Cloisters a Condo

Key facts from Cloisters a Condo's documents

Reflects the 1987 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

The Cloisters, A Condominium

Governing law

N.J.S.A. 46:8B-1 et seq. (Page 4, Establishment of Condominium)

Assessments & dues

Fixed annually by Board in amount sufficient to maintain common elements (Page 13, Common Expense Assessments (a))

Special assessments

May levy for capital improvements in excess of $10,000 only with assent of 66-2/3% of all votes eligible to be cast; Grantor votes ineligible (Page 14, Common Expense Assessments (c))

Collections & liens

Each assessment is a continuing lien upon the unit, subordinate to municipal taxes and any first mortgage lien; also personal obligation of owner (Page 14, Common Expense Assessments (e))

Pets

Only upon written consent of Board of Directors (Page 21, Restrictions (j))

Leasing & rentals

Tenants may be associate members but have no vote (By-Laws Article II, Associate Membership)

Architectural approval

Written approval of Board of Directors required for exterior alterations, changes to bearing walls, additions, alterations, improvements affecting common elements (Page 20-22, Restrictions (d), (e), (n), )

Maintenance

Unit Owner responsible for maintenance, repairs, replacements of own Unit; Association responsible for common elements maintenance, repair, replacement (Page 14, Common Expense Assessments (f))

Insurance

Multi-peril insurance (all-risk: fire, lightning, extended coverage, vandalism, etc.), public liability ($500k/$1M), property damage ($500k), flood insurance, workmen's compensation, contents insurance (90% replacement), fidelity insurance, (Pages 27-31, INSURANCE (b))

Use restrictions

Units are restricted to residential use (Page 24, Restrictions (z))

Voting & meetings

Each Unit has one (1) vote; total 99 votes initially held by Grantor (Page 13, Estate Acquired (b); By-Laws Ar)

Amendments

Before first Unit conveyance: Grantor may freely amend. After: by vote of at least 75% of all votes eligible to be cast; Grantor cannot vote for unsold units for purpose of changing use or reducing common elements. Amendment recorded in Atl (Pages 32-33, AMENDMENT OF MASTER DEED)

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