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Agenda 07-08-2025; 7-b - Condominium Agreement and Memorandum of Understanding with the Town of Carrboro for the Operation of the Drakeford Library Complex
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Agenda 07-08-2025; 7-b - Condominium Agreement and Memorandum of Understanding with the Town of Carrboro for the Operation of the Drakeford Library Complex
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BOCC
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7/8/2025
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Agenda
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7-b
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Agenda for July 8, 2025 BOCC Meeting
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6 <br /> hold membership in the Association. <br /> Section 16: "Plats and Plans" means the plats and plans recorded in Plat Book , Page <br /> at Orange County Register of Deeds, and constituting a part hereof, as the <br /> same may be amended from time to time. <br /> Section 17: "Real estate" means any leasehold or other estate or interest in, over, or under <br /> land, including structures, fixtures, and other improvements and interests which <br /> by custom,usage, or law, pass with a conveyance of land and includes parcels, <br /> with or without upper or lower boundaries, and spaces that may be filled with air <br /> or water. <br /> Section 18: "Special declarant rights" mean rights, if any, reserved for the benefit of <br /> declarant as defined in G.S. 47C-1-103 (23) and as further set forth in Part II, <br /> Article I, Section 10 below. <br /> Section 19: "Unit" means a physical portion of the condominium designated for separate <br /> ownership or occupancy as shown on the recorded plats and plans, the <br /> boundaries of which are described pursuant to G.S. 47C-2-105(a)(5). <br /> Section 20: "Unit owner" means Declarant or any other person who owns a fee simple title to <br /> any Unit which is a part of the Property, together with an undivided interest in <br /> the common elements, but excluding those having such interest merely as <br /> security for the performance of an obligation. <br /> PART II-DECLARATION OF <br /> COVENANTS, CONDITIONS,AND RESTRICTIONS <br /> ARTICLE I <br /> GENERAL <br /> Section 1: Submission of Property to G.S. §47-C. Declarant hereby submits the Property <br /> to the provisions of G.S. §47-C. The Property will be administered in accordance <br /> with the provisions of§47-C, the Declaration, and the Bylaws. <br /> Section 2: Condominium Name. The name of the condominium shall be "Drakeford <br /> Library Complex Condominium Project." <br /> 4 <br />
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