Two Nine Western Avenue Condominium

Key facts from Two Nine Western Avenue Condominium's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (MASTER DEED FOR 29 WESTERN AVENUE CONDOM)

Legal name

29 Western Avenue Condominiums

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1 et seq. (pursuant to ... the provisions of the Ne)

Assessments & dues

Board fixes annual Common Expense Assessments; payable in monthly installments. (7.03, 7.04 (pages 13-14))

Special assessments

Board may levy Special Common Expense Assessment; if aggregate exceeds 30% of last annual budget, requires 2/3 vote of Members in Good Standing. (7.06 (page 14))

Collections & liens

Each Common Expense Assessment is a continuing lien on the Unit; may be foreclosed like a mortgage foreclosure; suit for money judgment may be maintained without waiving lien. (7.02 (page 13))

Reserves & fees

Replacement reserves are collected; Sponsor pays proportionate share for unsold Units after certificate of occupancy issued. (6.08 (page 12))

Architectural approval

Prior written approval of Board required for removal/replacement of interior partitions; for partitioning/subdividing Unit also requires approval of Eligible Mortgage Holder. Sponsor prior to initial conveyance exempt. (4.03 (page 9))

Maintenance

Association responsible for roof. (8.02(a) (page 15))

Voting & meetings

Each Member in Good Standing casts one unweighted vote per Unit for election of the Board; for all other questions, one vote per Unit weighted by percentage interest in Common Elements. Sponsor may vote for unsold Units but cannot use those (6.05 (page 11))

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