241 249 Adar Court Condominium

Key facts from 241 249 Adar Court Condominium's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration title: '241-249 ADAR COURT C)

Legal name

241-249 Adar Court Condominium

Developer / declarant

Ezriel Tauber

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration FIRST paragraph; By-laws Art)

Assessments & dues

Board fixes budget at least annually; total expenses prorated among Units according to common interest percentages (50% each) (By-laws Article VI Section 2)

Special assessments

Levied and paid in same manner as regular assessments (By-laws Article VI Section 2)

Collections & liens

Unpaid common charges constitute a lien on the Unit, prior to all other liens except tax and first mortgage; lien may be foreclosed; mortgagee acquiring title not liable for prior unpaid charges (Declaration ELEVENTH; By-laws Article VI)

Reserves & fees

Interest at highest legal rate in New York from due date until paid (By-laws Article VI Section 2; Article IX)

Pets

Yes, but must not be a nuisance or disturbing; pets included in familial use (By-laws Article VIII Section 3)

Leasing & rentals

Yes, but subject to right of first refusal by Board; unpaid common charges must be paid prior to conveyance or lease (By-laws Article XI Section 1)

Parking & vehicles

Commercial license plate vehicles may not be parked in Community for more than 24 hours (By-laws Article VIII Section 8(e))

Architectural approval

Yes, written consent of Board required for any alteration affecting structural soundness; for fences/gates; for any structure on common elements (By-laws Article VIII Sections 6(b), 8(d))

Maintenance

Roof and roof members are common elements, maintained by Board as common expense (By-laws Article III Section 6)

Insurance

Fire insurance with extended coverage, vandalism, malicious mischief, covering building and improvements; public liability insurance covering Board, managing agent, and each Unit Owner; also coverage for cross liability (By-laws Article VII Section 1)

Use restrictions

Occupancy restricted to residential occupancy in accordance with applicable zoning (Declaration SEVENTEENTH (i); By-laws Art)

Voting & meetings

Each Unit Owner has one vote per Unit owned; Board of Managers (when acting as Sponsor) cannot vote for election to Board; each Unit appoints a Manager who votes in person or by proxy (By-laws Article II Sections 2, 5)

Amendments

Declaration may be amended by instrument executed by Board upon vote of 66 2/3% of Unit Owners in number, plus approval by mortgagees holding 51% of first mortgage votes; By-laws may be amended by vote of 66 2/3% of Unit Owners in number an (Declaration TENTH; By-laws Article X)

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