7 Merrick Drive Condominium

Key facts from 7 Merrick Drive Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Title and throughout)

Legal name

7 Merrick Drive Condominium

Developer / declarant

Merrick Avenue Construction Corp.

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration introductory paragraph and S)

Assessments & dues

Board fixes annual budget and assesses common charges according to common interest percentages (By-laws Art.VI Sec.2)

Special assessments

Special assessments levied and paid same manner as regular assessments (By-laws Art.VI Sec.2)

Collections & liens

Unpaid common charges constitute a lien on the unit, prior to all except taxes and first mortgage; foreclosable after 90 days past due; Board may purchase unit at foreclosure sale (Declaration Art.12; By-laws Art.VI Sec.2)

Reserves & fees

Interest at maximum legal rate from due date (By-laws Art.IX; Declaration Art.12)

Pets

Pets are allowed but must not be a nuisance (By-laws Art.VIII Sec.3)

Leasing & rentals

Leasing allowed subject to payment of all unpaid common charges; lease in violation is voidable (By-laws Art.X Sec.1)

Parking & vehicles

Commercial license plate vehicles may not be parked for more than 24 hours (By-laws Art.VIII Sec.6(e))

Architectural approval

Written consent of Board required for alterations to outside of Unit or common elements, and for any alteration impairing structural soundness (Declaration Art.17(b))

Maintenance

Board (part of common elements) (By-laws Art.III Sec.6: 'roof and roof me)

Insurance

Fire insurance with standard extended coverage, 80% coinsurance, payable to mortgagee; public liability insurance (By-laws Art.VII)

Use restrictions

All Units shall be used for residential purposes only (By-laws Art.VIII Sec.2; Declaration Art.)

Voting & meetings

Each Unit Owner is entitled to one vote per unit owned (or per percentage of common interest, which is 50% per unit) (By-laws Art.II Sec.2; Declaration Art.8)

Amendments

Amendments require 2/3 vote of all Unit Owners; material adverse amendments to first mortgagees require consent of mortgagees representing at least 51% of unit votes (By-laws Art.IX; Declaration Art.10)

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