4 Merrick Drive Condominium

Key facts from 4 Merrick Drive Condominium's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Page 1: "CONDOMINIUM" in name)

Legal name

4 MERRICK DRIVE CONDOMINIUM

Developer / declarant

LANE ST BUILD LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1: "PURSUANT TO ARTICLE 9-B OF THE )

Assessments & dues

Condominium Board determines Common Charges and Special Assessments based on a budget; collected from Unit Owners pro rata according to Common Interests (Section 2.4(iv) and (v) (page 24): "to d)

Special assessments

Defined as charges allocated and assessed by Condominium Board to Unit Owners pro rata in accordance with Common Interests, per Section 6.1(C) of By-Laws (Exhibit C, definition (32) (page 17))

Collections & liens

Board may create liens for unpaid common charges; no lien on Unit or its Appurtenant Interests without consent of Unit Owner; any Unit Owner who pays proportionate share can obtain release of lien against his Unit (Section 2.4(vi)(c) and (d) (page 24-25))

Reserves & fees

Condominium Board may establish reserve fund for working capital, replacements, deficits; but during Sponsor control, Board cannot assess for reserve without Sponsor consent except as required by law (Section 2.5(ii) (page 27): "assess any C)

Architectural approval

Alterations, additions, improvements, or changes to a Unit require prior written approval of Condominium Board (Section 5.2 (page 37-38): "no Unit Owner)

Maintenance

Unit Owner responsible for interior maintenance, repairs, replacements (including walls, ceilings, floors, fixtures, windows, doors, plumbing, heating fixtures, etc.); Condominium Board responsible for Common Elements as Common Expense (Section 5.1(A)(i) and (ii) (page 36-37))

Insurance

Condominium Board shall determine deductible amounts (Section 5.4(C) (page 39): "Any insurance)

Use restrictions

Units may be used in accordance with local law and zoning; any Unit may be partially used as a professional office by the owner of such unit only (Section 5.7(A) (page 42): "Any Unit may )

Voting & meetings

Each Unit Owner casts one vote per Unit owned; in Board elections, each Unit Owner elects one Board Member (Sections 4.8(A) and 4.9(A) (page 35-36):)

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