Kings Condominium

Key facts from Kings Condominium's documents

Reflects the 2018 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

Kings Condominium Association, Inc.

Units / lots

1 (Lot 11.01 in Block 5201) (Exhibit A (Legal Description))

Developer / declarant

Millennium Development Group, L.L.C.

Governing law

N.J.S.A. 46:8B-1 et seq. (New Jersey Condominium Act) (Preamble and Article I 1.11)

Assessments & dues

Not fixed; Board sets amount estimated to be sufficient to pay Common Expenses (Article VI 6.03)

Special assessments

Requires approval of both Unit Owners and the Madison Affordable Housing Corporation and/or the Borough of Madison (unless emergency repairs ordered by municipality) (Article VI 6.07)

Collections & liens

Unpaid assessments, fines, or other charges constitute a continuing lien on the Unit, subordinate to first mortgages; may be foreclosed like a mortgage (Article VI 6.02)

Reserves & fees

Not explicitly, but lien includes interest and cost of collection including attorney's fees (Article VI 6.02)

Pets

Yes, limited to two dogs or two cats or combination not exceeding two in aggregate; no reptiles or other animals (Article X 10.01(b))

Fences

Separation fence/row of shrubs in rear yard is a General Common Element maintained by Association (Article IV 4.01(b) and Article VII 7.02)

Architectural approval

Association approval required before any change to exterior appearance of Unit, Building, or specifically reserved areas. Also, both Unit Owners must agree to modifications to main walls, siding, roof, yards, etc. (Article III 3.04 and Article VII 7.01)

Maintenance

Association shall furnish maintenance, repairs and replacements required to the roof (Article VII 7.02)

Insurance

Deductible under Association's policy is the responsibility of the Unit Owner when damage is only to parts for which that Owner is responsible (Article XII 12.03)

Voting & meetings

Each Unit Owner entitled to one (1) vote per Unit (Article V 5.03)

Amendments

Amendment of Master Deed requires consent of Madison Affordable Housing Corporation and Borough of Madison. Material amendments require consent of 51% of Eligible Mortgage Holders. Termination requires approval of both Owners, Sponsor (if h (Article XIV 14.03, Article XV 15.02, 15.)

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