2 Francis Place Condominium

Key facts from 2 Francis Place Condominium's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

2 Francis Place Condominium

Developer / declarant

Williamsburg Equities LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1, Declaration preamble)

Special assessments

Charges allocated pro-rata by Common Interests (except as otherwise provided) in accordance with By-Laws Section 6.1(C) (Exhibit C Definition (33) and By-Laws Se)

Reserves & fees

Board may establish reserves, but not more than a twelve-month reserve for contingencies not exceeding 5% of budgeted operating expenses (By-Laws Section 2.3(iv))

Home business

With consent of Condominium Board, a Unit may be used as a business office or for any other purpose complying with law and Certificate of Occupancy (Article 8(a)(ii) of Declaration)

Use restrictions

Each Unit (except retail/community facility units) may be used only as a residence (Article 8(a) of Declaration)

Voting & meetings

One vote per Unit. Co-owners designate one person to vote. Proxy allowed for up to 6 months. Fiduciary votes for owned unit. (By-Laws Section 4.7 (A)-(C))

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