132 Route 306 Condominium

Key facts from 132 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 (Title: 'Declaration Establishing a Plan )

Legal name

132 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 (Condominium Act) (Page 1 'Pursuant to Article 9-B...' and )

Assessments & dues

Board prepares annual budget, sets Common Charges and Special Assessments allocated pro-rata by Common Interest percentages. (Section 2.4(A)(iv) and (v), Section 6.1)

Special assessments

Board may levy Special Assessments pro-rata except as otherwise provided. (Exhibit C Definitions (33), Section 2.4()

Collections & liens

Board may perfect a lien against a unit for unpaid Common Charges; no vote at meetings until lien released. Borrowing may create lien on common elements but not on units without owner consent. (Section 4.8(B), Section 2.4(A)(vi)(c))

Reserves & fees

Contingency or surplus fund mentioned; Sponsor will not unreasonably withhold consent to use contingency fund for expenditures required by law. (Section 2.7 (paragraph on Sponsor consen)

Leasing & rentals

Yes, subject to right of first refusal and other terms of Article 7 of By-Laws. (Article 7: Selling and Leasing of Units)

Architectural approval

Board approval required for alterations, additions, improvements to Units. For structural work exceeding $5,000 in aggregate in a calendar year, all Unit Owners must approve. Unit 3 roof extension permitted under specific conditions. (By-Laws Section 5.2(A) and (D); Declarat)

Home business

Any Unit may be partially used as a professional office by the owner of such unit only. (Section 5.7(A))

Insurance

Fire insurance with extended coverage, vandalism, malicious mischief; covers building including Units (excluding owner's personal property). Also comprehensive general liability, boiler and machinery, workers' compensation, and other insura (Section 5.4(A) and (B))

Use restrictions

Units to be occupied only by Owner and members of immediate family. Partial use as professional office by owner allowed. (Declaration Section 9, By-Laws Section 5)

Voting & meetings

Each Unit Owner (including Sponsor for unsold units) casts one vote per unit owned. Cumulative voting allowed for directors. Sponsor designates majority during initial control. (Section 2.7, Section 4.8(A), Section 4.9)

Amendments

Declaration amendment must be recorded in Rockland County Clerk's office. By-Laws amendment per Article 12 (procedure not detailed but must be added). (Declaration Section 19; By-Laws Article )

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