Harborwood Condominiums

Key facts from Harborwood Condominiums's documents

Community type

Condominium

Legal name

Harborwood Condominiums

Developer / declarant

Harborwood Condominiums

Governing law

New Jersey Condominium Act, Chapter 257, Laws of 1969, N.J.S.A. 46:8B-1 et seq.; Planned Real Estate Development Full Disclosure Act, Chapter 419, Laws of 1977, N.J.S.A. 45:22A-21 et seq. (Paragraph 1)

Assessments & dues

Common expenses charged according to each Unit's percentage interest in Common Elements (Exhibit D); initially Sponsor pays all expenses until Association makes assessment (Paragraph 18, page 27)

Special assessments

Not specifically prohibited, but Sponsor while controlling board shall not make additions/improvements necessitating special assessment or substantial increase in monthly assessment unless required by government, title insurer, mortgagee, o (Paragraph 11(e), page 21)

Collections & liens

Association may have lien for common expense assessments, but subordinate to first mortgages recorded prior to assessments becoming due (Paragraph 21(c), page 30)

Leasing & rentals

Unit Owners may lease their Units, but not for transient or hotel purposes (transient defined as less than 7 consecutive days); no Unit Owner may lease less than the entire Unit; lease must be in writing and subject to Master Deed and By-La (Paragraph 17, page 27)

Architectural approval

Board must answer request within 45 days; failure to answer constitutes consent (Paragraph 10(i), page 14)

Maintenance

Association (part of exterior of Building and common elements) (Paragraph 22(b), page 32; Paragraph 5(vi)

Insurance

Association shall obtain casualty/physical damage insurance for full replacement value (fire, extended coverage, flood, vandalism, windstorm, etc.), public liability insurance ($500,000/person, $1,000,000/occurrence bodily; $1,000,000 prope (Paragraph 16, pages 24-26)

Voting & meetings

One vote per Unit (Paragraph 7, page 7)

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