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)

Pets

No; animals of any kind shall not be brought into or kept in or about a Unit (Article 10.j: 'Bicycles, vehicles or ani)

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)

Parking & vehicles

No tractor, mobile home, recreation vehicle, boat, or boat trailer shall be parked or stored on the Common Elements (Article 10.z)

Fences

No fence, wall, or structure of any kind shall be erected without prior written approval of Board (Article 22.a: 'nor shall any fence, wall)

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)

Signs & flags

No signs, advertisements, notices shall be inscribed, painted, affixed, or displayed inside or outside without written consent of Association; Grantor may put up signs for sale or rental of Units without consent (Article 10.c)

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.