52 Herrick Condominium

Key facts from 52 Herrick Condominium's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

52 Herrick Condominium

Developer / declarant

Heyme Bleier

Governing law

Article 9-B of the Real Property Law of the State of New York (FIRST: Submission of Property)

Assessments & dues

Board of Managers shall determine budget and levy monthly assessments (common charges) pro-rata according to respective common interest. (By-laws Article VI Section 2)

Special assessments

Special assessments may be levied and paid in the same manner as regular assessments. (By-laws Article VI Section 2)

Collections & liens

Unpaid common charges constitute a lien prior to all other liens except tax liens and first mortgages. Lien may be foreclosed in like manner as a mortgage. The Condominium may recover costs and reasonable attorneys' fees. (Declaration ELEVENTH, By-laws Article IX)

Reserves & fees

Budget includes 'reserves' for maintenance, repair, and replacement of common elements. (By-laws Article VI Section 2)

Leasing & rentals

Yes, but subject to right of first refusal of the Board of Managers. No sale or lease unless all unpaid common charges are paid. Any sale or lease violating provisions is voidable at Board's election. (By-laws Article XI Section 1)

Use restrictions

Use of Units shall be restricted to Residential Occupancy. (Declaration SEVENTEENTH (g) and zoning r)

Voting & meetings

Each Unit Owner shall have one vote for each Unit owned. The Board of Managers shall not cast any of its votes for a Unit owned by the Board. (By-laws Article II Section 1 and Section)

Amendments

Declaration: Amendments by Board upon vote of 80% of Unit Owners in number, except changes to parcel, common charges, or voting rights require unanimous consent of affected owners and mortgagees. By-laws: Amendment requires 80% Unit Owners (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.