10 North Gate Drive Condominium

Key facts from 10 North Gate Drive Condominium's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Throughout, e.g., '10 NORTH GATE DRIVE C)

Legal name

10 North Gate Drive Condominium

Developer / declarant

Berel Karnio

Governing law

Article 9-B of the Real Property Law of the State of New York (PAGE 3: 'PURSUANT TO ARTICLE 9-B OF THE )

Assessments & dues

Board of Managers determines and levies monthly assessments (common charges) to cover expenses. They may increase monthly assessments as needed. (By-laws Article III Section 5 item 1 (PA)

Special assessments

Board may levy special assessments for litigation costs and for restoration deficits after insurance claims. Special assessments are levied and paid in the same manner as regular assessments. (By-laws Article III Section 5 item 10 (P)

Collections & liens

Unpaid common charges constitute a lien on the Unit, prior to all other liens except taxes and first mortgages. Board may foreclose like a mortgage, and also recover reasonable attorney's fees. Foreclosure action required if unpaid 90 days (Declaration Article 12 (PAGE 6-7); By-la)

Reserves & fees

Board may charge a delinquent Unit Owner a monthly fee of not more than $15 to cover additional burden caused by late payment. (By-laws Article VI Section 2 (PAGE 19))

Use restrictions

All Units shall be used for residential purposes only. (By-laws Article VIII Section 2 (PAGE 22))

Voting & meetings

Each Unit Owner has one vote per percentage of common interest. At meetings, each Unit appoints a Manager who votes. Majority of Unit Owners present in person or proxy decides questions unless otherwise specified. (Declaration Article 8 (PAGE 6); By-laws )

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