114 Route 306 Condominium

Key facts from 114 Route 306 Condominium's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

THE 114 ROUTE 306 CONDOMINIUM

Developer / declarant

Route 306 Home Builders LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration, preamble, page 1)

Assessments & dues

Not set in governing documents; determined by Condominium Board based on adopted budget. (By-Laws Section 2.4(A)(iv)-(v) (page 27-)

Special assessments

Yes, may be levied by Condominium Board as provided in By-Laws, e.g., for casualty shortfall. (By-Laws Section 5.5(C) (page 44) and Def)

Collections & liens

Yes, Condominium Board can perfect a lien for unpaid charges (Section 4.8(B) implies lien rights). Additionally, Board may purchase units at foreclosure (Section 2.4(A)(xv)). (By-Laws Section 4.8(B) (page 38) and Sec)

Reserves & fees

Common Expenses include establishment/maintenance of a general operating reserve or reserve fund for replacements. (Exhibit C, Definition of Common Expenses)

Leasing & rentals

Yes, units may be leased. Board may also lease units acquired by Board. (By-Laws Article 7 (Selling and Leasing o)

Architectural approval

Yes, for any alterations, additions, improvements, or changes to Units, prior written consent of Condominium Board is required. (Declaration Section 10 (page 6) and By-L)

Home business

Any Unit may be partially used as a professional office by the owner. (By-Laws Section 5.7(A) (page 46))

Maintenance

Unit Owner responsible for maintenance, repair, replacement of interior of Unit (walls, ceilings, floors, cabinets, appliances, windows, doors, etc.). Condominium Board responsible for Common Elements. Limited Common Elements (balconies, pa (By-Laws Section 5.1 (page 39-40) and Dec)

Insurance

Fire insurance with all risk extended coverage, vandalism, malicious mischief on the Building (including Units, bathroom and kitchen fixtures, service machinery). Also comprehensive general liability insurance, workers' compensation, boiler (By-Laws Section 5.4(A) and (B) (page 42-)

Use restrictions

Each Unit may be used in accordance with local law and zoning regulations and the Certificate of Occupancy, and not more than one family at a time. Partial use as professional office by owner is permitted. (Declaration Section 9 (page 6) and By-La)

Voting & meetings

Each Unit Owner is entitled to one vote per unit owned. Sponsor or designee has votes for unsold units. Condominium Board's designee holding units is not entitled to vote. (By-Laws Section 4.8(A) and (B), page 38)

Amendments

Declaration may be amended by 75% in number of all Unit Owners, but must be approved by Mortgage Representatives if any. No amendment effective without approval of all Unit Owners? Actually Section 19 says amendment may be approved in writi (Declaration Section 19 (page 10))

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