Horton Drive Condominium

Key facts from Horton Drive Condominium's documents

Reflects the 2013 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Declaration establishes condominium owne)

Developer / declarant

Shimmy's Enterprise II LLC (First page of Declaration)

Governing law

Article 9-B of the Real Property Law of the State of New York (FIRST: Submission of Property)

Assessments & dues

Board of Managers annually fixes budget and determines common charges (ARTICLE VI Section 2: The Board shall an)

Special assessments

Board may levy special assessments for deficits or improvements; improvements over $5,000 require approval of a majority of Home Owners (excluding Sponsor if it still owns units) (By-laws Article II Section 5 items 1, 12)

Collections & liens

Unpaid common charges constitute a lien on the Home, prior except for tax liens and first mortgages. Board may foreclose like a mortgage after 90 days delinquency. (Declaration TWELFTH; By-laws Article VI )

Reserves & fees

$60 per month (ARTICLE VI Section 2: charge delinquent )

Leasing & rentals

Yes, Home may be leased provided all unpaid common charges are paid (By-laws Article XI Section 1)

Architectural approval

60 days (Board shall have obligation to answer wi)

Maintenance

Board of Managers (common expense) (By-laws Article II Section 6 (common ele)

Insurance

Fire insurance with extended coverage, water damage, vandalism, malicious mischief insuring Building including all Homes and fixtures initially installed by Sponsor, in an amount equal to full replacement value; also public liability insura (By-laws Article VII Section 1)

Voting & meetings

Each Home Owner has one vote for each percentage of common interest (Declaration EIGHTH)

Amendments

Declaration may be amended by instrument executed by Board upon vote of 80% of Home Owners at a duly called meeting. Certain changes require consent of all affected Home Owners and first mortgagees. By-laws may be amended by 80% vote at a m (Declaration TENTH; By-laws Article X)

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