorporation.
PART III BYLAWS ARTICLE I 2173 0561 MEETINGS OF MEMBERS Section 1: The first annual meeting of the members shall be held within one year from the date of incorporation of the Association, and each subsequent regular annual meeting of the members shall be held on the same day and the same month of each year thereafter, unless changed by the Executive Board.
Section 2: Special meetings of the members may be called at any time by the president or the executive board, or upon written request of 20% of the members, pursuant to G.S.
47C-3-108.
Section 3: Written notice of each meeting shall be given by, or at the direction of, the secretary or person(s) authorized to call the meeting, by hand delivering or mailing a copy of such notice, postage prepaid, at least 10 days and not more than 50 days before such meeting to each member as provided in G. S. 47C-3-108.
Section 4: Within 30 days after adoption of any proposed budget for the condominium, the executive board shall provide a summary of the budget to all the unit owners. The budget shall be considered at a meeting of the unit owners as set forth in G.S. 47C-3-103(c).
Section 5: The presence at the meeting of members or proxies entitled to cast ten percent (10%) of the votes shall constitute a quorum for any action except as otherwise provided by law.
Section 6: Every unit owner shall be entitled to one vote for each unit owned.
Section 7: Pursuant to G.S. 47C-3-110, votes allocated to a unit may be cast pursuant to a dated written proxy signed by a unit owner. A unit owner may not revoke a proxy except by written notice delivered to the person presiding over a meeting of the Association. A proxy
cast pursuant to a dated written proxy signed by a unit owner. A unit owner may not revoke a proxy except by written notice delivered to the person presiding over a meeting of the Association. A proxy terminates one year after its date, unless it specifies a shorter term.
ARTICLE II OFFICERS AND EXECUTIVE BOARD; SELECTION; TERM OF OFFICE Section 1: The affairs of the Association shall be managed by an executive board of three (3) members, who shall be entitled to act on behalf of the Association.
Subject to the initial period of declarant control as set forth in Article 1 of the Declaration, nomination for election of the executive board shall be made from the floor at the annual meeting. Election shall be by secret written ballot and by a majority of the unit owners when a quorum is present. Cumulative voting is not permitted.
Section 2: At the first annual meeting following the termination of declarant control, three (3) executive board members shall be elected to serve until the following annual meeting.
Section 3: Any executive board member, except those appointed by the declarant, may be removed in accordance with G.S. 47C-3-103(b). In the event of death, resignation or removal of a director, his successor shall be selected by a majority of the members voting at a meeting when a quorum is present.
Section 4: No executive board member shall receive compensation for any service he may render to the Association. However, with the prior approval of the executive board, any executive board member may be reimbursed for actual expenses incurred in the performance of his duties.
2173 0562 Section 5: The executive board shall have the right to take any action in the absence of a meeting which they could take at a duly held meeting by obtaining the written consent of all
uties.
2173 0562 Section 5: The executive board shall have the right to take any action in the absence of a meeting which they could take at a duly held meeting by obtaining the written consent of all the executive board members to the action. Any action so approved shall be filed in the corporate books and records and shall have the same effect as though taken at a meeting of the executive board.
ARTICLE III MEETINGS OF EXECUTIVE BOARD Section 1: Meetings of the executive board shall be held annually without notice, at such place and hour as may be fixed from time to time by resolution of the board. Special meetings of the executive board may be called by any member of the executive board, after not less than five (5) days notice to each executive board member.
Section 2: A majority of the executive board members shall constitute a quorum for the transaction of business. Every act or decision done or made by a majority of the executive board members present at a duly held meeting shall be regarded as the act of the board.
ARTICLE IV POWERS AND DUTIES OF THE EXECUTIVE BOARD Section 1: Subject to the provisions contained herein and applicable law, the executive board shall have the power and authority to exercise all the rights of the Association, including, but not limited to: (a) Adopt rules and regulations governing the use of the common area and facilities, the personal conduct of the members and their guests thereon, and establish penalties for the infraction thereof; (b) Suspend the voting rights and right of use of the common facilities of a member during any period in which such member shall be in default in the payment of any assessment levied by the Association. Such rights may also be suspended after notice and
common facilities of a member during any period in which such member shall be in default in the payment of any assessment levied by the Association. Such rights may also be suspended after notice and hearing, for a period not to exceed 60 days for infraction of published rules and regulations; (c) Declare the office of a member of the executive board to be vacant in the event such member shall be absent from three (3) consecutive regular meetings of the executive board; (d) Employ a manager, an independent contractor, or other employees as they deem necessary, and prescribe their duties; provided always, any contract for professional management must contain a clause requiring not more than 90 days termination notice; (e) Procure, maintain and pay premiums on an insurance master policy(s) and equitably assess the owners of the same for their prorata portion of such expense.
(f) Impose and receive any payments, fees, or charges for the use, rental, or operation of the common elements other than for service provided to unit owners; and (g) Exercise all other powers that may be exercised in this state by legal entities of the same type as the Association; 10 2173 0563 (h) Exercise any other powers necessary and proper for the governance and operation of the Association; and (i) Have and to exercise any and all powers, rights and privileges which a corporation organized under the Non-Profit Corporation Law of the State of North Carolina by law may now or hereafter have or exercise.
Section 2: It shall be the duty of the executive board to: (a) cause the common elements to be maintained, repaired, and replaced as necessary, and to assess the unit owners to recover the cost of the upkeep of the common elements.
(b) serve as the architectural committee;
common elements to be maintained, repaired, and replaced as necessary, and to assess the unit owners to recover the cost of the upkeep of the common elements.
(b) serve as the architectural committee; (c) keep a complete record of all its acts and corporate affairs and present a statement thereof to the members at the annual meeting, or at any special meeting when such statement is requested in writing by 20% of the members; (d) supervise all officers, agents and employees of the Association, and see that their duties are properly performed; (e) fix the amount of the annual assessment at least thirty (30) days in advance of each annual assessment period pursuant to the provisions set forth in the declaration and G.S.
47C-3-103(c); (f) send written notice of each assessment to every owner at least thirty (30) days in advance of each annual assessment period; (g) foreclose the lien against any property for which assessments are not paid within thirty (30) days after due date or to bring an action at law against the owner personally obligated to pay the same.
(h) issue, or have issued, a certificate setting forth whether or not any assessment has been paid. A reasonable charge may be made for the issuance of these certificates. If a certificate states an assessment has been paid, such certificate shall be conclusive evidence of such payment; (i) procure and maintain, at all times, adequate hazard insurance on the property owned by the Association and all property for which the Association has the duty to maintain, and sufficient liability insurance to adequately protect the Association as provided in G.S.
47C-3-113; and (j) cause all officers or employees, including officers and employees of
e duty to maintain, and sufficient liability insurance to adequately protect the Association as provided in G.S.
47C-3-113; and (j) cause all officers or employees, including officers and employees of professional management, having fiscal responsibilities to be bonded, as it may deem appropriate.
ARTICLE V OFFICERS AND THEIR DUTIES Section: The officers of this Association shall be a president, vice-president, and secretary/treasurer. The officers shall be appointed by the executive board from among the members of the executive board.
Section 2: (a) The president shall preside at all meetings of the executive board; see that 11 2173 TABE 0564 orders and resolutions of the executive board are carried out; sign all leases, mortgages, deeds and other written instruments and shall co-sign all checks and promissory notes.
(b) The vice-president shall act in the place of the president in the event of his absence, inability or refusal to act, and shall exercise and discharge such other duties as may be required of him by the executive board.
(c) The secretary shall record the votes and keep the minutes of all meetings and proceedings of the executive board and of the members; keep the corporate seal of the Association and affix it on all papers requiring said seal; serve notice of meetings of the executive board and of the members; keep appropriate current records showing the members of the Association together with their addresses; prepare, execute, certify, and record amendments to the declaration on behalf of the Association; and perform such other duties as required by the executive board.
(d) The treasurer shall receive and deposit in appropriate bank accounts all monies of the Association and disburse such funds as directed by the executive board; sign all checks
the executive board.
(d) The treasurer shall receive and deposit in appropriate bank accounts all monies of the Association and disburse such funds as directed by the executive board; sign all checks and promissory notes (such checks and promissory notes to be co-signed by the president) of the Association; keep proper books of account; cause an annual audit of the Association books to be made by a public accountant at the completion of each fiscal year; and prepare an annual budget and a statement of income and expenditures to be presented to the membership at its annual meeting, and deliver a copy to each member.
ARTICLE VI BOOKS AND RECORDS The books, records and papers of the Association shall at all times, during reasonable business hours, be subject to inspection by any member or a mortgagee of any member. The articles of incorporation and the declaration and bylaws of the Association shall be available for inspection by any member at the principal office of the Association, where copies may be purchased at reasonable cost.
ARTICLE VII CORPORATE SEAL The Association shall have a seal in circular form having within its circumference the words: "GREEN MEADOWS PARK WAREHOUSE ASSOCIATION, INC." and the words: "CORPORATE SEAL - 1997” in the center thereof.
ARTICLE VIII AMENDMENTS TO BYLAWS Section 1: These bylaws may be amended, at a regular or special meeting of the members, by a vote of the majority of the members.
12 PAGE 2173 0565 CERTIFICATION I, the undersigned, do hereby certify: That I am the duly elected and acting Secretary of GREEN MEADOWS PARK WAREHOUSE ASSOCIATION, INC., a North Carolina corporation; and That the foregoing Bylaws constitute the original Bylaws of said Association, as duly
elected and acting Secretary of GREEN MEADOWS PARK WAREHOUSE ASSOCIATION, INC., a North Carolina corporation; and That the foregoing Bylaws constitute the original Bylaws of said Association, as duly adopted by the Board of Directors thereof, held on the 29th day of APRIL, 1997.
N WITNESS WHEREOF, I have hereunto subscribed my name and affixed the seal of said Association this 29th day of APRIL, 1997.
Geen ke GREGORY G. KERR-SECRETARY IN TESTIMONY WHEREOF, Declarent has caused this Declaration to be signed in its name and duly attested and sealed, this 29th day of APRIL, 1997.
GREEN MEADOWS PARK ASSOCIATES, LLC BY: Сасан GK SEAL GREGORY & KERR-MEMBER-MANAGER STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER I, STEVEN F. SIEGEL, a Notary Public for the aforesaid County and State, certify that GREGORY G. KERR, member-manager of GREEN MEADOWS PARK ASSOCIATES, LLC, personally appeared before me this day and acknowledged the due execution the foregoing document.
Witness my hand and official stamp or seal, this 29th day of April, 1997.
My Commission Expires: STEVEN F SIEGEL Notary Public State of North Carolina New Hanover County Commission Expires August 29, 2000 13 Notary Public (Notarial Seal) BOOK РАЗЕ STATE OF NORTH CAROLINA 2173 0566 COUNTY OF NEW HANOVER The Foregoing Certificate of Steven F. Siegel, Notary Public is certified to be correct.
This the 29 day of April, 1997.
MARY SUE OOTS REGISTER OF DEEDS, NEW HANOVER COUNTY Jacki Watan Deputy Assistant*37 APR 29 PM 12 04 pl RECORDED AND VERIFIED MARY ONE COTS REGISTER OF DEEDS NEW HANOVER CO. NC 14 800K FACE 2173 0 5 6 7 EXHIBIT A For the plans and specifications of the Building and Units, see Condominium Plat Book 11, Pages 61 through 63., New Hanover County Registry, which recorded plans and
4 800K FACE 2173 0 5 6 7 EXHIBIT A For the plans and specifications of the Building and Units, see Condominium Plat Book 11, Pages 61 through 63., New Hanover County Registry, which recorded plans and specifications are incorporated herein by reference.