1 Clayton Condominium

Key facts from 1 Clayton Condominium's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1, 'DECLARATION OF CONDOMINIUM' and)

Legal name

1 Clayton Condominium

Developer / declarant

1 Clayton L C E D CS

Governing law

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

Assessments & dues

Common Charges and Special Assessments are determined by the Condominium Board and allocated pro-rata according to Unit Owners' respective Common Interests. (By-Laws Section 6.1 and Declaration Sect)

Special assessments

Special Assessments may be levied by the Board for deficits or capital expenditures; limited to 10% of budgeted operating expenses for ensuing twelve months unless approved by 75% of Unit Owners or for health/safety. (By-Laws Section 2.5 (last paragraph): 'n)

Collections & liens

Unpaid Common Charges constitute a lien on the Unit; foreclosure possible. Notice to mortgagees required. (By-Laws Section 6.4: 'Enforcement of Com)

Maintenance

Not explicitly stated; roof likely considered part of Common Elements and therefore Association responsibility. (By-Laws Section 5.1(ii) – Common Element)

Voting & meetings

Each Unit Owner casts one vote per Unit owned; in Board elections each Unit Owner elects one Board Member. Sponsor retains right to designate Board Members during initial control period. (By-Laws Section 4.8 and 4.9: 'each Unit )

Amendments

This Declaration may be amended by vote of all Unit Owners, cast in person or by proxy at a meeting, or by written consent of all Unit Owners. However, amendments adversely affecting mortgage liens require written consent of the mortgagee. (Declaration Section 19)

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