123 Route 306 Condominium

Key facts from 123 Route 306 Condominium's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

123 ROUTE 306 CONDOMINIUM

Developer / declarant

YUTA GOLOVENZITZ (Page 1)

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1)

Assessments & dues

Condominium Board determines Common Charges and Special Assessments (By-Laws Section 2.4(v))

Special assessments

Permitted; defined as charges allocated by Board pro rata based on Common Interests (Declaration Exhibit C (33) and By-Laws S)

Leasing & rentals

Not explicitly allowed; occupancy restricted to Owner, permitted guests, and immediate family (Declaration Section 9: 'Each of the Unit)

Architectural approval

Written approval of Board required for alterations, additions, improvements to unit or allocated property (By-Laws Section 5.2)

Home business

Partial use as professional office by owner only (By-Laws Section 5.7(A))

Maintenance

Unit Owner responsible for interior maintenance and repairs; Condominium Board responsible for Common Elements (By-Laws Section 5.1)

Insurance

Property insurance on building at not less than 80% replacement cost; comprehensive general liability insurance with $500,000 minimum aggregate (By-Laws Section 5.4)

Use restrictions

Each Unit may be used as permitted by local law and zoning; partial professional office allowed for owner only (By-Laws Section 5.7(A))

Voting & meetings

Each Unit Owner casts one (1) vote per Unit Owned; cumulative voting in Board elections (By-Laws Sections 4.8 and 4.9)

Amendments

Amendments require vote of at least 66 2/3% of all Unit Owners in number and common interest; Sponsor may amend for floor plans; Board may amend to divide board. Material amendments require 51% consent of eligible mortgage holders. (Declaration 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.