16 Slavita Road Condominium

Key facts from 16 Slavita Road Condominium's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Declaration page 1, Article 9-B of Real )

Legal name

16 SLAVITA ROAD CONDOMINIUM

Developer / declarant

OSTEREH PROPERTIES LC

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration First article, page 4)

Assessments & dues

Board of Managers fixes budget annually, determines total amount, assesses pro-rata according to common interest (By-laws Article VI Section 2)

Special assessments

Allowed; levied and paid in same manner as regular assessments; can be voted if needed to meet additional expenses (By-laws Article III Section 4(1) and Art)

Collections & liens

Unpaid common charges constitute a lien on the Unit, prior to all other liens except tax assessments and first mortgages; may be foreclosed like a mortgage (Declaration Twelfth article)

Reserves & fees

Not explicitly mentioned; only operating account and other accounts (By-laws Article VI Sections 6 and 7)

Leasing & rentals

Allowed, but subject to Board's right of first refusal to buy; no sale or lease until all unpaid charges paid and first offer to Board; violation voidable (By-laws Article XI Section 1)

Parking & vehicles

Commercial license plate vehicles may not be parked in Community for more than 24 hours (By-laws House Rules Section 8(e))

Architectural approval

Written consent of Board required for exterior alterations, alterations impairing structural soundness, and alterations to common elements (Declaration Seventeenth (b); By-laws Hou)

Maintenance

Common element; maintenance is common expense (Declaration Fifth article (outside walls)

Insurance

Fire insurance with extended coverage, water damage, vandalism, malicious mischief, covering building including Units and improvements, full replacement value; also public liability insurance (By-laws Article VII Section 1)

Use restrictions

Occupancy restricted to Residential Occupancy per zoning; but one unit is commercial (Exhibit B) (Declaration Seventeenth (i); Exhibit B)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest (Declaration Eighth article)

Amendments

Declaration amendment requires 80% of Unit Owners in number and common interest, plus approval by mortgagees representing at least 51% of unit votes (first mortgages); By-laws amendment requires 66-2/3% of Unit Owners in number and common i (Declaration Tenth article; By-laws Artic)

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