Players Place

Key facts from Players Place's documents

Reflects the 1988 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Master Deed, Establishment of Condominiu)

Legal name

Players Place Condominium

Units / lots

230 (Master Deed, General Description of Cond)

Developer / declarant

Orleans Corporation of New Jersey

Governing law

N.J.S.A. 46:8B-1 et seq. (New Jersey Condominium Act) (Master Deed, WHEREAS and Establishment)

Assessments & dues

Fixed annually by Association at least sufficient to maintain and operate common elements (Master Deed, Common Expense Assessments )

Special assessments

For capital improvements: requires assent of 75% of all eligible votes (Grantor's votes ineligible). Added assessment for operating expenses: no vote required. (Master Deed, Common Expense Assessments )

Collections & liens

Common expense assessments are a continuing lien on the unit; subordinate to first mortgage recorded prior to claim of lien; personal obligation of owner (Master Deed, Common Expense Assessments )

Reserves & fees

Working Capital Account established; while Grantor in control, cannot use working capital funds for expenses, reserves, or deficits (Amendment to Master Deed (DOC 137622), W)

Pets

Domestic pets limited to small domestic variety; dogs and similar type pets permitted, subject to restrictions (Master Deed, Rules and Regulations (k))

Leasing & rentals

Units may be leased but not for transient or hotel purposes (Master Deed, Leasing of Units section)

Parking & vehicles

No parking area or common element shall be used for parking, storage, or repair of trucks or commercial vehicles (Master Deed, Rules and Regulations (b)(4)

Architectural approval

No alterations to exterior of units, decks, terraces, fences, common elements, or limited common elements without written approval of Board; no structural additions, alterations, or improvements to unit or common elements without prior writ (Master Deed, Rules and Regulations (e) a)

Home business

No unit may be used for conduct of any commercial enterprise (Master Deed, Rules and Regulations (c))

Signs & flags

No unit owner shall display a sign advertising unit for sale for two years from settlement; no advertisements or posters except authorized by Association; Grantor's sales activities excepted (Master Deed, Rules and Regulations (c) a)

Maintenance

Unit owner responsible for maintenance, repairs, and replacements for his own unit and appurtenant window. Association responsible for care of common elements and limited common elements. (Master Deed, Common Expense Assessments )

Insurance

Master policies of casualty insurance covering full replacement value of units and common elements, adjusted annually. Perils: fire, lightning, extended coverage, vandalism, malicious mischief, windstorm, etc. Also public liability insuranc (Master Deed, Insurance section (a) and ()

Use restrictions

Each unit intended to be and shall only be used as a single-family residence (Master Deed, Rules and Regulations (a))

Voting & meetings

Each unit has a percentage interest which determines voting rights; Grantor holds votes for unsold units; Grantor's votes are ineligible for special assessment votes (Master Deed, sections on Common Expense )

Amendments

Material amendment: vote of at least 67% of all unit owners and 51% of eligible mortgage holders for units owned by persons other than Grantor. Non-material amendment: vote of 51% of all unit owners if no mortgage holder objects within 30 d (Master Deed, Amendment of Master Deed se)

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