Sherman at 3316 Jfk Blvd Condominium

Key facts from Sherman at 3316 Jfk Blvd Condominium's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (HOA is the Association) (Article 1)

Units / lots

25 (14 residential condominium units + 11 parking condominium units) (Article 2 (Building definition) and Arti)

Governing law

Condominium Act of the State of New Jersey (N.J.S.A. 46:8B-1 et seq.) (Article 1)

Assessments & dues

Common Expenses are assessed proportionately to each Unit Owner based on their proportionate undivided interest in the Common Elements as set forth in Exhibit D. (Article 4 and Article 5)

Special assessments

Possible; Association may impose if needed. While Grantor controls Board, no additions/improvements/purchases that would necessitate special assessment unless required by governmental agency, title insurance, mortgage lender, or emergency. (Article 19)

Collections & liens

Association has a lien for unpaid common expenses and assessments, and may foreclose that lien. Also may appoint receiver for the Unit, seek damages, injunction, specific performance. (Article 22)

Reserves & fees

Replacement reserve contributions are collected from Unit Owners. Grantor turns over reserves when control is relinquished. While Grantor controls the Board, an independent accountant prepares annual audit including reserve accounts. (Article 5)

Pets

Pets are permitted in each Residential Condominium Unit, but must be carried in Common Elements and walked offsite. Certified service animals are excluded from these restrictions. (Article 17)

Leasing & rentals

Yes, but must comply with By-Laws (Article VII). Any attempt to sell or lease not in accordance with By-Laws is null and void. (Article 21)

Home business

Not explicitly allowed or prohibited. Only mention is 'private dwelling' in definition. No specific rule on home business. (Article 2)

Signs & flags

Grantor has right to install identification signs on Common Elements for sales promotion until last unit sold (max 5 years). No restriction on individual owner signs. (Article 15(B)(1) and (7))

Maintenance

Association responsible for maintenance and repair of roof deck (part of Common Elements). (Article 14 (roof deck mentioned as Commo)

Insurance

Board required to obtain and maintain insurance of the types and in amounts required by the By-Laws. If loss <= $50,000, Board contracts for repair. If > $50,000, proceeds paid to Insurance Trustee. (Article 13)

Use restrictions

Yes, Residential Condominium Units are for private dwelling use, except as otherwise permitted. Parking Units are for parking. (Article 2 (definition of Residential Con)

Voting & meetings

Each Unit Owner has one (1) vote per unit. Owners of Parking Condominium Units are only entitled to vote on matters exclusively affecting parking units (maintenance, repair, replacement) and have no vote on other matters. (Article 7)

Amendments

Master Deed may be amended by approval of Unit Owners owning not less than 67% of total number of Units, unless Condominium Act or Master Deed requires larger percentage. Grantor cannot vote unsold units for amendments that change permitted (Article 23)

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