Lafayette

Key facts from Lafayette's documents

Reflects the 2011 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1: "LAFAYETTE CONDOMINIUM")

Governing law

Article 9-B of the Real Property Law of the State of New York (Section 1.01)

Assessments & dues

Common charges allocated according to percentage Common Interests in Common Elements, may be specifically allocated per Section 339-m of NY RPL (Section 9.01)

Collections & liens

Unpaid Common Charges, including late charges, interest, attorneys fees, are a personal obligation and a lien on the Unit prior to all liens except tax liens and first mortgage held by Institutional Mortgage Holder (Section 9.02)

Reserves & fees

Reserve fund allowed for future common expenses (Section 9.01: "making due allowance for )

Architectural approval

Any structural alteration or addition to a Unit that impairs structural soundness or has adverse material effect on exterior appearance or value requires written approval of Board of Managers (Section 6.02)

Voting & meetings

Votes based on percentage interest in Common Elements per Unit owned; each Unit Owner entitled to vote for each Unit owned (Section 8.01)

Amendments

Requires notice to all Unit Owners and Eligible Mortgage Holders at least 15-30 days prior to meeting; approval of 67% of Units in number and Common Interest; no opposition from Eligible Mortgage Holders of 51% of Units subject to mortgages (Section 14.01)

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