Seven Five Main Street Condominium

Key facts from Seven Five Main Street Condominium's documents

Reflects the 2022 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 2: "The name of this condominium)

Legal name

75 Main Street Condominium Owners' Association, Inc.

Developer / declarant

EQUINET PROPERTIES, LLC

Governing law

Condominium Act of the State of New Jersey (P.L. 1969, c.257, N.J.S. 46:8B-1 et seq.) ([[PAGE 2]] WHEREAS clause)

Assessments & dues

Fixed by Association, not predetermined (Section 8(b): "It shall be an affirmativ)

Special assessments

Added assessment for Common Expenses (no vote required); capital improvement assessment requires 3/4 vote of Unit Owners (Section 8(b): "The Association may levy,)

Collections & liens

Assessment is a continuing lien on the unit, subordinate to first mortgage; enforcement under N.J.S.A. 46:8B-21 (Section 8 (page 12): "Each such assessme)

Reserves & fees

Required: Association must create a reserve fund for replacement of Common Elements (Section 8(b): "sufficient to create a re)

Leasing & rentals

Yes, with restrictions (Section 12(i)(1): "A Unit Owner may leas)

Parking & vehicles

Prohibited: no commercial vehicles larger than panel truck or 1/2-ton pickup; no mobile home, RV, boat, trailer without written consent (Section 12(k): "No commercial vehicles o)

Signs & flags

No signs on outside of windows or walls; no 'For Sale' signs except as per Rules and Regulations (Section 12(l): "shall not cause or permi)

Maintenance

Unit owner responsible for Unit maintenance; Association responsible for Common Elements; Unit owner responsible for Limited Common Elements except structural modifications (Section 9(a): "Each Unit Owner shall fur)

Insurance

Full replacement value blanket property insurance on the Building within his Unit (Section 13(b): "Each Unit Owner shall ob)

Use restrictions

Single-family residential use only (Section 12(a): "no Unit shall be used fo)

Voting & meetings

One vote per unit (Section 22: "Each Unit Owner shall be en)

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