36 Paiken Drive Condominium

Key facts from 36 Paiken Drive Condominium's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

36 PAIKEN DRIVE CONDOMINIUM

Developer / declarant

36 PAIKEN LLC

Governing law

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

Assessments & dues

The Board of Managers shall, at least annually, fix and determine the budget and send a copy to every Unit Owner and mortgagee. (By-Laws, Article VI, Section 2, page 20)

Collections & liens

Unpaid common charges constitute a lien on the Unit, prior to all other liens except tax liens and first mortgages. Foreclosure may occur after 90 days notice, in like manner as a mortgage. (Declaration, Article 12, page 6; By-Laws)

Reserves & fees

If a Unit Owner fails to pay within a grace period, the Board may impose a monthly fee of not more than $50. (By-Laws, Article VI, Section 2, page 20)

Pets

Pets are allowed subject to not being illegal, disturbing, or a nuisance. (By-Laws, Article VIII, Section 3, page 2)

Leasing & rentals

Units may be leased, but all unpaid common charges must be paid prior to lease. The Board of Managers has a right of first refusal to buy any Unit offered for resale. (By-Laws, Article XI, Section 1, page 24-)

Parking & vehicles

Commercial license plate vehicles may not be parked in the Community for a period in excess of 24 hours. (By-Laws, Article VIII, Section 8(e), pag)

Maintenance

Board of Managers maintains common elements, exterior, and structural components. Unit Owners maintain interior repairs, painting, plumbing, windows, doors, HVAC, pipes within unit. (By-Laws, Article III, Section 6, page 16)

Insurance

Board shall obtain fire insurance with extended coverage, vandalism, malicious mischief, water damage, to full replacement value of Buildings. (By-Laws, Article VII, Section 1, page 21)

Use restrictions

All Units shall be used for residential purposes only. (By-Laws, Article VIII, Section 2, page 2)

Voting & meetings

Each Unit Owner shall have one vote for each percentage of common interest set forth in Exhibit 'B'. (Declaration, Article 8, page 5)

Amendments

By-Laws may be amended by vote of at least 66 2/3% of all Unit Owners at a meeting, with notice of amendment. Mortgagee consent required for material amendments. (By-Laws, Article X, page 24)

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