3rd Ave Homeowners Association Inc.

Key facts from 3rd Ave Homeowners Association Inc.'s documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (Title: DECLARATION ESTABLISHING A PLAN O)

Legal name

3RD AVE HOMEOWNERS ASSOCIATION INC.

Governing law

Section 352-E of the General Business Law of the State of New York (FIRST: Submission of Property)

Assessments & dues

Maximum $588 per Lot until January 1 of the year following conveyance of first Lot to an Owner. (FIFTH C)

Special assessments

Association may levy special assessment for capital improvements with assent of two-thirds of members voting in person or by proxy at a meeting called for that purpose. (FIFTH D)

Collections & liens

Annual and special assessments, together with interest, costs, and reasonable attorneys fees, are a continuing lien on the property and a personal obligation of the owner at the time assessment fell due. Association may foreclose the lien. (FIFTH A and H)

Voting & meetings

One vote per Lot. When more than one person holds interest, vote exercised as owners determine but no more than one vote per Lot. Sponsor has one vote as long as owns a lot. (FOURTH B; By-Laws ARTICLE VI Section 1)

Amendments

During first 20 years, amendment requires instrument signed by not less than 90% of Lot Owners. Thereafter, by not less than 75%. Any amendment must be recorded. Term automatically renews for successive 10-year periods. (SEVENTH C)

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