Bonita Bay a Condo

Key facts from Bonita Bay a Condo's documents

Reflects the 1986 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1: 'under the name of BONITA BAY)

Legal name

BONITA BAY CONDOMINIUM ASSOCIATION

Developer / declarant

BEACH COVE, CORP.

Governing law

N.J.R.S. 46:8B-1 et seq. (Condominium Act) (Section 1: 'Chapter 259 of the Laws of 1)

Assessments & dues

Board of Trustees fixes common expense assessments annually; if not fixed, presumed at last year's amount (Section 10(b): 'assessments shall be mad)

Special assessments

Allowed for capital improvements or lawful purposes; requires 2/3 vote of unit owners (Section 10(c): 'special assessment ... s)

Collections & liens

Each assessment is a continuing lien on the unit; association may foreclose as a mortgage (Section 10(f): 'shall be a continuing li)

Reserves & fees

Association may hold working capital or reserves for projected needs (Section 10(d): 'working capital or reser)

Leasing & rentals

Yes, with restrictions (Section 23(j): 'unit owners shall have t)

Architectural approval

Prior written approval of Association required for structural additions, alterations, or improvements (Section 23(h): 'No unit owner ... may ma)

Maintenance

Association responsible (roof is common element) (Section 4(b): 'The roof' is part of comm)

Insurance

Association obtains blanket property insurance on common elements and liability insurance (Section 17: 'The Association shall obtai)

Use restrictions

Units used only as private residence, except Sponsor for storage/sales offices (Section 23(a): 'no residential unit ... )

Voting & meetings

Each unit owner entitled to one vote per unit (Section 18(a): 'entitled to only one (1))

Amendments

By 2/3 vote of unit owners; material amendments need approval of institutional first mortgagees; also unanimous agreement of all owners (Section 12(a): 'by a vote of at least a )

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