Blue Lagoon Condo

Key facts from Blue Lagoon Condo's documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1)

Legal name

Blue Lagoon Condominium Association

Units / lots

1 lot (Lot 14, Block 406) (Exhibit B (Legal Description))

Developer / declarant

Seymour S. Weiss

Governing law

N.J.S.A. 46:8B-1 et seq. (New Jersey Condominium Act) (Section 1)

Assessments & dues

Management Committee estimates cost in advance on an annual basis, gives notice before December 1st; if not made, last year's amount presumed (By-Laws Art. II §2 (Notice), §6 (Expendi)

Special assessments

Added assessment for operating expenses or unexpected repairs: no vote required. Special assessment for capital improvements >$10,000 requires unanimous unit owner assent. (Section 8.B, 8.C)

Collections & liens

Association lien recorded as Claim of Lien per N.J. Condominium Act; can foreclose and sell unit; subordinate to first mortgage and municipal taxes (Section 8.D, 8.F)

Reserves & fees

Maintained for emergencies, contingencies, replacement of common elements; kept in interest-bearing securities or insured savings accounts (By-Laws Art. II §8 (Reserves))

Pets

Pets may be kept in accordance with the Rules and Regulations of the Association (Section 11.J)

Leasing & rentals

Not specifically addressed for unit owners; Grantor reserves unrestricted right to lease unsold units (Section 13.C.1)

Parking & vehicles

Limited Common Elements: parking areas adjacent to each unit depicted on Exhibit A (Section 6)

Architectural approval

Prior written approval of Association (or Management Committee) required for: exterior alterations, structural changes affecting bearing walls, additions/improvements affecting common elements, painting exterior, enclosure/extension/deck sc (Section 11.D, 11.E, 11.M, 11.Q; By-Laws )

Use restrictions

Units are restricted to residential use (Section 11.V)

Voting & meetings

One vote per unit (Section 7.C (Master Deed) and Section 30)

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