вод STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER BOOK PAGE 2006 0870 DECLARATION OF CONDOMINIUM FOR SALT WORKS STATION RECORDED AND VERIFIED MARY SUE OOTS REGISTER OF DEEDS NEW HANOVER CO. NC '96 MAR 27 PM 2 12 000124 ARTICLE 1 SUBMISSION; DEFINITIONS Section 1.1. Submission of Property. SOUND DEVELOPMENT, a North Carolina general partnership with offices at 428 Eastwood Road, Wilmington, North Carolina 28403 ("Declarant"), the owner in fee simple of the real estate described in Exhibit "A", located within the County of New Hanover, and State of North Carolina, hereby submits such real estate, including all improvements, to be constructed thereon, together with all easements, rights and appurtenances thereunto belonging to the provisions of Chapter 47C of the General Statutes of North Carolina, known as the North Carolina Condominium Act ("Condominium Act"), and hereby creates with respect to said real estate a condominium to be known as "SALT WORKS STATION, A CONDOMINIUM."
Section 1.2.
Definitions.
As used in the Condominium Documents, the following words and phrases shall have the following meanings: a. "Allocated Interests" means the undivided interest in the Common Elements and Common Expense liability, and votes in the Association, allocated to Units in the Condominium. The Allocated Interests are described in Article 7 of this Declaration and shown on Exhibit "B".
b.
"Association" means "Salt Works Station Condominium Association, Inc.", a non-profit corporation organized under Chapter 55A of the General Statutes of North Carolina. It is the Association of Unit Owners pursuant to Section 47C-3-101 of the Condominium Act.
C. "Bylaws" means the Bylaws of the Association, as they may be amended from time to time.
of North Carolina. It is the Association of Unit Owners pursuant to Section 47C-3-101 of the Condominium Act.
C. "Bylaws" means the Bylaws of the Association, as they may be amended from time to time.
d. "Common Elements" means all portions of the Condominium other than the Units.
e.
"Common Expenses" means the expenses or financial liabilities for the operation of the Condominium. These include: "A".
f.
(i) expenses of administration, maintenance, repair or replacement of the Common Elements; (ii) expenses declared to be Common Expenses by the Condominium Documents or by the Condominium Act; (iii) expenses agreed upon as Common Expenses by the Association; and (iv) such reasonable reserves as may be established by the Association, whether held in trust or by the Association, for repair, replacement or addition to the Common Elements or any other real or personal property acquired or held by the Association.
"Condominium" means the real property described in Exhibit Returned To Hogue-till 413760 Book 2006 Page 871 g.
Page 2 "Condominium Documents" means this Declaration, the Plats and Plans recorded and filed pursuant to the provisions of the Condominium Act, the Bylaws, and the Rules and Regulations as they may be amended from time to time. Any exhibit, schedule, or certification accompanying a Condominium Document is a part of that Condominium Document.
h. "Declarant" means Sound Development, a North Carolina general partnership, its successors and/or assigns as defined in Section 47C-1-103(9) of the Condominium Act.
i. "Development Rights" means any rights reserved by the Declarant under Article 6 of this Declaration to create Units, Common Elements, and Limited Common Elements within the Condominium and to withdraw real estate from the Condominium.
j.
reserved by the Declarant under Article 6 of this Declaration to create Units, Common Elements, and Limited Common Elements within the Condominium and to withdraw real estate from the Condominium.
j.
"Declarant Control Period" means the period prior to the earlier of: k.
(i) one hundred twenty (120) days after conveyance of ninety percent (90%) of the Units which may be created, to Unit Owners other than a Declarant; (ii) two (2) years after the first Unit is conveyed to a Unit Owner other than a Declarant.
"Director" means a member of the Executive Board.
1. "Eligible Mortgagee" means an institutional lender holding a first mortgage or first deed of trust ("First Mortgage") encumbering a Unit that has notified the Association in writing of its status, stating both its name and address and the Unit number or address of the Unit its First Mortgage encumbers, and has requested all rights of notification under the Condominium Documents.
M. "Executive Board" means the board of directors of the Association.
n.
"Improvements" means any construction, structure, fixture or facilities existing or to be constructed on the land included in the Condominium, including but not limited to, buildings, trees and shrubbery planted by the Declarant or the Association, paving, utility lines, pipes, and light poles.
0. "Limited Common Elements" means the portion of the Common Elements allocated for the exclusive use of one or more but fewer than all of the Units by the Declaration or by operation of Section 47C-2-102(2) and (4) of the Condominium Act. The Limited Common Elements in the Condominium are described in Article 3 of this Declaration.
p. "Majority or Majority of Unit Owners" means the owners of more than fifty percent (50%) of the votes in the Association.
Elements in the Condominium are described in Article 3 of this Declaration.
p. "Majority or Majority of Unit Owners" means the owners of more than fifty percent (50%) of the votes in the Association.
9. "Manager" means a person, firm or corporation employed or engaged to perform management services for the Condominium and the Association.
r. "Notice and Comment" means the right of a Unit Owner to receive notice of an action proposed to be taken by or on behalf of the Association, and the right to comment thereon. The procedures Notice and Comment are set forth in Section 22.1 of this Declaration.
for S. "Notice and Hearing" means the right of a Unit Owner to receive notice of an action proposed to be taken by the Association, and the right to be heard thereon. The procedures for Notice and Hearing are set forth in Section 22.2 of this Declaration.
BOOK PAGE 2006 0872 Page 3 t. "Person" means an individual, corporation, business trust, estate, trust, partnership, association, joint venture, government, government subdivision or agency, or other legal or commercial entity.
u. "Plats and Plans" means the Plats and Plans recorded simultaneously with this Declaration in Condominium Plat Book 10 _, Page 377 through 380 constituting a part hereof, as the same may be amended from time to time.
' the v. "Property" means the land, all Improvements, easements, rights and appurtenances, which have been submitted to provisions of the Condominium Act by this Declaration.
W. "Rules and Regulations" means Rules and Regulations for the use of Units and Common Elements and for the conduct of persons within the Condominium, adopted by the Executive Board pursuant to this Declaration.
x.
"Security Interest" means an interest in real estate or
Units and Common Elements and for the conduct of persons within the Condominium, adopted by the Executive Board pursuant to this Declaration.
x.
"Security Interest" means an interest in real estate or personal property, created by contract or conveyance which secures payment or performance of an obligation. The term includes a lien created by a mortgage, deed of trust, contract for deed, land sales contract, lease intended as security, assignment of lease or rents intended as security, pledge of an ownership interest in an Association, and any other consensual lien or title retention contract intended as security for an obligation.
y. "Special Declarant Rights" means the rights reserved for the benefit of a Declarant to: (i) complete Improvements indicated on the Plats and Plans filed with the Declaration; (ii) exercise any Development Rights; (iii) maintain sales offices, management offices, signs advertising the Condominium, and models; (iv) use easements through the Common Elements for the purpose of making Improvements within the Condominium; 2. "Trustee" means the entity which may be designated by the Executive Board as the Trustee for the receipt, administration, and disbursement of funds derived from insured losses, condemnation awards, special assessments for uninsured losses, and other like sources as defined in the Bylaws. If no Trustee has been designated, the Trustee will be the Executive Board from time to time constituted, acting by majority vote, as executed by the president and attested by the secretary.
a.a. "Unit" means a physical portion of the Condominium designated for separate ownership or occupancy, the boundaries of which are described in Section 2.2 of this Declaration.
b.b. "Unit Owner" means the Declarant or other Person who
n of the Condominium designated for separate ownership or occupancy, the boundaries of which are described in Section 2.2 of this Declaration.
b.b. "Unit Owner" means the Declarant or other Person who owns a Unit. Unit Owner does not include a Person having an interest in a Unit solely as security for an obligation.
ARTICLE 2 DEVELOPMENT PLANS; BOUNDARIES Section 2.1. Maximum Number of Units. The Condominium will contain a maximum of eight (8) Units.
a. A survey of the land to be developed has been recorded simultaneously herewith in condominium Plat Book 10 at Page 377 BOOK PAGE 2006 0873 Page 4 b.
The improvements shall be constructed by the Declarant substantially in accordance with the plans and specification heretofore certified by Cothran Harris, AIA, which are recorded in condominium Plat Book 10at page 377 The condominium will include three buildings containing one ground level. Building "A" will contain two (2) units numbered 101 and 102. Unit 101 will contain 1,573.90 square feet. Unit 102 will contain 1,111.80 square feet. Building "B" will contain four (4) units numbered 101, 102, 103, and 104. Each unit will contain 925.90 square feet. Building "C" will contain one unit known as the "Salt Works." The Salt Works contains 1,177.20 square feet.
The condominium will also include automobile parking areas and other facilities located substantially as shown on the plans and specifications. Use of parking areas will be permitted subject to the rules and regulations of the Condominium Association.
C. This Declaration may be amended by filing such additional plans as may be required to described adequately the completion of all improvements. Such completion may be shown by a certificate of an architect or engineer certifying that the
iling such additional plans as may be required to described adequately the completion of all improvements. Such completion may be shown by a certificate of an architect or engineer certifying that the improvements have been constructed substantially as herein represented, or designating any changes made. Such plans or certificate when signed and acknowledged by the Declarant shall in themselves constitute an amendment of this Declaration, notwithstanding the procedures for amendment described elsewhere in this Declaration.
d. Various easements have been granted and reserved through the condominium property for utility services as shown on Condominium Plat Book 10. _ at page 377 .
Section 2.2. Boundaries. Boundaries of each Unit created by this Declaration are shown on the Plats and Plans and are described as follows: a.
Upper Boundaries: The horizontal plane of the unfinished lower surfaces of the ceiling extended to an intersection with the vertical perimeter boundaries.
b. Lower Boundary: The horizontal plane of the undecorated or unfinished upper surfaces of the floor extended to an intersection with the vertical perimeter boundaries.
C.
Vertical Perimeter Boundary: The planes defined by the inner surfaces of the studs and framing of the perimeter walls; the unfinished inner surfaces of the masonry walls; the unfinished surfaces of the interior trim and thresholds along perimeter walls and floors; the unfinished inner surfaces of closed windows and closed perimeter doors; and the innermost unfinished planes of all interior bearing studs and framing of bearing walls, columns, bearing partitions, and partition walls between separate Units.
d. Inclusions: Each Unit will include the spaces and Improvements lying within the boundaries described in Subsections
g walls, columns, bearing partitions, and partition walls between separate Units.
d. Inclusions: Each Unit will include the spaces and Improvements lying within the boundaries described in Subsections 2.2 a, b, and c, above, and will also include the spaces and Improvements within such spaces containing any space heating, water heating and air conditioning apparatus, smoke detector systems and all electrical switches, wiring, pipes, ducts, conduits, smoke detector systems and television, telephone, and electrical receptacles and light fixtures and boxes serving that Unit exclusively, the surface of the foregoing being the boundaries of such Unit, whether or not such spaces are contiguous.
e. Exclusions: Except when specifically included by other provisions of Section 2.2, the following are excluded from each Unit: The spaces and Improvements lying outside of the boundaries described in Subsections 2.2a, b, and c, above; and all chutes, pipes, flues, ducts, wires, conduits, and other facilities running through or within any interior wall or partition for the purpose of BOOK PAGE 2006 0874 Page 5 furnishing utility and similar services to other Units and Common Elements or both.
f. Non-Contiguous Portions: Certain Units may include special portions, pieces or equipment such as air conditioning compressors, refrigeration equipment, meter boxes, utility buildings that are detached or semidetached from the building containing the principal occupied portion of the Units. Such special equipment and storage portions are a part of the Unit notwithstanding their non-contiguity.
g.
Inconsistency with Plats and Plans: If this definition is inconsistent with the Plats and Plans, then this definition will control.
h. The Units of the Condominium are more particularly
contiguity.
g.
Inconsistency with Plats and Plans: If this definition is inconsistent with the Plats and Plans, then this definition will control.
h. The Units of the Condominium are more particularly described on attached Exhibit "B". Each unit shall have at least one restroom and such interior partitions and walls as the Unit Owner may elect.
i. Units are designated by number as shown on the Plats and Plans.
j. The Declarant reserves the right to alter the boundaries between Units so long as the Declarant owns the Units so altered.
Any such change shall be reflected by an amendment to the Declaration which may be executed by the Declarant alone.
Notwithstanding this procedure, no such change shall increase the number of Units beyond eight (8) nor alter the boundaries of the Common Elements without amendment of this Declaration in the manner described in Article 13. The interior design and arrangement of any Unit may be changed without amending this Declaration.
k. Annexed hereto and made a part hereof as Exhibit B is a list of all Units in the building. The Unit designation, location, area, Common Elements and Limited Common Elements are shown on the floor plans of the building recorded simultaneously herewith which have been certified to be true and correct by Cothran Harris, AIA, The percentage of interest of each Unit in the Common Elements has been determined on the basis of the proportion which the square footage of each Unit bears to the total square footage of all Units.
ARTICLE 3 LIMITED COMMON ELEMENTS The following portions of the Common Elements are Limited Common Elements assigned to the Units as stated: a. If a chute, flue, pipe, duct, wire, conduit, bearing wall, bearing column, skylight or other fixture lies partially within and
Elements are Limited Common Elements assigned to the Units as stated: a. If a chute, flue, pipe, duct, wire, conduit, bearing wall, bearing column, skylight or other fixture lies partially within and partially outside the designated boundaries of a Unit, the portion serving only the Unit is a Limited Common Element, allocated solely to the Unit, the use of which is limited to that Unit, and any portion thereof serving more than one Unit or a portion of the Common Elements is a part of the Common Elements.
b. Any shutters, awnings, doorsteps, porches, terraces, patios and each exterior door and window or other fixture designed to serve a single Unit that is located outside of the boundaries of the Unit, are Limited Common Elements allocated exclusively to the Unit and their use is limited to that Unit.
C. Stoops and steps at the entrances to a building, which provide access to less than all Units, the use of which is limited to the Units to which they provide access.
BOOK PAGE 2006 0875 Page 6 d. Walkways, driveways and HVAC systems at the rear of the Units, the use of which is limited to the Unit in front of them as shown on the Plats and Plans.
e. Utility areas, the use of which is limited to the Unit or Units as shown on the Plats and Plans, if any.
f.
Storm windows and storm doors, if any, will be Limited Common Elements of the Unit which they serve.
g.
Exterior doors and windows will be Limited Common Elements allocated to the Units sheltered.
h. Mailboxes, nameplates, and exterior lighting affixed to the building will be Limited Common Elements allocated to the Unit served.
of ARTICLE 4 MAINTENANCE, REPAIR AND REPLACEMENT Section 4.1. Common Elements. The Association will maintain, repair and replace all of the Common Elements, except the portions
ted to the Unit served.
of ARTICLE 4 MAINTENANCE, REPAIR AND REPLACEMENT Section 4.1. Common Elements. The Association will maintain, repair and replace all of the Common Elements, except the portions the Limited Common Elements which are required by this Declaration to be maintained, repaired or replaced by the Unit Owners. Any common expense or portion thereof benefitting fewer than all the units must be assessed exclusively against the unit or units benefitted.
Section 4.2. Units. Each Unit Owner shall maintain, repair and replace, at his or her own expense, all portions of his or her Unit, except the portions thereof to be maintained, repaired or replaced by the Association.
Section 4.3. Limited Common Elements. Any Expense associated with the maintenance, repair or replacement of a heat exchanger, heat outlet, enclosures and mechanical attachments will be assessed against the Unit or Units which the Limited Common Element serves.
Common Expenses associated with the maintenance, repair or replacement of exterior doors, windows and skylights, will be assessed against the Unit or Units to which the Limited Common Element is assigned. No additional component or element may be attached without consent of the Executive Board.
Common Expenses associated with the cleaning, maintenance, repair or replacement of all Limited Common Elements will be assessed against the Units which the limited common elements serve.
If any such Limited Common Element serves more that one Unit, the Common Expenses attributable to the Limited Common Element will be assessed equally among the Units which it serves.
Each Unit Owner shall be responsible for removing all snow, leaves and debris from all doorsteps or stoops which are Limited Common Elements appurtenant to his Unit.
y among the Units which it serves.
Each Unit Owner shall be responsible for removing all snow, leaves and debris from all doorsteps or stoops which are Limited Common Elements appurtenant to his Unit.
Section 4.4. Access. Any Person authorized by the Executive Board shall have the right of access to all portions of the Property for the purpose of correcting any condition threatening a Unit or the Common Elements, and for the purpose of performing installations, alterations or repairs, and for the purpose of reading, repairing, replacing utility meters and related pipes, valves, wires, and equipment provided that such requests for entry are made in advance and that any such entry is at a time reasonably convenient to the affected Unit Owner. In case of an emergency, no such request or notice is required and such right of entry shall be immediate, whether or not the Unit Owner is present at the time.
BOOK PAGE 2006 0876 Page 7 Section 4.5. Repairs Resulting from Negligence. Each Unit Owner will reimburse the Association for any damages to any other Unit, to the Common Elements or to the Limited Common Elements caused intentionally, negligently or by his or her failure to properly maintain, repair or make replacements to his or her Unit.
The Association will be responsible for damage to Units caused intentionally, negligently or by its failure to maintain, repair or make replacements to the Common Elements. If such expense is caused by misconduct, it will be assessed following Notice and Hearing.
ARTICLE 5 SUBSEQUENTLY ALLOCATED LIMITED COMMON ELEMENTS Those portions of the Common Elements now or hereafter improved as parking spaces may be subsequently allocated as Limited Common Elements in accordance with Subsection 6.1c and Article 10
ON ELEMENTS Those portions of the Common Elements now or hereafter improved as parking spaces may be subsequently allocated as Limited Common Elements in accordance with Subsection 6.1c and Article 10 of this Declaration, or may be assigned by Rules and Regulations of the Executive Board, or may be limited by Rules and Regulations to visitors only.
ARTICLE 6 DEVELOPMENT RIGHTS AND OTHER SPECIAL DECLARANT RIGHTS Section 6.1.
The Reservation of Development Rights.
Declarant reserves the following Development Rights during the Development control Period: a.
The right by amendment, to allocate pro-rata as Limited Common Elements not more than sixteen (16) of the parking spaces as shown on the Plats and Plans and assign them to a particular Unit.
No assurance is given that such spaces will be allocated however.
b. The right to construct underground utility lines, pipes, wires, ducts, conduits and other facilities across the land anywhere in the Condominium for the purpose of furnishing utility and other services to any Improvements. The Declarant also reserves the right to grant utility easements and to convey Improvements within those easements. If the Declarant grants any such easements, Exhibit "A" will be amended to include reference to the recorded easement.
C. The right by amendment, to withdraw real estate from the Condominium in the location shown as "Future Development" and labeled "Need Not be Developed" on the Plats and Plans and described in Exhibit C attached hereto.
d. The right by amendment, to add to and/or create Units, Common Elements, and Limited Common Elements within the Condominium in the locations shown as "Future Development (Need not be developed)" and on the Plats and Plans and described in Exhibit A attached hereto.
Section 6.2.
imited Common Elements within the Condominium in the locations shown as "Future Development (Need not be developed)" and on the Plats and Plans and described in Exhibit A attached hereto.
Section 6.2.
Limitations on Development Rights. The Development Rights reserved in Section 6.1 are limited as follows: a. The Development Rights may be exercised at any time but not more than two (2) years after the recording of the initial Declaration; b. A total of not more than eight (8) Units may be created under this Declaration and the Development Rights reserved herein; C. The quality of construction of any buildings and Improvements to be created on the Property shall be consistent with the quality of those constructed pursuant to this Declaration as initially recorded.
BOOK PAGE 2006 0877 Page 8 d. All Units and Common Elements created pursuant to the Development Rights will be restricted to commercial use in the same manner and to the same extent as the Units created under this Declaration as initially recorded.
Section 6.3. Phasing of Development Rights. No assurances are made by the Declarant regarding the portions of the areas shown as "Future Development (Need not be developed)" on the Plats and Plans as to the portions where the Declarant will exercise its Development Rights or the order in which such portions, or all of the areas, will be developed or withdrawn. The exercise of Development Rights as to some portions will not obligate the Declarant to exercise them as to other portions, but no part of a portion may be withdrawn after a Unit in that portion has been conveyed to a purchaser.
Section 6.4. Special Declarant Rights. The Declarant reserves the following Special Declarant Rights, to the maximum extent permitted by law, which may be exercised, where applicable,
to a purchaser.
Section 6.4. Special Declarant Rights. The Declarant reserves the following Special Declarant Rights, to the maximum extent permitted by law, which may be exercised, where applicable, anywhere within the Condominium: a. To complete Improvements indicated on the Plats and Plans filed with the Declaration and in connection therewith, to maintain on premises during the construction period construction equipment, maintenance building and a construction office.
b.
Declaration; C.
To exercise a Development Right reserved in the To maintain sales offices, management offices, advertising the Condominium, and models; signs d. To use easements through the Common Elements for the purpose of making Improvements within the Condominium; e. To appoint or remove an officer of the Association or an Executive Board member during the Declarant Control Period subject to the provisions of Section 6.8 of this Declaration.
Section 6.5. Models, Sales Offices and Management Offices.
As long as the Declarant is a Unit Owner, the Declarant and its duly authorized agents, representatives and employees may maintain any Unit owned by the Declarant or any portion of the Common Elements as a model unit or sales office or management office.
The an Section 6.6. Construction; Declarant's Easements.
Declarant reserves the right to perform repairs and construction work, and to store materials in secure areas, in Units and Common Elements , and the further right to control all such work and repairs , and the right of access thereto, until its completion.
All work may be performed by the Declarant without the consent or approval of the Executive Board. The Declarant has such easement through the Common Elements as may be reasonably necessary for the purpose
ork may be performed by the Declarant without the consent or approval of the Executive Board. The Declarant has such easement through the Common Elements as may be reasonably necessary for the purpose of discharging the Declarant's obligations for exercising Special Declarant Rights, whether arising under the Condominium Act or reserved in this Declaration. Such easement includes the right to convey utility and drainage easements to public utilities, municipalities, the State of North Carolina, riparian owners ΟΙ upland owners to fulfill the development.
plan of Section 6.7. Signs and Marketing. The Declarant reserves the right to post signs and displays in the Common Elements to promote sales of Units, and to conduct general sales activities, in a manner as will not unreasonably disturb the rights of Unit Owners.
Section 6.8. Declarant's Personal Property.
reserves the right to retain all personal property and equipment The Declarant used in the sales, management, construction and maintenance of the premises that has not been represented as Property of the BOOK PAGE 2006 0878 Page 9 Association. The Declarant reserves the right to remove from the Property, any and all of the goods and Improvements used in development, marketing and construction, whether or not they have become fixtures.
Section 6.9. Declarant Control of the Association.
a. Subject to Subsection 6.8b, during the Declarant Control Period, a Declarant or persons designated by the Declarant may appoint and remove the officers and members of the Executive Board.
A Declarant may voluntarily surrender the right to appoint and remove officers and members of the Executive Board before the termination of the Declarant Control Period, but in that event the
e Board.
A Declarant may voluntarily surrender the right to appoint and remove officers and members of the Executive Board before the termination of the Declarant Control Period, but in that event the Declarant may require, for the duration of the Declarant Control Period, that specified actions of the Association or Executive Board, as described in a recorded instrument executed by the Declarant , be approved by the Declarant before they become effective.
b. Not later than one hundred eighty (180) days after conveyance of sixty percent (60%) of the Units to Unit Owners other than a Declarant, at least two members and not less than forty percent (40%) of the members of the Executive Board shall be elected by Unit Owners other than the Declarant.
C. Not later than the termination of the Declarant Control Period, the Unit Owners shall elect an Executive Board of at least three (3) members, at least a majority of whom shall be Unit Owners. The Executive Board shall elect the officers.
Executive Board members and officers shall take office election.
The upon d. Notwithstanding any provision of this Declaration or the Bylaws to the contrary, following notice under Section 47C-3-108 of the Condominium Act, the Unit Owners, by a sixty-seven percent (67%) vote of all persons present and entitled to vote at a meeting of the Unit Owners at which a quorum is present, may remove member of the Executive Board with or without cause, other than a member appointed by the Declarant.
a Section 6.10. Limitations on Special Declarant Rights.
Unless sooner terminated by an amendment to the Declaration executed by the Declarant, any Special Declarant Right may be exercised by the Declarant until the earlier of the following: (i) so long as the Declarant owns any Unit; or
amendment to the Declaration executed by the Declarant, any Special Declarant Right may be exercised by the Declarant until the earlier of the following: (i) so long as the Declarant owns any Unit; or (ii) two (2) years after the first Unit is conveyed to a Unit Owner other than the Declarant.
Section 6.11. Interference with Special Declarant Rights.
Neither the Association nor any Unit Owner may take any action or adopt any rule that will interfere with or diminish any Special Declarant Right without the prior written consent of the Declarant.
Section 7.1.
ARTICLE 7 ALLOCATED INTERESTS Allocation of Interests. The table showing Unit numbers and their Allocated Interests is attached as Exhibit "B".
These interests have been allocated in accordance with the formulas set out in this Article 7.
Section 7.2. Formulas for the Allocation of Interests.
interests allocated to each Unit have been calculated on following formulas : a.
The the Undivided Interest in the Common Elements.
of the undivided interest in the Common Elements allocated to each The percentage 3 BOOK PAGE 2006 0879 Page 10 Unit is set out on Exhibit "B" and is based on the relative floor area of each Unit as compared to the floor area of all of the Units in the Condominium. For the purpose of this calculation, the floor areas of attics, if any, are not to be counted.
b.
Liability for the Common Expenses. Each Unit in the Condominium shall share equally in the Common Expenses of the Condominium so that the percentage of liability for the Common Expenses allocated to each Unit is calculated by dividing 100 by the total number of Units in the Condominium. Nothing contained in this Subsection shall prohibit certain Common Expenses from being apportioned to particular Units under Article 17 of this Declaration.
e total number of Units in the Condominium. Nothing contained in this Subsection shall prohibit certain Common Expenses from being apportioned to particular Units under Article 17 of this Declaration.
C. Votes. Each Unit in the Condominium shall have one vote.
ARTICLE 8 RESTRICTIONS ON USE, ALIENATION AND OCCUPANCY Section 8.1. Use and Occupancy Restrictions. Subject to the Special Declarant Rights reserved under Article 6, the following use restrictions apply to all Units and to the Common Elements: a.
Each Unit is restricted to office commercial or retail commercial activity permitted under applicable zoning ordinances, subject to the following: the (i) Designated parking areas may not be used for any purpose other than vehicular parking.
(ii) Use of a Unit for residential purposes is expressly prohibited.
b. The use of Units and Common Elements is also subject to Bylaws and the Rules and Regulations adopted by the Association.
Section 8.2.
Restrictions on Alienation. A Unit may not be conveyed pursuant to a time-sharing plan.
A Unit may be leased or rented but shall remain subject to all applicable Rules and Regulations. All leases of a Unit shall be deemed to include a provision that the tenant will recognize and attorn to the Association as landlord, solely for the purpose of having the power to enforce a violation of the provisions of the Condominium Documents against the tenant, provided the Association gives the landlord notice of its intent to so enforce, and a reasonable opportunity to cure the violation directly, prior to the commencement of an enforcement action.
All easements, ARTICLE 9 EASEMENTS AND LICENSES reservations, restrictions, agreements, or licenses to which the Condominium is presently subject are recited in Exhibit
ement of an enforcement action.
All easements, ARTICLE 9 EASEMENTS AND LICENSES reservations, restrictions, agreements, or licenses to which the Condominium is presently subject are recited in Exhibit "A" to this Declaration. In addition, the Condominium may be subject to other easements ΟΙ licenses granted by the Declarant pursuant to its powers under Article 6 of this Declaration.
ARTICLE 10 ALLOCATION AND REALLOCATION OF LIMITED COMMON ELEMENTS A Common Element not previously allocated as a Limited Common Element may be so allocated only pursuant to provisions of Article 5 of the Declaration. The allocations will be made by amendments BOOK 2006 PAGE 0880 Page 11 to the Declaration, specifying to which Unit or Units the Limited Common Element is allocated.
The Declarant has reserved the right, under Subsection 6.1(c) of this Declaration, to allocate as Limited Common Elements not more than sixteen (16) parking spaces. If any such parking spaces are so allocated, they shall be assigned to particular Units by amendment to this Declaration. Any parking spaces which are not allocated as Limited Common Elements at the termination of the Development Rights period may be so allocated by the Association by amendment to this Declaration. All amendments shall specify to which Unit or Units the Limited Common Element is allocated.
The copy No Limited Common Element depicted on the Plats and Plans may be reallocated by an amendment to this Declaration pursuant to this Article 10 except as part of a relocation of boundaries of Units pursuant to Article 12 of this Declaration. Such amendment shall require the approval of all holders of Security Interests in the affected Units, which approval shall be endorsed thereon.
Person executing the amendment shall provide an executed
Such amendment shall require the approval of all holders of Security Interests in the affected Units, which approval shall be endorsed thereon.
Person executing the amendment shall provide an executed thereof to the Association which, if the amendment complies with the provisions of this Declaration and the Condominium Act, shall record it. The amendment shall contain words of conveyance and must be recorded and indexed in the names of the parties and the Condominium. The parties executing the amendment shall be responsible for the preparation of the amendment and shall reimburse the Association for its reasonable attorneys' fees in connection with the review of the amendment and for the recording costs.
ARTICLE 11 ADDITIONS, ALTERATIONS AND IMPROVEMENTS Section 11.1. Additions, Alterations and Improvements by Unit Owners.
a.
No Unit Owner will make any structural addition, structural alteration, ΟΙ structural Improvement in or to the Condominium without the prior written consent thereto of the Executive Board in accordance with Subsection 11.lc.
b.
Subject to Subsection 11.la, a Unit Owner: (i) may make any other Improvements or alterations to the interior of his Unit that do not impair the structural integrity or mechanical systems or lessen the support of any portion of the Condominium; and (ii) may not change the appearance of the Common Elements, or the exterior appearance of a Unit or any other portion of the Condominium, without permission of the Association.
(iii) may, after acquiring an adjoining Unit, remove or alter any intervening partition or create apertures therein, even if the partition is a Limited Common Element, if those acts do not impair the structural integrity or mechanical systems or lessen the support of any portion of the
n or create apertures therein, even if the partition is a Limited Common Element, if those acts do not impair the structural integrity or mechanical systems or lessen the support of any portion of the Condominium. Removal of partitions or creation of apertures under this paragraph is not an alteration of boundaries.
C. A Unit Owner may submit a written request to the Executive Board for approval to do anything that he or she is forbidden to do under Subsection 11.1a or 11.lb(ii). The Executive Board shall answer any written request for such approval, after Notice and hearing, within sixty (60) days after the request thereof. Failure BOOK PAGE 2006 0 8 8 1 Page 12 to do so within such time shall not constitute a consent by the Executive Board to the proposed action. The Executive Board shall review requests in accordance with the provisions of its Rules and Regulations.
d. Any applications to any department or to any governmental authority for a permit to make any addition, alteration or Improvement in or to any Unit shall be executed by the Association only. Such execution will not, however, create any liability on the part of the Association or any of its members to any contractor, subcontractor or materialman on account of such addition, alteration or Improvement or to any person having any claim for injury to persons or damage to property arising therefrom.
e. All additions, alterations and Improvements to the Units and Common Elements shall not, except pursuant to prior approval by the Executive Board, cause any increase in the premium of any insurance policies carried by the Association or by the Owners of any Units other than those affected by such change.
The provisions of this Section shall not apply to Declarant in the exercise of any Special Declarant Right.
d by the Association or by the Owners of any Units other than those affected by such change.
The provisions of this Section shall not apply to Declarant in the exercise of any Special Declarant Right.
Section 11.2. Additions, Alterations and Improvements by Executive Board. Subject to the limitations of Section 17.4 and 17.5 of this Declaration, the Executive Board may make any additions, alterations or Improvements to the Common Elements which, in its judgment, it deems necessary.
ARTICLE 12 RELOCATION OF BOUNDARIES BETWEEN ADJOINING UNITS Section 12.1. Application and Amendment. Subject to approval of any structural changes and required permits pursuant to Article 11, the boundaries between adjoining Units may be relocated by an amendment to the Declaration upon application to the Association by the Owners of the Units affected by the relocation. If the Owners of the adjoining Units have specified a reallocation between their Units of their Allocated Interests, the application shall state the proposed reallocations. Unless the Executive Board determines, within thirty (30) days after receipt of the application, that the reallocations are unreasonable, the Association shall consent to the reallocation and prepare an amendment that identifies the Units involved, states the reallocations and indicates the Association's consent. The amendment must be executed by those Unit Owners and contain words of conveyance between them, and the approval of all holders of Security Interests in the affected units shall be endorsed thereon. On recordation, the amendment shall be indexed in the name of the grantor and the grantee, and in the grantee's index in the name of the Association.
Section 12.2. Recording Amendments. The Association shall
rdation, the amendment shall be indexed in the name of the grantor and the grantee, and in the grantee's index in the name of the Association.
Section 12.2. Recording Amendments. The Association shall prepare and record plats or plans necessary to show the altered boundaries between adjoining Units, and their dimensions and identifying numbers.
The applicants will pay for the costs of preparation of the amendment and its recording, and the reasonable consultant fees of the Association if it is deemed necessary to employ a consultant by the Executive Board.
BOOK PAGE 2006 0882 Page 13 ARTICLE 13 AMENDMENTS TO DECLARATION Section 13.1. General. Except in cases of amendments that may be executed by the Declarant in the exercise of its Development Rights or by the Association under Article 10 of this Declaration and Section 47C-1-107 of the Condominium Act, or by certain Unit Owners under Article 10 and Section 12.1 of this Declaration and Section 47C-2-118 of the Condominium Act, and except as limited by Section 12.1 and Article 16 of this Declaration, this Declaration, including the Plats and Plans, may be amended only by vote or agreement of Owners of Units to which at least sixty-seven percent (67%) of the votes in the Association are allocated.
Section 13.2.
Limitation of Actions. An action to challenge the validity of an amendment adopted by the Association pursuant to this Article may not be brought more than one year after the amendment is recorded.
Section 13.3. Recordation of Amendments. Each amendment to the Declaration must be recorded in the county in which the Condominium is located and the amendment is effective only upon recording. An amendment, except an amendment pursuant to Article 12 of this Declaration, must be indexed in the grantee's index in
h the Condominium is located and the amendment is effective only upon recording. An amendment, except an amendment pursuant to Article 12 of this Declaration, must be indexed in the grantee's index in the name of the Condominium and the Association and in the grantor's index in the name of the parties executing the amendment.
Section 13.4. Unanimous Consent Required. Except to the extent expressly permitted or required by other provisions of the Condominium Act, an amendment may not create or increase Special Declarant Rights, increase the number of Units, change the boundaries of a Unit, the Allocated Interests of a Unit, or the uses to which a Unit is restricted, in the absence of the unanimous consent of the Unit Owners.
Section 13.5. Execution of Amendments. An amendment to the Declaration required by the Condominium Act to be recorded by the Association, which has been adopted in accordance with this Declaration and the Condominium Act, must be prepared. executed, recorded and certified on behalf of the Association by an officer of the Association designated for that purpose, or in the absence of designation, by the president of the Association.
Section 13.6. Special Declarant Rights. Provisions in this Declaration creating Special Declarant Rights may not be amended without the consent of the Declarant.
Section 13.7. Amendments to Create Units or Withdraw Real Estate. To exercise any Development Rights reserved under Section 6.1 of this Declaration, the Declarant shall prepare, execute and record an amendment to the Declaration. The Declarant shall also record either new Plats and Plans necessary to conform to the requirements of Section 47C-2-109(a), (b), and (c) of the Condominium Act or new certifications of the Plats and Plans
eclarant shall also record either new Plats and Plans necessary to conform to the requirements of Section 47C-2-109(a), (b), and (c) of the Condominium Act or new certifications of the Plats and Plans previously recorded if those Plats and Plans otherwise conform to the requirements of those Sections.
The amendment to the Declaration shall describe any Common Elements and any Limited Common Elements created thereby and designate the Unit to which each Limited Common Element is allocated to the extent required by Section 47C-2-108 of the Condominium Act.
Section 13.8. Amendments to Create Units or Withdraw Real Estate. To exercise any Development Rights reserved under Section 6.1 of this Declaration, the Declarant shall prepare, execute and record an amendment to the Declaration that shall include an amended Exhibit "B" reallocating the interests among the units in BOOK PAGE 2006 0883 Page 14 accordance with Article 7 of the Declaration. The Declarant shall also record either new Plats and Plans necessary to conform to the requirements of Section 47C-2-109(a), (b), and (c) of the Condominium Act or new certifications of the Plats and Plans previously recorded if those Plats and Plans otherwise conform to the requirements of those Sections.
The amendment to the Declaration shall describe any Common Elements and any Limited Common Elements created thereby and designate the Unit to which each Limited Common Element is allocated to the extent required by Section 47C-2-108 of the Condominium Act.
ARTICLE 14 AMENDMENTS TO BYLAWS The Bylaws may be amended only by a vote of two-thirds (2/3) of the members of the Executive Board, following Notice and Comment to all Unit Owners, at any meeting duly called for such purpose.
ARTICLE 15 TERMINATION
e amended only by a vote of two-thirds (2/3) of the members of the Executive Board, following Notice and Comment to all Unit Owners, at any meeting duly called for such purpose.
ARTICLE 15 TERMINATION Termination of the Condominium may be accomplished only in accordance with Section 47C-2-118 of the Condominium Act.
ARTICLE 16 CONDEMNATION If part or all of the Condominium is taken by any power having the authority of eminent domain, all compensation and damages for and on account of the taking shall be payable in accordance with Section 47C-1-107 of the Condominium Act.
ARTICLE 17 ASSESSMENT AND COLLECTION OF COMMON EXPENSES Section 17.1. Apportionment of Common Expenses. Except as provided in Section 17.2, all Common Expenses shall be assessed against all Units in accordance with their liability for the Common Expenses as described in Section 7.2(b) of this Declaration.
Units.
Section 17.2. Common Expenses Attributable to Fewer Than All a. Any Common Expense associated with the maintenance, repair or replacement of a Limited Common Element other than concrete walks and parking areas shall be assessed against the Unit or Units to which the Limited Common Element is assigned.
Limited Common Element is assigned to more than one Unit, the If any such Common Expenses attributable to the Limited Common Element shall be assessed equally among the Units to which it is assigned.
b. Any Common Expense for services of any kind provided by or through the Association to an individual Unit shall be assessed exclusively against the specific Unit which benefits from the service.
C.
a Any insurance premium increase attributable to particular Unit by virtue of activities in or construction of the Unit shall be assessed against the Unit.
fic Unit which benefits from the service.
C.
a Any insurance premium increase attributable to particular Unit by virtue of activities in or construction of the Unit shall be assessed against the Unit.
d. An assessment to pay a judgment against the Association may be made only against the Units in the Condominium at the time the judgment was entered, in proportion to their Common Expense liabilities.
BOOK PAGE 2006 0 8 8 4 Page 15 e. If a Common Expense is caused by the misconduct of a Unit Owner, the Association may assess that expense exclusively against his Unit( s).
f. The initial working capital assessment, fees, charges, late charges, fines, collection costs, and interest charged against a Unit Owner pursuant to the Condominium Documents and Condominium Act are enforceable as Common Expense assessments.
Section 17.3. Lien.
the a. Assessments shall be assessed and paid quarterly and shall be due and payable on the first day of each quarter.
association shall have a lien on a Unit for an assessment levied The against the Unit which remains unpaid for a period of sixty (60) days or longer from the time it is filed of record in the Office of the Clerk of Superior Court of New Hanover County, North Carolina.
Fees, charges, late charges, fines and interest charged pursuant to the Condominium Act and the Condominium Documents are enforceable as assessments under this Section. When an assessment is payable in installments, the full amount of the assessment shall become immediately due and payable when the first installment thereof remains unpaid in such manner, and the full amount of assessment shall constitute a lien from the time of such filing.
the b. A lien under this section is prior to all other liens and encumbrances on a Unit except; C.
such manner, and the full amount of assessment shall constitute a lien from the time of such filing.
the b. A lien under this section is prior to all other liens and encumbrances on a Unit except; C.
(i) liens and encumbrances (including, but not limited to, a mortgage or deed of trust on the Unit) recorded before the docketing of the lien in the Office of the Clerk of Superior Court; and (ii) liens for real estate taxes and other governmental assessments or charges against the Unit. This Subsection does not affect the priority of mechanics' or materialmen's liens.
A lien for unpaid assessments is extinguished unless proceedings to enforce the lien are instituted within three (3) years after the docketing thereof in the Office of the Clerk of Superior Court.
d. This section does not prohibit an action to recover sums for which Subsection 17.3(a) of this section creates prohibit the Association from taking a deed in lieu of foreclosure.
a lien or e. A judgment, decree or order in any action brought under this Section shall include costs and reasonable attorney's fees for the prevailing party.
f. The Association's lien may be foreclosed as a mortgage on real estate under power of sale under Article 2A of Chapter 45 of the General Statutes of North Carolina.
g. If a holder of a first mortgage or first deed of trust of record , or other purchaser of a Unit, obtains title to the Unit as a result of foreclosure of a first mortgage or first deed of trust, such purchasers, and its heirs, successors and assigns, shall not be liable for the assessments against such Unit which became due prior to acquisition of title to such Unit by such purchaser. Such unpaid assessments shall be deemed to collectible from all the Unit Owners in that particular building be Common Expenses
became due prior to acquisition of title to such Unit by such purchaser. Such unpaid assessments shall be deemed to collectible from all the Unit Owners in that particular building be Common Expenses including such purchaser, and its heirs, successors and assigns.
h. Any payments received by the Association in the discharge of a Unit Owner's obligation may be applied to the oldest balance due.