Seven Ridgedale Avenue Condominium

Key facts from Seven Ridgedale Avenue Condominium's documents

Reflects the 2008 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (WHEREAS: 'to convert the aforesaid land )

Legal name

7 Ridgedale Avenue Condominium

Units / lots

2 commercial condominium units (WHEREAS: 'to offer two (2) commercial co)

Developer / declarant

Sutman Associates, IyP.

Governing law

New Jersey Condominium Act, N.J.S.A. 46:8B-1 to 30 (Article 1: 'in accordance with N.J.S.A. )

Assessments & dues

Common Expenses include administration, maintenance, repair, replacement of Common Elements; Association adopts budget and levies monthly assessments; may also levy special assessments; all expenses fixed by Trustees (Article 18: 'Common Expenses shall be pa)

Special assessments

Association may levy special assessment including reserve fund assessment against each Unit Owner according to percentage share (Article 18: 'the Association shall have )

Collections & liens

All charges and expenses chargeable to a Unit constitute a lien in favor of the Association, prior to all other liens except tax liens, prior recorded mortgage liens, and certain earlier liens; lien may be foreclosed via suit similar to mor (Article 19)

Reserves & fees

Association may levy a reserve fund assessment; budget includes contingency line item for unexpected repairs (Article 18: 'power...to levy a special a)

Leasing & rentals

Yes, subject to restrictions: leases must be in writing, subject to Master Deed and By-Laws, and tenant must be a 'Qualified Tenant' consistent with professional office building as determined by Association (Article 16.A)

Architectural approval

For exterior or structural changes: plans and specifications must be submitted to and approved in writing by Board of Trustees of the Association (Article 22.a: 'until the plans and speci)

Home business

Permitted; consistent with professional office building; must comply with municipal ordinances; tenants must be 'Qualified Tenant' as determined by Association (Article 16.A: 'uses permitted in accorda)

Maintenance

Roof is part of Unit (for insurance purposes: Unit includes roofs which are a portion of the Unit - Article 17). HVAC equipment on roof is deemed a Limited Common Element; Unit Owner responsible for its repair, maintenance, operation, repla (Article 17 ('including roofs which are a)

Use restrictions

Prohibited; no residential use (Article 10.hh: 'No Unit shall be used fo)

Voting & meetings

Each Unit Owner entitled to one vote per Unit, weighted by percentage interest in Common Elements; affirmative vote of a Majority (51% of percentage interest) constitutes decision of Unit Owners (Article 6.C)

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