4 Sherwood Condominium

Key facts from 4 Sherwood Condominium's documents

Community type

Condominium

Legal name

4 SHERWOOD CONDOMINIUM

Developer / declarant

4 SHERWOOD BIOLDINGS,LL

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 3, Section 2)

Assessments & dues

Board determines amount and establishes means and methods of payment of Common Charges and Special Assessments (By-Laws Section 2.4(A)(v), Page 25)

Special assessments

Condominium Board may levy Special Assessments pro-rata in accordance with Common Interests (Definition (32) in Exhibit C, Page 18; B)

Leasing & rentals

Leasing is permitted but subject to Right of First Refusal (Article 7 of By-Laws) and restrictions may be imposed by material amendment (By-Laws Article 7 (Right of First Refusa)

Architectural approval

Unit Owner must obtain approval of Board for any alteration, addition, improvement, or change in, to, of or upon a Unit (Declaration Section 9; By-Laws Section 5.2) (Declaration Section 9, Page 5-6; By-Laws)

Home business

Any Unit may be partially used as a professional office by the owner of such Unit only (By-Laws Section 5.7(A), Page 43)

Maintenance

Unit Owner responsible for all painting, decorating, maintenance, replacements in or to Unit (interior walls, floors, fixtures, windows, doors, etc.); Board responsible for Common Elements (By-Laws Section 5.1(A), Pages 37-38)

Insurance

Board determines deductible amounts (By-Laws Section 5.4(C), Page 40)

Use restrictions

Each Unit may be used in accordance with local law and zoning; not more than one family may occupy a Unit at one time (Declaration Section 9, Pages 5-6)

Voting & meetings

Each Unit Owner casts one vote per Unit; in Board elections, each Unit Owner elects one Board Member (By-Laws Section 4.9(A), Page 37)

Amendments

Declaration may be amended by vote of all Unit Owners, with written consent or at a meeting; Sponsor may amend to correct Floor Plans without consent; material amendments require consent of mortgage holders representing at least 51% of vote (Declaration Section 19, Pages 10-11)

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