118 Route 306 Condominium

Key facts from 118 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 118 ROUTE 306 CONDOMINIUM

Developer / declarant

Route 306 Home Builders, LLC (Page 1)

Governing law

Article 9-B of the Real Property Law of the State of New York (Section 2)

Assessments & dues

Condominium Board determines Common Charges and Special Assessments based on adopted budget (By-Laws Section 2.4(iv)-(v) and Section )

Special assessments

Permitted; levied by Condominium Board pro-rata per Common Interest (By-Laws Section 2.4(v) and Definitions ()

Reserves & fees

Board may establish reasonable reserves for contingencies and replacements (By-Laws Section 2.4(viii))

Leasing & rentals

Yes; subject to Right of First Refusal (By-Laws Article 7)

Architectural approval

Yes; Board approval required for alterations, additions, improvements to Units (Section 10 and By-Laws Section 5.2)

Insurance

Fire insurance with extended coverage, vandalism, malicious mischief, insuring Building including Units and fixtures; comprehensive liability insurance (By-Laws Section 5.4(A)-(B))

Use restrictions

Yes; each Unit may be used for residential purposes only; one family per Unit (Section 9 and Exhibit B)

Voting & meetings

One vote per unit owned; cumulative voting allowed (By-Laws Section 2.7 and 4.8)

Amendments

Requires approval of 75% in number of all Unit Owners, in writing or at meeting; no amendment without written consent of Mortgage Representatives (Section 19)

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