50349 RV 3 800* PAGE 1539 0374 DECLARATION CREATING UNIT OWNERSHIP OF PROPERTY ARTICLE I DEFINITIONS ARTICLE II DESIGNATION OF CONDOMINIUM ARTICLE III DESCRIPTION OF BUILDINGS INDEX PAGE 1 PAGE 3 PAGE 3 ARTICLE IV DESCRIPTION OF UNITS PAGE 3 ARTICLE V COMMON ELEMENTS PAGE 4 ARTICLE VI 143 PURPOSES FOR WHICH BUILDING AND UNITS ARE INTENDED TO BE USED, AND RESTRICTIONS ON USE PAGE 5 ARTICLE VII SERVICE OF PROCESS PAGE 6 ARTICLE VIII RIPARIAN VILLAGE EXTENSION HOA, INC.
PAGE 6 ARTICLE IX EASEMENTS AND PROPERTY RIGHTS PAGE 7 ARTICLE X ASSESSMENTS ARTICLE XI INSURANCE ARTICLE XII DUTY TO REPAIR OR RECONSTRUCT ARTICLE XIII PAGE 9 PAGE 10 PAGE 12 UNITS SUBJECT TO CONDOMINIUM DOCUMENTS PAGE 12 ARTICLE XIV AMENDMENT TO AND SUPPLEMENT OF DECLARATION PAGE 12 ARTICLE XV TERMINATION PAGE 13 ARTICLE XVI RIGHTS RESERVED TO MORTGAGEES ARTICLE XVII EMINENT DOMAIN ARTICLE XVIII MISCELLANEOUS PROVISIONS RETURNED TO NED BARNES, ATTY.
207098 PAGE 13 PAGE 13 PAGE 14 RECORDED AND VERIFIED SEBECCA P. TUCKER REGISTER OF DE NEW HANOVER CO. NO.
50349 RV-3 BOUN PAGE 1539 0375 DECLARATION OF CONDOMINIUM OF RIPARIAN VILLAGE EXTENSION THIS DECLARATION OF CONDOMINIUM ( "Declaration" ) is made this 1st day of April, 1991, by AT-HOME PROGRAM, LTD., PENSION PLAN ("Declarant "), pursuant to provisions of Chapter 47C of the North Carolina General Statutes, entitled the "North Carolina Condominium Act".
RECITALS together Declarant is the owner of that certain parcel of real estate located near the Town of Carolina Beach, New Hanover County, North Carolina, as more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, with all improvements now or hereafter constructed or located thereon, which may consist of 21 buildings containing (84) residential
n Exhibit "A" attached hereto and incorporated herein by reference, with all improvements now or hereafter constructed or located thereon, which may consist of 21 buildings containing (84) residential condominium units, swimming pool, sidewalks, driveways, parking areas and other improvements Declarant desires to submit the real property described on Exhibit "A" attached hereto and the improvements located thereon to the terms and provisions of the North Carolina Condominium Act, Chapter 47C of the North Carolina General Statutes, and desires and intends, by the filing of this Declaration, to so submit said property and improvements .
NOW, THEREFORE, Declarant does hereby publish and declare that the real property described on Exhibit "A" attached hereto and all improvements located thereon are held and shall be held, conveyed, hypothecated, encumbered, used, occupied and improved subject to the following covenants, conditions, easements, uses, limitations, obligations, and restrictions, all of which are declared and agreed to be in furtherance of a plan for the division of said real estate into condominium units, and shall be deemed to run with the land and shall be a burden and benefit to Declarant, their successors and assigns, and any person or entity acquiring or owning an interest in the said real estate and improvements, and their grantees, successors, heirs, executors, administrators , devisees and assigns.
ARTICLE I DEFINITIONS Unless it is plainly evident from the context that a different meaning is intended, the following terms, words, and phrases as used herein shall have the following meanings: Section 1.1. Act: "Act" shall mean and refer to N.C.G.S.
47C as the same may be amended from time to time.
Section 1.2. Association: 'Association" shall mean and
ein shall have the following meanings: Section 1.1. Act: "Act" shall mean and refer to N.C.G.S.
47C as the same may be amended from time to time.
Section 1.2. Association: 'Association" shall mean and refer to Riparian Village Extension HOA, Inc., a organized and existing under corporation the Non-profit Corporation Act of the State of North Carolina pursuant to and in accordance with this Declaration, the By-Laws, and the North Carolina Condominium Act.
Section 1.3. Building: "Building" shall mean and refer to a structure containing condominium units located upon the Land.
Section 1.4. By-Laws: "By-Laws shall mean and refer to the By-Laws of the Association, which are incorporated herein by reference, and all amendments to such By-Laws which may from time to time be adopted.
Section 1.5.
Common Elements: "Common Elements" shall mean and refer to all portions of the condominiums other than the units, and as more particularly described in Article V, Section 5.1 of this Declaration.
BOOK PAGE 1539 0376 Section 1.6. Common Expenses: "Common Expenses" shall mean and refer to expenditures made by or financial liabilities of the Association , together with any allocations to reserves, pursuant to and in accordance with this Declaration, the By-Laws, and the North Carolina Condominium Act, as defined in N.C.G.S. 47C-1103(6 ).
Section 1.7. Condominium: "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 1.8. Condominium Documents: "Condominium Documents" shall mean and refer to this Declaration, the Articles of Incorporation of Riparian Village Extension HOA, Inc. and the rules and regulations governing the use of the amended
: "Condominium Documents" shall mean and refer to this Declaration, the Articles of Incorporation of Riparian Village Extension HOA, Inc. and the rules and regulations governing the use of the amended and supplemented from time to time, Property, as and exhibits thereto.
and all attachments Section 1.9. Declarant: "Declarant" shall mean and refer to AT -HOMEPROGRAM, LTD., PENSION PLAN, its successor in fee ownership of all remaining Units unsold to otherwise defined in N.C.G.S. 47C-1-103(9).
purchasers or as Section 1.10. Executive Board: "Executive Board" shall mean and refer to the governing body, also known as The Board of Directors, from time to time of the Association as constituted in accordance with this Declaration, the Articles of Incorporation of the Association , the By-Laws and the North Condominium Act.
Carolina Section 1.11. Land: "Land" shall mean and refer to real property subject to this Declaration, exclusive of improvements located thereon or incorporated therein.
the any "Limited Common Section 1.12. Limited Common Elements: Elements" shall mean and refer to those portions of the Common Elements allocated by the Declaration or the terms of the North Carolina Condominium Act for the exclusive use and benefit of one or more but fewer than all of the Units, as in Article V, Section 5.2, hereinbelow, and Plans.
more fully described as depicted on the Section 1.13. Mortgage: "Mortgage" shall mean and refer to a mortgage or deed of trust constituting a lien on a Unit.
Section 1.14. Mortgagee: "Mortgagee" shall mean and refer to the owner and holder of a Mortgage.
Section 1.15. Owner; Owners: "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of fee simple title to any Unit but shall exclude those persons or
f a Mortgage.
Section 1.15. Owner; Owners: "Owner" shall mean and refer to the record owner, whether one or more persons or entities, of fee simple title to any Unit but shall exclude those persons or entities having an interest in any Unit the payment or performance of as merely security for an obligation "Owners" shall mean and refer to all or a portion of such record owners collectively.
Section 1.16. Plans: "Plans" shall mean and refer to the plans and specifications of the Buildings and Property recorded under the name of the Condominium in the Condominium Plans Book in the Office of the Register of Deeds of New Hanover County and which are incorporated herein by reference.
Section 1.17, Property: "Property" shall mean and refer to the Land; the Buildings and all other improvements and structures located on the Land; all easements, rights and appurtenances belonging or appertaining to the Land; and personal property all articles of intended for common therewith.
use in connection Section 1.18. Unit: "Unit" means condominium designated for separate ownership or occupancy, a physical portion of the boundaries of which the are described pursuant 105(a)(5).
to N.C.G.S. 47C-250349 RV 3 2 50349 RV-3 Cour 1539 0377 Declaration: Section 1.19.
"Declaration" means any instruments, however denominated, which create a condominium, and any amendments to those instruments.
Section 1.20. Development Rights: "Development Rights" means any right or combination of rights reserved by a declarant in the declaration to add real estate to a condominium; to create units, common elements, or limited common elements within condominium; to subdivide units or convert units into common elements; or to withdraw real estate from a condominium.
a
condominium; to create units, common elements, or limited common elements within condominium; to subdivide units or convert units into common elements; or to withdraw real estate from a condominium.
a Section 1.21. Special Declarant Rights: "Special Declarant Rights " means rights reserved for the benefit of a declarant to complete improvements indicated on plats and plans filed with the Declaration (Section 47C-2-110); to maintain sales offices; management offices, signs, advertising the condominium, and models ( Section 47C-2-115); to use easements through the common elements for the purpose of making improvements within the condominium or within real estate which may be added to the condominium (Section 47c-2-116)%;B to make the condominium part of a larger condominium (Section 47C-2-121); or to appoint or remove any officer of the association or any executive board member during any period of declarant control (Section 47C-3-103(3)).
In addition, those definitions set forth in N.C.G.S. 47C-1103 are incorporated herein by reference, and the terms defined therein shall have the meanings set forth therein when used in this Declaration or the Condominium Documents unless expressly defined otherwise in this Declaration or unless it is plainly evident from the context that a different meaning is intended.
ARTICLE II DESIGNATION OF CONDOMINIUM The land on which the Buildings and other improvements are located is located near the Town of Carolina Beach, New Hanover County, North Carolina, and is particularly described on Exhibit "A" attached hereto and incorporated herein by reference, which land is subjected to the terms of the North Carolina Condominium Act by this Declaration. The name of the Condominium is Riparian Village Extension .
ARTICLE III
ncorporated herein by reference, which land is subjected to the terms of the North Carolina Condominium Act by this Declaration. The name of the Condominium is Riparian Village Extension .
ARTICLE III DESCRIPTION OF BUILDINGS Riparian Village Extension Condominiums shall consist of (21) buildings containing eighty-four ( 84 ) residential condominium units. Each until shall contain approximately 1100 square feet as depicted on the building plans which are incorporated herein by reference. The building shall be constructed on site and is more particularly described in the Plans which are recorded under the name of the Condominium in the Condominium Plans Book in the New Hanover County Register of Deeds Office, which plans show all particulars of the building and are incorporated hereby by reference. Such plans contain all certifications and information required by N.C.G.S. 47C-2-109.
ARTICLE IV DESCRIPTION OF UNITS There are a total of eighty-four (84) Units in the buildings constituting Riparian Village Extension Condominiums.
The location of the buildings are shown on the Plans filed in the Office of the Register of Deeds and incorporated herein by reference.
The designation of the units, locations, identifying numbers, approximate area, number of rooms and immediate elements to which each has access, are also shown on the plans, to which reference is hereby made for а more particular common description.
3 50349 RV 3 PAGE 1539 0378 Each Each unit consists of all the space bounded horizontally and vertically by its perimeter walls, floors and ceilings.
unit includes those portions of the Buildings within such boundaries ( with the exception of those items specifically listed below) and the space so encompassed. All lath, wallboard, plasterboard , plaster, furring,
hose portions of the Buildings within such boundaries ( with the exception of those items specifically listed below) and the space so encompassed. All lath, wallboard, plasterboard , plaster, furring, paneling, tiles, paint, finished flooring and other materials constituting wallpaper, part of the finished surfaces thereof are a part of the unit; and all other portions of such walls, floors or ceilings are part of the common elements.
unit is a that unit, any If any chute, flue, duct, wire, conduit, bearing, wall, bearing column, or any other fixture lies partially within and partially outside the designated boundaries of portion thereof serving only that a unit, any element allocated exclusively to limited common thereof serving more than one unit or any portion of the common and any portion elements is a part of the common elements.
provisions of Subject to the the immediate preceding paragraph, all interior partitions , and other fixtures and improvements within the boundaries of a unit are a part of that unit.
spaces, Any shutters, awnings, window boxes, door steps, decks , porches, balconies, patios and stoops, all exterior windows or other fixtures designated to serve a single unit but doors and located outside the unit's boundaries are limited common elements allocated exclusively to that unit.
All windows and doors within the walls enclosing shall be a common element of that unit, but the authority and a unit responsibility for maintenance and painting, together with control over the exterior decorating, of all doors and windows visible from the exterior of the building or element , shall remain with the Association.
from any common broken glass in a window that is a common element of a unit shall Replacement of any be the sole
sible from the exterior of the building or element , shall remain with the Association.
from any common broken glass in a window that is a common element of a unit shall Replacement of any be the sole responsibility and expense of the owner or owners of that unit, routine maintenance and repair of all lath, furring, wallboard, plasterboard, plaster and subflooring beneath, above, and/or beyond the finished surfaces of the perimeter walls, floor and ceiling of each unit shall be the sole responsibility of the unit owner, although such materials are part of the common elements.
ARTICLE V COMMON ELEMENTS Section 5.1. Common Elements: The Common Elements include all portions of the Condominium that are not part of the Units and as are more particularly described including without limitation: in N.C.G.S.
47C-2-102, (a) The Land; that (b) All improvements located upon the Land are not part of the Units, including all foundations, columns, girders, beams, supports, walls, corridors, lobbies, stairs, fire escapes, and entrances and exists of the Buildings; roofs, (c) The yards, gardens, swimming pool, parking areas and driveways; and for the (d) Installation of central services furnishing of utilities and components of the heating and air conditioning systems that serve Elements or serve more than one Unit.
Section 5.2. Limited Common Elements: Elements shall be composed of the following: the Common The Limited Common 4 Bour PAGE 1539 0379 (a) Those portions of any chute, flue, duct, wire, conduit , bearing wall, bearing column, or any other fixture lying partially within and partially outside the designated boundaries of a Unit serving exclusively that Unit shall be Limited Common Elements allocated exclusively to that Unit; (b) Any shutters, awnings, window boxes, doorsteps
tially outside the designated boundaries of a Unit serving exclusively that Unit shall be Limited Common Elements allocated exclusively to that Unit; (b) Any shutters, awnings, window boxes, doorsteps , stoops, porches, balconies, patios, decks and all exterior doors, windows and skylights designed to serve a single Unit, but located outside the Unit's boundaries, shall be Limited Common Elements allocated exclusively to that Unit; and (c) Any portions of the heating, ventilating, and air conditioning systems, including fans, fan coil units, heating elements, return air grills and thermostats, whether located inside or located outside the designated boundaries of a Unit, shall be Limited Common Elements allocated exclusively to the Unit that they serve.
(d) Such other areas designated as limited common areas in the Plans.
paintThe cleanliness and orderliness of the Elements shall be the responsibility of the individual Owner or Limited Common Owners having the right to the use and enjoyment of such Limited Common Elements, but the responsibility for maintenance, ing, repair and replacement, together with exterior decoration of the Limited Common Elements, shall remain control over the with the Association.
this Declaration, Notwithstanding any other provisions of or any provision of Ownership Act, the By-Laws or the Unit the obligations for maintenance, replacement of any portions of the heating, ventilating and air repair, or conditioning systems that are Limited Common Elements shall be the sole responsibility of the Owners of the Units to which such Limited Common Elements are allocated.
Common Elements shall include Limited Common Elements unless the References herein to context clearly indicates otherwise.
Limited The allocation of Common Elements use of
mmon Elements are allocated.
Common Elements shall include Limited Common Elements unless the References herein to context clearly indicates otherwise.
Limited The allocation of Common Elements use of to the Units Declaration shall not be altered without the unanimous consent of as provided for in this the Owners whose Units are affected.
Section 5.2. Undivided Interest Elements : of Owners Except for minor variations due in Common of the undivided to rounding, the sum interest in the Common Expense liabilities allocated at any time to all the Units shall Elements and Common each equal one hundred percent (100%).
interest in the Common Elements allocated to each Unit shall be The percentage of as indicated on Exhibit "B" herein by reference.
attached hereto and incorporated The percentage of undivided interest in the Common Elements that is allocated determined by a ratio formulated upon the approximate relation to each Unit has been that the square footage of each Declaration bears to the then aggregate square footage of all the Unit at the date of this Units. The square footage of each Unit and the aggregate square footage of all Units have been determined by Declarant, and its determination shall be binding upon all percentage of undivided interest in the Common Elements assigned Units and Owners. The to each Unit shall not consent of all the Owners of all the Units and with the consent be changed except with the unanimous of all the Mortgagees .
ARTICLE VI PURPOSES FOR WHICH BUILDING AND UNITS ARE INTENDED TO BE USED, AND RESTRICTIONS ON USE Section 6.1. Unit Use: residential purposes only.
All Units shall be used for 50349 RV 3 5 50349 RV.3 2006 1539 PASE 0380 Section 6.2. Nuisance: No obnoxious, offensive or unlawful activity shall be
E Section 6.1. Unit Use: residential purposes only.
All Units shall be used for 50349 RV 3 5 50349 RV.3 2006 1539 PASE 0380 Section 6.2. Nuisance: No obnoxious, offensive or unlawful activity shall be conducted within any Unit, or on or Common Elements , about the nor shall anything be done thereon or therein which may be or which may become an annoyance or nuisance to the other Owners.
The supplies, common Section 6.3. Prohibitions and Use of Common Elements: Common Elements shall not be used for storage of personal property or trash or refuse of any kind except trash receptacles placed at the discretion of the Executive Board.
Stairs, entrances , sidewalks, yards, driveways, and parking areas shall not be obstructed in any way.
shall be carried on nor conditions maintained by any owner either In general, no activity in his Unit or upon the Common Elements which despoils the appearance of the Property .
Section 6.4. Shrubbery: No Owner shall plant or permit to remain on the Property any type of hedge, shrubbery or plantings except other with the prior written Association.
permission of the or Section 6.5. Parking: No Owner or any employee, agent, invitee of any Owner shall park, store or keep any vehicle except wholly within those portions of the Common for such use by the Association.
Elements designated Section 6.6. Regulations: Reasonable regulations governing the use of the Property may be made and amended from time to time by the Executive Board .
Section 6.7. Hazardous Activities: Nothing shall be done or kept in any Unit or in the Common Elements which will the rate of insurance on the Common Elements or any Unit.
increase Section 6.8. Signs: No signs, flags or banners of any kind shall be displayed to the public view from any Unit or Common Elements.
from the
te of insurance on the Common Elements or any Unit.
increase Section 6.8. Signs: No signs, flags or banners of any kind shall be displayed to the public view from any Unit or Common Elements.
from the Section 6.9. Declarant's Use of Units: the Declaration or Any provisions of the North Carolina Condominium Act contrary notwithstanding, to the Declarant shall utilize any Unit or Units owned by it as have the right to offices , a model Unit(s) or sales and to erect and maintain a sign or Property for the purpose of advertising Units owned by it signs on the sale or lease.
for These rights shall exist so long as Declarant is a Unit Owner.
ARTICLE VII SERVICE OF PROCESS David Rouen is hereby designated to receive service of process in any action which may be brought against relation to the Condominium.
or in 'S place of David Roven business is 4-D Pleasure Island Plaza, Carolina Berch North Carolina, ARTICLE VIII RIPARIAN VILLAGE EXTENSION HOA, INC.
and A Section 8.1. Organization of Association: North Carolina corporation known nonprofit Village Extension HCA, designated as Riparian Inc. (the "Association" will be organized ) has been or to provide for the administration Property, and the Association shall administer the operation and of the maintenance of the Property and undertake and perform all acts and duties incident thereto in accordance with the terms of its Articles of Incorporation, the By-Laws, Condominium Act .
and the North Carolina Every Owner shall be required to be and shall automatically be a member of the ownership interest in a Unit.
Association by virtue of his 300P PACE 1539 0381 Powers; Lien for Assessment: IX Section 8.2.
In the administration of the operation and management of the Property, the Association shall have
a Unit.
Association by virtue of his 300P PACE 1539 0381 Powers; Lien for Assessment: IX Section 8.2.
In the administration of the operation and management of the Property, the Association shall have and it is hereby granted the authority and power to enforce the provisions of this Declaration, to levy and collect assessments in the manner provided in Article hereto and in the By-Laws, and to adopt, such rules and regulations governing the promulgate and enforce use of the Units and Common Elements as the Executive Board may deem to be in the best interest of the Association in accordance with the By-laws.
sum assessed by the Association remaining unpaid for a period of Any thirty (30) days or longer shall constitute a lien on with respect to the Unit which such sum was assessed accordance with N.C.G.S. 47C-3-116, upon filing in and shall be enforceable by the Association in accordance with N.C.G.S. 47C-3-116 and the ByLaws.
to Section 8.3. Period of Declarant Control: The Executive Board shall be appointed by the Declarant until the earlier occur (i) one hundred twenty (120) days after Units, to which conveyance of seventy-five percentage of the ownership appertain; percent (758) of the total the Declarant ceases or (ii) two years after to offer any Units for sale in the ordinary course of business. Provided, however, that no later than sixty (60) days after conveyance of Units to which twenty-five percent (25%) of the total percentage of ownership appertain Owners other than to Unit the Declarant, at least less one member, and than twenty-five percent (25%) of not the elected by Unit members shall be Owners other than the Declarant.
further that not later than sixty (60) days after conveyance of Provided Units to which fifty percent (50%) of
ercent (25%) of not the elected by Unit members shall be Owners other than the Declarant.
further that not later than sixty (60) days after conveyance of Provided Units to which fifty percent (50%) of ownership appertain to Unit Owners other than the Declarant, not the total percentage of less than thirtythree percent elected by Unit Owners other than the Declarant.
(338) of the members shall be ARTICLE IX EASEMENTS AND PROPERTY RIGHTS Section 9.1. Easements of Owners and Executive Board with Respect to Common Elements: Each Owner shall have a perpetual, nonexclusive easement in common with all other Owners to use all pipes, chutes, wires, ducts, lines, to cables, conduits, and other Common Elements public utility located in Units and serving his Unit.
any of the other Each Unit shall perpetual nonexclusive easement be subject to a in favor of all other Owners use the pipes, chutes, wires, ducts, utility lines, and other Common Elements serving such other Units cables, conduits, public and located in such Unit.
The Executive Board, authorized by it, shall have the right of access to each Unit and or any person to the Limited Common Elements to the extent performance by the Association of its obligations of maintenance, necessary for repair or replacement of the Common Elements.
the settling a as a there the Section 9.2. Encroachment Easements: Common Elements If any portion of the now encroaches upon any Unit, or if any Unit now encroaches upon any other Unit or upon any portion of the Common Elements, or if such Encroachment shall result of occur hereafter or shifting of shall exist the Building(s), valid easement for the Encroachment and for maintenance of same for so long as the Building(s) shall stand.
In the event the Building(s), any Unit, Common
r or shifting of shall exist the Building(s), valid easement for the Encroachment and for maintenance of same for so long as the Building(s) shall stand.
In the event the Building(s), any Unit, Common Elements shall be partially or totally destroyed by fire or any portion of the or other casualty or as a result of condemnation domain proceedings, and shall thereafter be rebuilt, Encroachment or eminent of parts of the Common Elements upon any Unit or upon any portion of the Common Elements due to such rebuilding shall be permitted, and valid easements for such encroachments and the maintenance thereof shall exist so long as the Building(s) shall stand.
The Section 9.3. Granting of Easements by Executive Board: Executive Board may hereafter purposes for the benefit of the Property including the right to grant easements for utility install, lay, maintain, repair and replace water lines; pipes, 50349 RV-3 7 200* PAGE 1539 0382 ducts; sewer lines; steam and water lines; gas mains; telephone and television or cable television wires, cables and equipment; electrical conduits; and wires over, portion of the Common Elements; and each Owner hereby grants the under, along and on any Executive Board an irrevocable power of attorney acknowledge and record for and in the name of each Owner such to execute, instruments as may be necessary to effectuate the foregoing.
case of any emergency Section 9.4. Emergency Access: In originating in or threatening any Unit regardless of whether the Owner is present at or the Common Elements, emergency, the Executive Board, or any other person authorized by the time of such shall have the right to enter any Unit for the purpose of remedying or abating the cause of such emergency and making any other necessary repairs not performed by the Owners,
rized by the time of such shall have the right to enter any Unit for the purpose of remedying or abating the cause of such emergency and making any other necessary repairs not performed by the Owners, right of entry shall be immediate.
it, and such Section 9.5. Easement for Ingress and Egress and Reservation of Alienable Easements by Declarant: reserved for pedestrian traffic over, Ingress and egress is walks, paths, walks, and lanes as the same from time to time may through and across sideexist upon the Common Elements and facilities; and for vehicular traffic over, through and across all streets as from time to time may be paved and intended for such purposes, for all Unit Owners in Riparian Village Extension Condominiums, their guests, the Declarant, their and lessees, invitees successors and assigns.
the Association, Section 9.6. Alterations: Units may be altered pursuant to N.C.G.S. 47C-2-111; provided each of the following conditions are met: (a) Before commencing any alteration of the Unit, the Owner of such Unit shall notify the Association in writing.
(b) The materials and construction methods used in altering the Units must be substantially the same the materials and construction methods used for existing walls in the Building.
be performed which affect (c) No work shall and adversely as would materially soundness and integrity of the Building or any portion the structural thereof.
(d) The Owner of the Unit being altered shall have the sole responsibility for payment of all costs of all work performed, and for assuring that performed in a workmanlike manner.
all work is Unit shall indemnify and hold the Association and all The Owner of the other Owners harmless from and against any loss, cost or damage arising out of such alteration.
and all or or no
ner.
all work is Unit shall indemnify and hold the Association and all The Owner of the other Owners harmless from and against any loss, cost or damage arising out of such alteration.
and all or or no Section 9.7. Conveyance of or Elements : Lien Against the Common While the Property remains subject to this Declaration and to the provisions of the North Carolina Condominium Act, conveyance of or liens of any nature shall arise or against the Common Elements except with the written consent of be created all the Owners and the Mortgagees .
performance of labor Every agreement for the Elements whether oral the furnishing of materials to Common subject to the right to file a mechanic's lien or other similar in writing must provide that it is lien by reason of labor performed subordinated to this Declaration and to the lien of or material furnished is for Common Expenses provided for in Article VIII, Section 8.2 of assessments this Declaration. Provided, however, that nothing be construed to limit in this the right of any Owner interest in the Common connection with the Section shall convey or to Elements as an encumber his appurtenance undivided to and in conveyance or mortgaging of his Unit.
to 50349 RV 8 50349 RV 3 Buor PAGE 1539 0383 Owner Section 9.8. Nature of Interest in Unit: Every Unit, together with its allocated interests in the Common Elements, shall for all purposes be and it is hereby declared to be and to constitute a separate parcel of real property and the thereof shall be entitled to the exclusive fee simple ownership and possession of his Unit subject only to the conditions , covenants, restrictions, easements, uses, limitations obligations, rules, regulations, resolutions and decisions, adopted pursuant hereto and as maybe contained herein and in the
y to the conditions , covenants, restrictions, easements, uses, limitations obligations, rules, regulations, resolutions and decisions, adopted pursuant hereto and as maybe contained herein and in the accompanying By-Laws and in the minutes of the Executive Board of the Association.
Section 9.9. Intent: It is the intent of this Article I✗ to permit alterations within Units. Further, the intent of this Article IX is to prevent the subdivision of or boundaries between adjoining Units.
Section 10.1.
ARTICLE X ASSESSMENTS Taxes: relocation of allocated interest Every Unit, together with its in the Common Elements, shall assessed and taxed by each assessing authority for all types of be separately taxes authorized by law . Each Owner shall be liable solely for the amount taxed against his individual Unit; provided, however, the Units will not be separately assessed until the calendar year 1992 with respect to ad valorem property taxes.
Section 10.2. Common Expenses: Each Owner shall contribute a percentage share of the Common Expenses equal to such Owner's percentage of allocated interest in the Common Elements, all in accordance with the definition of Common Expenses set Article I, Section 1.5 hereinabove; the provisions of the North Carolina Condominium Act.
payment of such Common Expenses shall be Executive Board and shall be collected at forth in By-Laws; and the Due dates for established by the least quarterly.
"Common Surplus" Section 10.3. Common Surplus: The term means and refers to all funds and other assets of the Association, including excess of receipts of the Association from assessments, rents , profits and revenues from whatever over the amount of Common Expenses.
owned by the to source The Common Surplus shall be
ion, including excess of receipts of the Association from assessments, rents , profits and revenues from whatever over the amount of Common Expenses.
owned by the to source The Common Surplus shall be Owners in the same proportion that the undivided interest in Common Elements bears appurtenant to each Owner's Unit the total of all such appurtenant Common interests in the Elements; provided, however, that said shall be held by the Association in the manner and subject to the Common Surplus terms, provisions and conditions of this Declaration certain limitations imposing distribution thereof.
upon the use and Except for distribution of any insurance proceeds herein provided, or upon termination of the Condominium, any attribution or distribution of Common Surplus which may be made from time to time shall be made to the accordance with their percentage interests declared herein.
and restrictions then Owners in in Common Surplus as Association Section 10.4. Assessments in General: The shall be empowered to levy assessment against the Owners of Units within the Condominium for the payment of expenditures made by the Association for the purposes of insurance, payment of taxes, maintenance of recreation and other providing liability facilities located in the Common Area, payment of assessments for public and private capital improvements made benefit of the Common Areas located within the Condominium.
to or for the such assessments that Any remain unpaid by the shall constitute a Owner of any Unit lien on the Unit of the Owner.
further provided that upon default by It shall be the Association payment to the governmental authority entitled thereto of any ad in the valorem taxes levied against the Common Areas or assessments public improvements to the Common Areas, which default
Association payment to the governmental authority entitled thereto of any ad in the valorem taxes levied against the Common Areas or assessments public improvements to the Common Areas, which default continue for a period of six (6) months, each Owner of a Unit the Condominium shall become personally obligated to pay the tax for shall in 50349 RV 30 Buer PAGE 1539 0384 taxes assessing governmental authority a portion of such taxes or assessments in an amount determined by dividing the total and/or assessments due by the percentage of ownership of each Unit Owner in the Condominium. If such sum Owner within thirty (30) days following receipt of notice of the is not paid by the amount due, then such sum shall become a continuing lien on the the then Owner, his heirs, devisees, personal representatives and assigns, and the taxing or assessing governmental authority may either bring an action at law against the Owner personally obligated to pay the same or may elect to foreclose the lien against the property of the Owner.
Unit of ARTICLE XI INSURANCE Section 11.1. Property Insurance: The Executive Board that shall obtain and maintain at all times insurance on the Building and all other improvements upon the Land, and all property included personal in the Common Elements in an application of deductibles, equal to the replacement value of the amount, after Property at the time such insurance is purchased and at the time of each renewal thereof, exclusive of the cost of the Land, excavation, foundations, streets and parking facilities and other items normally excluded from property policies; provided, such insurance may be written on a co-insurance basis of not less than ninety percent (908). The policies evidencing such coverage shall insure against all risks of direct
property policies; provided, such insurance may be written on a co-insurance basis of not less than ninety percent (908). The policies evidencing such coverage shall insure against all risks of direct physical loss including fire and extended coverage perils; shall contain clauses providing for waiver of subrogation against any Owner or member of his household and any Owner's employees or contain the standard condominium endorsement, agents; shall Cost Endorsement providing for repair and replacement of a Replacement Building and all other improvements located upon the Land from the insurance proceeds; shall provide that such policies may not be canceled or substantially modified without at (30) days' prior written notice to all the insured, including all least thirty Mortgagees; and shall provide that no act or omission by any Owner, unless acting within the scope of his authority on behalf of the Association, will preclude recovery upon such policy.
such policies shall provide that adjustment of loss shall be made All by the Executive Board as insurance trustee.
comply with N.C.G.S.
All policies shall the Each policy shall provide for issuance of certificates or mortgage endorsements Mortgagees.
47C-3-113.
and the to Section 11.2. Public Liability Insurance: Board shall be required to The Executive obtain and maintain obtainable public liability insurance to the extent in such Executive Board may, from time to time, determine, covering each limits as the member of the Executive Board, the managing agent, each Owner with respect to liability arising out of ownership, if any, and maintenance or repair of the Common Elements; provided, however, that in no event shall the amounts of insurance such public liability ever be less than $500,000.00
ising out of ownership, if any, and maintenance or repair of the Common Elements; provided, however, that in no event shall the amounts of insurance such public liability ever be less than $500,000.00 $1,000,000.00 per occurrence against liability for bodily injury, per person and including death resulting therefrom, and occurrence against liability for damage to property, including $50,000.00 per loss of use thereof, occurring upon, in or about, or arising from or relating to, the Property or insurance shall any portion thereof. Such include endorsements covering cross claims of one insured against another, including the liability of liability the Owners as a group to a single Owner.
shall review such limits annually.
The Executive Board comply with the requirements such policy shall set forth in N.C.G.S. 47C-3-113(a) and (d) (1) through (4).
Further, Section 11.3. Fidelity Coverage: The Executive Board shall be required to obtain fidelity coverage against dishonest acts on the part of all persons responsible for handling funds belonging to or administered by the Association.
policy must name The fidelity insurance the Association as the named insured and shall be written in an amount not less than the estimated maximum of 10 300K 1539 PAGE 0385 funds, including reserve funds in the custody of the Association or its duly authorized agent, as the case may be, at any given time during the term of each bond.
In no event, however, may the aggregate amount of such bonds be less than a sum equal to three (3) months ' aggregate assessments on all Units plus the amount of all reserve funds . An appropriate endorsement to the policy to cover any persons who serve without compensation shall be added if the policy would not otherwise cover volunteers.
insurance
amount of all reserve funds . An appropriate endorsement to the policy to cover any persons who serve without compensation shall be added if the policy would not otherwise cover volunteers.
insurance policy shall also provide that it may not be canceled The fidelity or substantially modified (including cancellation for nonpayment of premiums) without at least thirty (30) notice to the insured and all Mortgagees.
days prior written Section 11.4. Other Insurance Policies: Board The Executive shall be authorized to obtain such other insurance coverage, including workman's compensation, Board shall determine from time to time desirable or necessary.
as the Executive Section 11.5. Premiums: Premiums upon insurance policies purchased by the Executive Board shall be paid by the Executive Board and charged as a Common Expense.
All Section 11.6. Distribution of Insurance Proceeds: insurance policies procured by the Executive Board shall provide that all losses shall be adjusted with and all proceeds shall be payable to the Executive Board as insurance trustee.
duty of the Executive Board The sole as insurance receive such proceeds as trustee shall be to are paid and to hold the same in trust for the purposes set forth herein and for the benefit of Owners and their Mortgagees in the following shares: the (a) Proceeds on account of damage to Elements shall be held the Common in undivided shares for each Owner and his Mortgagee, if any, each Owner's share to be the same as such Owner's allocated interest in the Common Elements.
(b) Proceeds on account of damage to Units shall be held in the following undivided shares: ( 1) When the damage is to be restored, for the Owners of damaged Units in proportion to the cost of repairing the damage suffered by each Owner, which
shall be held in the following undivided shares: ( 1) When the damage is to be restored, for the Owners of damaged Units in proportion to the cost of repairing the damage suffered by each Owner, which cost shall be determined by the Executive Board.
(2) When the damage is not to be restored an undivided share for each Owner, such share being the same as each such Owner's allocated interest in the Common Elements.
or (c) In the event a mortgagee endorsement certificate has been issued with respect to a Unit, the share of the Owner shall be held in trust for Mortgagee and the Owner the as their respective interest may appear.
(d) Proceeds of insurance policies received by the Executive Board as insurance trustee distributed to or for the benefit of the Owners in the shall be following manner : (1) If it is determined, as Article XII hereinbelow, that the damaged property provided in with respect to which the proceeds are paid shall not be reconstructed or repaired, the shall be distributed Lienholders, if any, as their interest may appear.
Notwithstanding the provisions of this subsection, Section 47C-2-118 governs the insurance to the Owners proceeds and their distribution of proceeds if the condominium is 50349 RV 3 terminated.
11 50349 RV.3 Bour PAGE 1539 6386 (2) If the damage for which the proceeds were paid is to be repaired or reconstructed, the proceeds shall be paid to defray the costs thereof.
Any proceeds remaining after payment of such repair costs shall 'be distributed to the beneficial Owners and their Lienholders, if any, as their interest may appear.
Section 11.7. Insurance obtained by Owners: It shall be the responsibility (but not the obligation) of each Owner to obtain at his own expense such additional fire and casualty and extended coverage
.
Section 11.7. Insurance obtained by Owners: It shall be the responsibility (but not the obligation) of each Owner to obtain at his own expense such additional fire and casualty and extended coverage insurance upon his personal property, public liability insurance, and such other insurance coverage as he may desire.
ARTICLE XII DUTY TO REPAIR OR RECONSTRUCT or ordinance, local Section 12.1. Reconstruction and Repair: In the event of damage to or destruction of the Building as a result of fire or other casualty , unless (1) the condominium is terminated, (2) repair or replacement would be illegal under any state or health or safety statute decide not to rebuild by an eighty percent (80%) vote, including or (3) the Unit Owners one hundred percent (100%) approval of Units not to be rebuilt or Owners assigned to Limited Common Elements not to be rebuilt, the Executive Board shall arrange for the restoration of the damaged or destroyed Building not including prompt repair and any decoration or covering for walls, ceilings, or floors, or furniture, furnishings, fixtures or equipment, unless the subject insurance policy covers a portion or all of which event such loss, in the Board shall repair or replace such damaged property, and the Executive Board shall disburse the proceeds of all insurance policies to the contractors engaged in such repair and restoration in appropriate progress accordance with the provisions of Section 11.6(d) payments and in Declaration.
(2) of this Any payment for repair and restoration in excess of the insurance proceeds shall constitute a Common Expense.
Reconstruction or repair shall be in accordance with the Plans or Any as the Executive Board shall otherwise approve.
Section 12.2. Obligations of Owners: Each Owner will, at his sole cost
on Expense.
Reconstruction or repair shall be in accordance with the Plans or Any as the Executive Board shall otherwise approve.
Section 12.2. Obligations of Owners: Each Owner will, at his sole cost and expense, keep and maintain his Unit order and repair in accordance with the Plans or as the Executive in good Board shall otherwise approve, and will make no addition, alteration or improvement to his Unit without the prior structural written consent of the Executive Board, in Section 9.6 of this Declaration.
except as authorized Upon the failure of an Owner to so maintain his Unit, the Executive Board shall be authorized to maintain, repair or restore such Unit, and the cost thereof shall be charged to such Owner and constitute a lien on the Unit until paid.
ARTICLE XIII UNITS SUBJECT TO CONDOMINIUM DOCUMENTS All present and future Owners, tenants, and occupants of the Units shall be subject to and shall comply with the provisions of this Declaration, the By-Laws and any rules and regulations as may be adopted in accordance with the Declaration, By-laws, and rules and regulations may be amended By-Laws, as said and supplemented from time to time.
conveyance or the entering into of a lease or The acceptance of a deed of occupancy of the entering into any Unit shall constitute an provisions of agreement that this Declaration, the regulations which may be adopted are accepted ratified by such the By-Laws and any rules and Owner, tenant or occupant, and an agreement that such provisions shall be deemed and taken to be covenants running with the Land and shall bind any person having at estate in such Units as though such provisions were made a any time any interest or of each and every deed of conveyance or lease.
part 12 50349 RV 3 PAOF ARTICLE XIV 1539 0387
nd any person having at estate in such Units as though such provisions were made a any time any interest or of each and every deed of conveyance or lease.
part 12 50349 RV 3 PAOF ARTICLE XIV 1539 0387 AMENDMENT TO AND SUPPLEMENT OF DECLARATION this Except as is otherwise specifically authorized herein, Declaration may be amended only by the vote of the Owners of Units to which at least sixty-seven percent (678) of the ownership of the Association is allocated, together with the consent of their respective Mortgagees, cast in person or by proxy at a meeting duly held in accordance with the provisions of the By-Laws. Any amendment which amends or alters the percentage of allocated interests of any Unit in the Common Elements, increases the number of Units, changes the boundaries of any Unit , creates or increases special declarant rights or changes the use to which any Unit is restricted shall require the written approval of all Owners, together with the consent of all their respective Mortgagees. No amendment to the Declaration shall be effective until executed on behalf of the Association by any officer designated for that purpose or, in the absence of designation, by the president of the Association, and recorded in the Office of the Register of Deeds of New Hanover County, North Carolina. No amendment to this Declaration shall be adopted or passed which shall impair or prejudice the rights and priorities of any Mortgagee without the consent of such Mortgagee. No amendment to this Declaration shall be adopted or passed which shall impair or prejudice the rights of Declarant provided for in the Condominium Documents, without the consent of Declarant.
ARTICLE XV TERMINATION The Condominium may be terminated only in strict compliance with N.C.G.S. 47C
he rights of Declarant provided for in the Condominium Documents, without the consent of Declarant.
ARTICLE XV TERMINATION The Condominium may be terminated only in strict compliance with N.C.G.S. 47C -2-118, as the same may be amended from time to time.
ARTICLE XVI RIGHTS RESERVED TO MORTGAGEES and Section 16.1. Rights of Mortgagees to Examine Books Records : Any Mortagee, and any insurer or guarantor of a loan secured by a Mortgage, shall have the right to examine, during normal business hours and upon reasonable notice, the books and records of the Association, including copies of the Condominium Documents, as amended , and the financial statements of Association , and to be furnished, upon written request, at least the one copy of the annual financial statement Association, and report of the such annual statement and report to be furnished within ninety (90) days following the end of each fiscal year.
Section 16.2. Mortgagees Rights το Notice: If any Mortgagee , or any guarantor or insurer of a loan secured by a Mortgage, has served written notice of its desire to receive notices under this Section 16.2 upon the Association by certified mail, return receipt requested, addressed to the Association and sent to its address stated herein, identifying the Mortgage that it holds, guarantees, or insures, which notice designates the place to which notices are to be given by the Association to such party, then such party shall have the right to receive from the Association prompt written notice of the following: (a) Default under any of the terms and provisions of the Condominium Documents by any Owner owning a Unit encumbered by a Mortgage held, insured or guaranteed by such party.
(b) Any loss or damage to cr condemnation or taking of the Co amon Elements or any loss ΟΙ
nium Documents by any Owner owning a Unit encumbered by a Mortgage held, insured or guaranteed by such party.
(b) Any loss or damage to cr condemnation or taking of the Co amon Elements or any loss ΟΙ damage to or condemnation or taking of a Unit encumbered by a Mortgage held, insured or guaranteed by such Mortgagee.
or (c) Any lapse, cancellation modification of any insurance policy or bond maintained by the Association.
material fidelity 13 B00X PAGE 1539 0388 (d) Any proposed action by the Association, the Executive Board, or the Owners, which under the terms of the portion of the Mortgagees.
ARTICLE XVII EMINENT DOMAIN Section 17.1. Taking of a Unit: If eminent domain, a Unit is acquired by or if a part of a domain leaving the Unit is acquired by eminent Unit Owner with a practically or lawfully be sued for any purpose permitted by this remnant which may not Declaration, the award must compensate the Unit Owner of his Unit and its interest in the Common Common Elements are acquired.
Elements, whether or not Unless the condemnor acquires the any right to use the Unit's interest in Common Elements, that Unit's allocated interests are automatically remaining Units reallocated to the proportion to interests of those Units before the taking exclusive of the Unit the respective allocated taken, and the Association shall promptly prepare, record an amendment execute and to allocations.
the Declaration reflecting Any remnant of a there Unit is Unit remaining after part of taken under this subsection Element.
is thereafter a Common in award must a Section 17.2. Taking of Part of a Unit: in Section 17.1 above, if part of Except as provided domain, the a Unit is acquired by eminent reduction in value of the Unit and of its interest in the Common
Section 17.2. Taking of Part of a Unit: in Section 17.1 above, if part of Except as provided domain, the a Unit is acquired by eminent reduction in value of the Unit and of its interest in the Common compensate the Unit Owner for the Elements, whether or not any Common Elements are acquired.
acquisition, unless the decree otherwise provides (1) that Unit's Upon allocated interests are reduced in proportion to the reduction in the size of the Unit, or Declaration, on any other basis specified in the and (2) the portion of divested the from the partially acquired Unit allocated interests reallocated to that Unit and the remaining Units in proportion to is automatically the respective allocated interests of taking, with the partially acquired Unit participating in there those Units before the allocation on the basis of its reduced allocated interests.
Section 17.3. Taking Part of Common Elements: the Common Elements is acquired by eminent domain, the portion of If part of the award not payable to Unit Owners under Section 17.1 must be paid to the Association.
otherwise, Unless the Declaration provides any portion of the acquisition of a Limited Common Element must be apportioned among award attributable to the the Owners of the Units to which that Limited Common Element was allocated at the time of acquisition .
ARTICLE XVIII MISCELLANEOUS PROVISIONS Section 18.1. Invalidity: The invalidity of any provision in of this Declaration shall not be deemed to impair or affect any manner the validity and enforceability of the remainder of this Declaration, and in such event, all the other provisions of this Declaration shall continue in full force and effect as such invalid provision had never been included herein.
if Section 18.2. Waiver: No
claration, and in such event, all the other provisions of this Declaration shall continue in full force and effect as such invalid provision had never been included herein.
if Section 18.2. Waiver: No Declaration shall be deemed to have been abrogated or waived by provisions contained in the reason of any failure to enforce the same, number of violations or breaches which may occur.
irrespective of the Section 18.3. Captions: only as a matter of convenience and for reference and in no way The captions herein are inserted define, limit or describe the scope of this Declaration or the intent of any provision hereof.
It is the Section 18.4. Conflict of Laws: Declarant herein that Riparian Village Extension intent of the with Chapter 47C of the General Statutes of North Carolina as if shall comply such development had been submitted to the provisions of that Chapter.
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