120 Route 306 Condominium

Key facts from 120 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 (Page 1)

Legal name

THE 120 ROUTE 306 CONDOMINIUM

Units / lots

3 (Units 111, 211, 301) (Exhibit B, page 14)

Developer / declarant

Route 306 Home Builders LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Page 1, Section 2)

Assessments & dues

Board prepares annual budget and determines Common Charges proportionally to Common Interest percentages (By-Laws Section 2.4(A)(iv), (v); Declara)

Special assessments

Board may levy Special Assessments against all Unit Owners in proportion to Common Interests (By-Laws Section 5.5(D), 2.4(A)(xxi))

Collections & liens

Notice of unpaid Common Charges and default given to Permitted Mortgagees; remedies include self-help, abatement, and enforcement of liens (under Condominium Act) (By-Laws Section 8.3, Article 9)

Reserves & fees

Contingency fund referenced in Schedule B; Sponsor consent required for creation of contingency or surplus fund except as required by law (By-Laws Section 2.7 (Sponsor limitations)

Parking & vehicles

Parking spaces are Limited Common Elements designated to units as shown on Floor Plans; driveway area used for ingress/egress for both 118 and 120 Route 306 Condominiums (Declaration Section 8 (Limited Common El)

Home business

A unit may be partially used as a professional office by the owner only (By-Laws Section 5.7(A))

Use restrictions

Units used only for residential purposes, not more than one family per unit, occupied by owner and immediate family (Declaration Section 9)

Voting & meetings

Each unit owner has 1 vote per unit; cumulative voting allowed; Sponsor votes for unsold units; Board not entitled to vote on units acquired by Board (By-Laws Section 4.8, 2.7)

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