Coventry Park at Morris Plains-A Condominium

Key facts from Coventry Park at Morris Plains-A Condominium's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (WHEREAS clause: "establish the condomini)

Legal name

Coventry Park At Morris Plains - A Condominium

Governing law

N.J.S.A. 46:8B-1 et seq. (WHEREAS: "pursuant to the provisions of )

Assessments & dues

Board of Directors fixes Annual Common Expense Assessments (Section 6.03); amount at least sufficient to maintain exterior and operate Common Elements (Section 6.03); budget prepared at least 30 days before first due date (Section 6.04) (Sections 6.03, 6.04)

Special assessments

Yes: Special Common Expense Assessment (Section 6.10) and Capital Improvement Assessment (Section 6.11); each requires 2/3 vote of Members in Good Standing if >10% of annual budget; also Emergency Common Expense Assessment (Section 6.09) (Sections 6.09, 6.10, 6.11)

Collections & liens

Unpaid assessments constitute a continuing lien on the Unit and may be foreclosed like a mortgage (Section 6.02) (Section 6.02: "shall be a continuing lie)

Reserves & fees

Repair and replacement fund exists (Section 6.06); reserves for completed improvements (Section 6.06) (Section 6.06: "repair and replacement fu)

Leasing & rentals

referenced but not detailed (Section 10.03) (Article 10 includes "Restrictions on Lea)

Architectural approval

referenced but not detailed (Section 10.02) (Article 10 includes "Restrictions on Alt)

Use restrictions

Yes (Definition of "Unit": "a residential dwe)

Voting & meetings

Each Member in Good Standing one unweighted vote per Unit; Developer votes for Units owned but limited for certain matters (Section 5.03) (Section 5.03)

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