3016 Brighton 5 Homeowners Association Inc

Key facts from 3016 Brighton 5 Homeowners Association Inc's documents

Reflects the 2019 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Declaration Article 1: submission to Con)

Legal name

3016 Brighton 5 Homeowners Association Inc

Units / lots

27 (16 residential, 11 parking) (Declaration Article 4)

Developer / declarant

Royal Builders Development LLC (Declaration opening paragraph)

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration Article 1)

Assessments & dues

Board of Managers prepares budget at least annually, determines Common Charges according to Common Interests (By-Laws Article VI Section 1)

Special assessments

Board may impose additional Common Charge for unanticipated expenses (By-Laws Article VI Section 1 (last parag)

Reserves & fees

Reserve fund for capital expenditures equal to 10% of projected annual budget (By-Laws Article II Section 2(r))

Maintenance

Board of Managers responsible for maintenance and operation of Common Elements; Unit Owners responsible for maintenance of their Units (by implication) (By-Laws Article II Section 2(a) and Arti)

Insurance

Fire insurance with extended coverage, vandalism and malicious mischief endorsements on the Building (By-Laws Article VI Section 2)

Use restrictions

Each Residential Unit may be used as a residence only (Declaration Article 7)

Voting & meetings

Each Unit Owner casts one vote per 1% of Common Interest for general matters; for Board elections, one vote per 0.01% of Common Interest per member to be elected, no cumulative voting (By-Laws Article III Section 8)

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