10A Sunrise Drive Condominium

Key facts from 10A Sunrise Drive Condominium's documents

Reflects the 2009 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

10A SUNRISE DRIVE CONDOMINIUM

Developer / declarant

MEMAMAKIM LLC, with an address at 19 Vincent Road, Spring Valley, New York 10977 (Declaration, introductory paragraph)

Governing law

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

Assessments & dues

Condominium Board adopts a budget each fiscal year and determines Common Charges and Special Assessments. Common Charges are allocated based on each unit's Common Interest (equal per unit). Special Assessments are allocated pro-rata based o (By-Laws Section 2.4(v); Section 6.1; Def)

Special assessments

Board may levy Special Assessments. For borrowing over $5,000 in any fiscal year requires consent of all board members and all unit owners. For alterations to common elements costing over $5,000 in a calendar year require approval of all un (By-Laws Section 2.4(vi); Section 5.3)

Reserves & fees

Board may establish reserves, but any reserve for maintenance, repairs, improvements, or replacements other than a twelve-month operating reserve or contingencies not exceeding 5% of budgeted operating expenses requires approval of 75% of U (By-Laws Section 2.5(B)(iv))

Leasing & rentals

Yes; each Unit may be occupied by the Owner or his permitted lessees and members of their immediate family. (Declaration Article 9)

Maintenance

Maintenance, repair, and replacement of common areas and structures including roof shared with 10B Sunrise Drive Condominium; costs apportioned according to respective condominium's share. (Declaration Article 9(5))

Insurance

Condominium Board shall obtain fire insurance with all risks, extended coverage, vandalism and malicious mischief endorsements, insuring the Building (including improvements, bathroom, kitchen, laundry fixtures). Also comprehensive general (By-Laws Section 5.4(A) and (B))

Use restrictions

Each unit may be used in accordance with local law and zoning; not more than one family may occupy a unit at one time. (Declaration Article 9)

Voting & meetings

Each unit has one vote per unit owner (common interest equal per unit). Sponsor has additional power: designates majority of board during control period. After control, Sponsor votes as other owners; if Sponsor owns majority of units (2 uni (By-Laws Section 2.7; Section 4.8)

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