13 King Terrace Condominium

Key facts from 13 King Terrace Condominium's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1, DOC 107147: ccr)

Legal name

13 KING TERRACE CONDOMINIUM

Developer / declarant

13 KING TERRACE CONDOMINIUM

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 3, DOC 107147: ccr)

Assessments & dues

Condominium Board determines Common Charges and Special Assessments, collects from Unit Owners. (Section 2.4(v) of By-Laws (Page 24-25, D)

Special assessments

Defined in Exhibit C; can be levied by Board in accordance with Section 6.1(C) of By-Laws. (Exhibit C (Page 17, DOC 107147: ccr) and)

Collections & liens

Assessment liens are referenced (Article 19(iii) of Declaration). Notice of unpaid common charges and default is addressed in Section 8.3 of By-Laws. (Article 19(iii) of Declaration (Page 10,)

Reserves & fees

Special Assessments for creation or replacement of reserve fund require Sponsor consent initially (Section 2.5(B)(ii) of By-Laws). (Section 2.5(B)(ii) of By-Laws (Page 26-2)

Leasing & rentals

Leasing is not prohibited, but restrictions on leasing require mortgagee consent (Article 19(x) of Declaration). (Article 19(x) of Declaration (Page 10, D)

Architectural approval

Board approval required for any alteration, addition, improvement or change to a Unit. (Article 10 of Declaration (Page 6, DOC 1)

Maintenance

Unit Owner responsible for interior walls, ceilings, floors, fixtures, appliances, windows, doors, exposed plumbing, etc. Condominium Board responsible for Common Elements. Limited Common Elements (decks and parking) maintained by Unit Owne (Section 5.1 of By-Laws (Pages 36-37, DOC)

Insurance

Board may determine deductible amounts. (Section 5.4(C) of By-Laws (Page 40, DOC )

Use restrictions

Each Unit may be used for residential purposes in accordance with zoning, regulations, and Certificate of Occupancy. (Article 9 of Declaration (Page 6, DOC 10)

Voting & meetings

Each Unit Owner (including Sponsor) entitled to one vote per Unit Owned. After Sponsor Control, each Unit Owner elects one Board Member. (Sections 4.8 and 4.9 of By-Laws (Pages 3)

Amendments

By unanimous vote of Unit Owners or written consent; certain amendments require mortgagee consent; Sponsor may amend for incomplete additions. (Article 19 of Declaration (Pages 9-10, D)

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