30 Herrick Avenue Condominium

Key facts from 30 Herrick Avenue Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1)

Legal name

30 HERRICK AVENUE CONDOMINIUM

Developer / declarant

HERRICK HOMES 2 LLC (Page 1)

Governing law

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

Assessments & dues

Board prepares budget and determines Common Charges and Special Assessments (Section 2.4(iv)-(v) of By-Laws, Page 25)

Special assessments

Allowed; Board may levy; during Sponsor control, Sponsor's prior written consent required except for expenses required by law, remedy violation, insurer work order, or health/safety (Section 2.5(A)(ii) and (B) of By-Laws, P)

Collections & liens

Board may perfect lien against Unit for unpaid Common Charges; vote of Unit Owner precluded if lien perfected and unpaid (Section 4.8(B) of By-Laws, Page 36; Arti)

Reserves & fees

Board may establish reserves; during Sponsor control, only 12-month reserve for contingencies not exceeding 10% of budgeted operating expenses unless for required items (Section 2.5(B)(ii) of By-Laws, Page 29)

Leasing & rentals

Implicitly allowed; Article 7 establishes Right of First Refusal for transfers including leases; Unit Owners may lease subject to Board's right (Article 7 of By-Laws, Pages 21-22)

Architectural approval

Yes; written consent of Board required for alterations, additions, improvements to any part allocated to unit, changes to layout, exterior alterations if design differs from original (Article 10(ii)-(iv) of Declaration, Page)

Maintenance

Not explicitly stated; likely Board as Common Element (No direct cite)

Insurance

Board obtains fire insurance with extended coverage, vandalism, malicious mischief, insuring Building including Units' fixtures, cabinets, equipment; also general liability, rent, workers compensation, boiler and machinery insurance (Section 5.4(A)-(B) of By-Laws, Pages 40-)

Use restrictions

Units shall be used for sleeping, cooking and/or living purposes, or habitable space as defined by New York State Building Code (Article 9 of Declaration, Page 6)

Voting & meetings

Each Unit Owner is entitled to cast one (1) vote for each percentage of interest owned; cumulative voting allowed; Sponsor has same voting rights as other Unit Owners (Section 2.7 of By-Laws, Page 29)

Amendments

Amendment of Declaration requires unit owner consent (majority? not specified), plus mortgagee consent for material amendments (51% of votes of unit estates subject to mortgages); Board may amend to divide Board without unit owner consent; (Article 19(a)-(b) of Declaration, Page 1)

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