5 Johanna Lane Condominium

Key facts from 5 Johanna Lane Condominium's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration Article 1, "submits the prop)

Legal name

5 Johanna Lane Condominium

Developer / declarant

Board of Managers of 5 Johanna Lane Condominium

Governing law

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

Assessments & dues

Board fixes budget at least annually, prorated according to common interest percentages (By-laws Article VI Section 2)

Special assessments

Allowed, levied in same manner as regular assessments (By-laws Article VI Section 2)

Collections & liens

Unpaid common charges constitute a lien on Unit, prior to all other liens except tax liens and first mortgage sums; Board may foreclose after 90 days' notice (Declaration Article 12; By-laws Article )

Leasing & rentals

Yes, but subject to Board's right of first refusal and payment of all unpaid common charges (By-laws Article XI Section 1)

Parking & vehicles

Commercial license plate vehicles may not be parked in the Community for more than 24 hours (By-laws Article VIII Section 6(e))

Architectural approval

Prior written consent of Board required for alterations to common elements, fences/gates, painting exterior surfaces (Declaration Article 17(j); By-laws Artic)

Maintenance

Unit Owner responsible for interior maintenance including windows, doors, heating/AC, plumbing, electrical within Unit; Board responsible for common elements, exterior painting (By-laws Article III Section 6)

Insurance

Fire insurance on Buildings for full replacement value; public liability insurance with $1,000,000 single limit (By-laws Article VII Section 1-2)

Use restrictions

All Units shall be used for residential purposes only (Declaration Article 17(i); By-laws Artic)

Voting & meetings

Each Unit Owner has one vote per percentage of common interest; each Unit appoints a Manager to vote (Declaration Article 8; By-laws Article I)

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