5 Mosier Court Condominium

Key facts from 5 Mosier Court Condominium's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Title: 'CONDOMINIUM DECLARATION' and §2)

Legal name

5 MOSIER COURT CONDOMINIUM

Developer / declarant

MOSES INDIG

Governing law

Article 9-B of the Real Property Law of the State of New York (§2; §26 (Conflicts))

Assessments & dues

Condominium Board determines amount of Common Charges and Special Assessments, allocated pro-rata according to Common Interests (By-Laws §2.4(A)(v); Declaration §6)

Special assessments

Charges allocated and assessed by Board pro-rata in accordance with Common Interests, except as otherwise provided (Exhibit C (33) Special Assessments; By-L)

Reserves & fees

Only a twelve-month reserve for contingencies not exceeding 10% of budgeted operating expenses allowed without 75% Unit Owner approval; establishment of any other reserves requires 75% approval (By-Laws §2.5(B)(iv))

Insurance

All-risk extended coverage, vandalism, malicious mischief insuring building (including Units and fixtures), with waivers of subrogation, co-insurance, and New York standard mortgagee clause. Also rent insurance, workers compensation, boiler (By-Laws §5.4(A), (B))

Voting & meetings

Each unit owner casts one vote per percentage of interest owned; cumulative voting allowed in Board elections (By-Laws §2.7; §4.8(A))

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