22 Suzanne Drive Condominium

Key facts from 22 Suzanne Drive Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

22 Suzanne Drive Condominium

Developer / declarant

22 SUZANNE LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 1, Page 3)

Assessments & dues

Board fixes annual budget, prorated among units according to common interest percentage. Special assessments levied similarly. Assessments payable monthly. (Article VI Section 2 (Page 17))

Special assessments

Allowed, levied in same manner as regular assessments. (Article VI Section 2 (Page 17-18))

Collections & liens

Unpaid common charges constitute a lien on the unit, prior to all liens except tax and first mortgage. After 90 days unpaid, Board may foreclose lien. Board may purchase unit at foreclosure. (Article XII (Page 7), Article VI Section)

Reserves & fees

Not explicitly mentioned; budget includes deficits from prior years. (Article VI Section 2 (Page 17) mentions )

Leasing & rentals

Yes, but unit owner must pay all unpaid common charges before leasing. Lease in violation is voidable at Board's election. (By-laws Article IX Section 1 (Page 21))

Architectural approval

Written consent required for exterior alterations, structural interior alterations, and changes to common elements or limited common elements. (Article 17(b) (Page 8), By-laws Section )

Maintenance

Common expense; Board maintains roof and roof members. (Article III Section 6 (Page 14))

Insurance

Board shall maintain fire insurance on all Units and common elements, initially at least $600,000 full replacement value. Also public liability insurance. (Article VII Section 1 (Page 18-19))

Use restrictions

All Units shall be used for residential purposes only. (Article VIII Section 2 (Page 20), Articl)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest. Each unit appoints a Manager to vote. Votes may be cast by proxy. (Article II Section 4 (Page 10) and Secti)

Amendments

Amendment requires resolution by Board of Managers, approval by majority of Unit Owners at meeting, and recording. For material adverse changes, consent of mortgagees holding at least 51% of unit votes needed. (Article 10 (Page 6-7))

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