Bears Crossing Condo

Key facts from Bears Crossing Condo's documents

Reflects the 2004 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (WHEREAS paragraphs and Article I)

Governing law

New Jersey Condominium Act, N.J.S. 46:8B-1 et seq. (Article I, Article II §2.13, recitals)

Assessments & dues

Determined by Board; amount sufficient to maintain and operate Common Elements (Article VII §7.03)

Special assessments

Special Common Expense Assessment allowed; if exceeds 10% of annual budget requires 60% approval of affected members. Capital Improvement Assessment requires simple majority if cost exceeds 10% of annual budget. (Article VII §7.10, §7.11)

Collections & liens

Assessments are a continuing lien on the Unit; may be foreclosed like a mortgage (Article VII §7.02)

Reserves & fees

Reserves included as part of Common Expenses (definition) (Article II §2.11)

Pets

Yes, as permitted by Rules and Regulations (Article XI §11.01(b))

Leasing & rentals

Yes, commercial units may be leased with Board approval of tenant (Article XI §11.03)

Architectural approval

Yes, Board approval required for structural additions, alterations, improvements (Article XI §11.02)

Maintenance

Association responsible for roof (part of General Common Elements) (Article VIII §8.02(a); Article V §5.01(g)

Voting & meetings

Each Unit one unweighted vote for trustees; otherwise vote weight equals percentage interest. Sponsor may vote unsold units but not for certain purposes (amendment, reducing common elements, etc.) (Article VI §6.05, §10.03)

Amendments

Master Deed may be amended; Sponsor has power of attorney for certain amendments with limitations; Association has power for specified amendments (e.g., eminent domain, reconfiguration). Amendment requires written consent if affecting value (Article X §10.02(b); §10.04; Article IV )

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