17 Neil Road Condominium

Key facts from 17 Neil Road Condominium's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

17 Neil Road Condominium

Developer / declarant

Yaakov Steinberg (Declaration opening paragraph)

Governing law

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

Assessments & dues

Board of Managers determines and levies monthly assessments to cover common expenses, based on budget. Special assessments may be levied as needed. (By-laws Art.VI Sec.2)

Collections & liens

Common charges constitute a lien on the Unit, prior except for taxes and first mortgages. Lien may be foreclosed like a mortgage. Board may also sue for money judgment. (Declaration TWELFTH; By-laws Art.VI Sec.)

Reserves & fees

Operating account maintained for general operation; Board may maintain other accounts as necessary. (By-laws Art.VI Sec.6, Sec.7)

Pets

Allowed, subject to rules, not to become a nuisance. (By-laws Art.VIII Sec.3)

Leasing & rentals

Yes, but Board has right of first refusal to purchase any Unit offered for sale or lease. (By-laws Art.XI Sec.1)

Parking & vehicles

Commercial license plate vehicles cannot be in Community for a period in excess of 24 hours. (By-laws Art.VIII Sec.8(e))

Architectural approval

Consent requested by certified mail; Board must respond within 60 days; failure to respond means no objection. (By-laws Art.VIII Sec.7, page 26)

Maintenance

Board maintains common elements (exterior walls, roof, public utility lines, roadways). Unit Owner maintains interior (including windows, doors, heating/AC systems, plumbing, electrical within Unit). (By-laws Art.III Sec.6)

Insurance

Fire insurance with extended coverage, water damage, vandalism, malicious mischief, on the Building including Units and fixtures initially installed, in amount equal to full replacement value. Initially at least $600,000. Public liability i (By-laws Art.VII Sec.1, pages 24-25)

Use restrictions

Use of Units restricted to residential occupancy in accordance with applicable zoning. All Units for residential purposes only. (Declaration SEVENTEENTH(i); By-laws Art.)

Voting & meetings

Each Unit Owner has one vote for each percentage of common interest set forth in EXHIBIT B. At Unit Owner meetings, each Unit appoints a Manager to vote. Board decisions must be unanimous. (Declaration EIGHTH; By-laws Art.II Sec.2)

Amendments

Declaration amendment: 66-2/3% of Unit Owners in number and common interest; termination/withdrawal: 80% of Unit Owners and approval of mortgagees representing 51% of unit votes. By-laws amendment: 66-2/3% of Unit Owners in number and commo (Declaration TENTH; By-laws Art.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.