By the Sea Condo

Key facts from By the Sea Condo's documents

Community type

Condominium

Legal name

By The Sea Condominium

Developer / declarant

BRIBAR, L.L.C.

Governing law

New Jersey Revised Statutes 46:8B-1 et seq. (Condominium Act) (Section 1 - submitted to provisions of C)

Assessments & dues

Projected annual budget $12,138.28; per unit: A $2,549.04, B $3,277.33, C $2,913.19, D $3,398.72 (Exhibit E)

Special assessments

May be levied at any time for capital improvements or other requirements (Section 11.B)

Collections & liens

Assessments when due become a lien; may be foreclosed; personal obligation as well (Section 11.D, E, F)

Reserves & fees

10% reserve included in projected budget (Exhibit E - 'Reserve (10%)')

Pets

Domestic pets may be kept by unit owners; tenants are prohibited from keeping pets (Rules and Regulations - PETS section)

Leasing & rentals

Yes, but all leases and occupancy agreements must have a term of at least seven (7) days (Section 8.G)

Parking & vehicles

Parking restricted to automobiles only; no trailers, boats, trucks (Rules - PARKING)

Architectural approval

Written approval of other Unit Owners required for subdivision, alteration, change of exterior color, or any work affecting Common Elements or structural integrity (Section 8.C, 8.E, 8.H)

Maintenance

Primary maintenance/repair of rooftop deck rests with owners of Units C and D; expenses for repair of limited common elements (if not caused by negligence) treated as Common Expense (Section 7 - description of limited commo)

Insurance

Association obtains casualty/physical damage insurance for full replacement value of buildings, covering flood, fire, extended coverage, vandalism, malicious mischief, windstorm, etc.; public liability insurance minimum $1,000,000 (Section 14.C)

Use restrictions

Units designed and intended for use as a private residence (Section 3.N definition of Unit)

Voting & meetings

One vote per unit, total four votes; procedures for multiple owners, corporations, etc. (Section 10)

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.