145-28 and 145-32 3rd Avenue Homeowners Association

Key facts from 145-28 and 145-32 3rd Avenue Homeowners Association's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Homeowners Association (HOA) - 145-28 and 145-32 3rd Avenue Homeowners Association (Article I(a) 'Association shall mean and)

Units / lots

2 one-family houses (Article I(c) 'Development shall mean ...)

Governing law

New York Not-For-Profit Corporation Law (Preamble 'Sponsor may incorporate ... un)

Assessments & dues

Board sets budget; each member pays 1/(number of Lots). Sponsor's obligation on unsold homes limited to deficiency. (Article VI Section 3)

Special assessments

Board may levy special assessments if necessary (By-laws Article VIII Section 4(a)1) (By-laws Article VIII Section 4(a)1 'spec)

Collections & liens

Unpaid assessment constitutes a continuing lien on the home, prior only to tax liens and first mortgage. Association may foreclose lien. (Article VI Sections 1,5)

Reserves & fees

Not specifically mentioned; budget may include reserves? Article VI Section 3 mentions 'reserves' as part of total annual requirements (Article VI Section 3 'reserves' (implied)

Leasing & rentals

Yes, homes may be conveyed or leased, subject to payment of unpaid assessments; restriction only for non-payment (By-laws Article XIV Section 1)

Maintenance

Association responsible for Common Area maintenance (sewer lines); owner responsible for own home (implied) (Article VI Section 2 (purpose of assessm)

Insurance

Public liability insurance covering Association, each member, lessee, occupant. Also fire, extended coverage, workers' comp (By-laws). (Article VII Declaration; By-laws Article)

Use restrictions

Implicit: 'Home' defined as residential housing; Development for residential community (Article I(d) 'residential housing'; WHER)

Voting & meetings

One vote per member (each home owner). Single class of membership. Cumulative voting for directors allowed. (Article III Sections 1,2; By-laws Articl)

Amendments

Declaration: by instrument signed by members holding 66-2/3% of votes and signed by NYC Department of Buildings. By-laws: by 66% of members at meeting with notice containing full statement of amendment. (Article IX Section 2 (Declaration); By-l)

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