181 Maple Avenue Condominium

Key facts from 181 Maple Avenue Condominium's documents

Reflects the 2023 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

181 MAPLE AVENUE CONDOMINIUM

Developer / declarant

179 MAPLE AVE

Governing law

Article 9-B of the Real Property Law of the State of New York ([[PAGE 4]] DECLARATION establishes condo)

Assessments & dues

Board determines amount and collects Common Charges and Special Assessments based on adopted budget ([[PAGE 26]] Section 2.4(v) of By-Laws)

Special assessments

Defined as charges levied by the Condominium Board to Unit Owners pro-rata in accordance with Common Interests, to meet Common Expenses ([[PAGE 19]] Exhibit C paragraph (35))

Collections & liens

Assessment liens are established; the Board may enforce liens for unpaid common charges (implied); priority of assessment liens is a material amendment subject ([[PAGE 11]] Article 19(c)(ii) mentions a)

Reserves & fees

Board may establish reserves but not exceeding ten percent of budgeted operating expenses for the ensuing twelve months unless necessary for health/safety or compliance with law; additionally, during Sponsor control period, no special asses ([[PAGE 29]] Section 2.5(B)(vi); [[PAGE 2)

Voting & meetings

Each Unit Owner entitled to one vote per percentage of interest owned; cumulative voting allowed ([[PAGE 30]] Section 2.7 of By-Laws)

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