99th Street Homeowners Association, Inc.

Key facts from 99th Street Homeowners Association, Inc.'s documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

HOA (Homeowners Association) (Article I(a): 'Association shall mean 99)

Units / lots

8 dwelling units (4 two-family houses) (Article I(f): 'four (4) two family house)

Governing law

Not-for-profit corporation laws of the State of New York (WHEREAS paragraph 3)

Assessments & dues

Initial reserve fund assessment of $400 per home at closing; annual budget and assessments determined by Board (Article VI Section 3(a) (initial $400); )

Special assessments

Additional assessments may be levied by Board to maintain reserve fund when it falls below minimum (Article VI Section 3(a) ('additional res)

Collections & liens

Unpaid assessment becomes a continuing lien on the home, prior only to tax liens and first mortgage; Association may bring action at law and foreclose lien (Article VI Section 5)

Reserves & fees

Created by Sponsor/Developer for working capital and repairs for common elements (internal sewer line); held in escrow in Association name (Article VI Section 3(a))

Maintenance

Association maintains Drainage System; assessments used for that purpose; owner responsibility for home not specified beyond insurance and compliance with rules (Article VI Section 2 (purpose of assessm)

Use restrictions

Yes, community developed as 'residential community' and homes are 'residential housing' (WHEREAS ('residential community'); Artic)

Voting & meetings

Each owner of a dwelling unit is a member with one vote per home; when multiple owners, one vote exercised by mutual determination; no splitting except cumulative voting in director elections (Article III)

Amendments

Declaration may be amended by instrument signed by 66-2/3% of Home Owners and NYC Department of Buildings; some provisions (Developer easements) require unanimous consent and DOB; covenants automatically extend after 2099 in 10-year periods (Article IX Section 2)

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