10 12 Challenger Court Condominium

Key facts from 10 12 Challenger Court Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (pursuant to Article 9-B, page 1)

Legal name

10 12 Challenger Court Condominium

Developer / declarant

AY REALTY USA LLC (page 4, 'AY REALTY USA LLC with an addre)

Governing law

Article 9-B of the Real Property Law of the State of New York (page 1, 'Pursuant to Article 9-B of the )

Assessments & dues

Board prepares budget and determines Common Charges assessed pro-rata based on Common Interests (By-laws Section 2.6(iv)-(v), pages 31-32)

Special assessments

Permitted; Board can assess Unit Owners pro-rata for special expenses (By-laws Section 6.1(C), page 28, 'Specia)

Collections & liens

Condominium Board has a lien on Unit for unpaid Common Charges and may foreclose (By-laws Section 6.4, page 27, 'the Condo)

Reserves & fees

Board may establish a reserve fund for working capital, replacement, or deficit (By-laws Section 2.6(vii)(b), page 32, 't)

Leasing & rentals

Leasing/renting of units is permitted subject to certain provisions (e.g., right of first refusal, no severance of ownership) (By-laws Article 7, page 28: 'Selling and)

Architectural approval

Yes, for alterations, additions, improvements that are structural or affect the exterior. Board approval required; Board must respond within 15 days; failure to respond is deemed waiver. (By-laws Section 5.3(A), page 45: 'any Un)

Insurance

Fire insurance with all risk extended coverage, vandalism/malicious mischief, insuring Building (including Units and fixtures) and covering interests of Condominium, Board, Unit Owners, Permitted Mortgagees. Also liability insurance with si (By-laws Section 5.4, pages 46-48: 'fire )

Use restrictions

Each Unit is to be used for residential purposes and no other (Declaration Article 9(a), page 8? 'each )

Voting & meetings

Each Unit Owner (including Sponsor for its Unsold Units) entitled to one vote per Unit. Co-owners each cast one-half vote. (By-laws Section 4.8, page 43, 'each Unit)

Amendments

Declaration may be amended by vote of 66 2/3% of Unit Owners; amendment must be recorded. By-laws may be amended as per Article 12. (Declaration Article 18, page 13: 'amende)

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