Grand Avenue Homeowners Association, Inc.

Key facts from Grand Avenue Homeowners Association, Inc.'s documents

Community type

Homeowners Association

Legal name

Grand Avenue Homeowners Association, Inc.

Units / lots

15 (5 three-family homes) (Declaration Article V Section 1 ("Develo)

Governing law

New York Not-for-Profit Corporation Law (By-Laws Article VIII Section 5 and Artic)

Assessments & dues

Not fixed; determined annually by Board of Directors based on budget. (Declaration Article VI Section 3(b); By-)

Special assessments

Allowed by Board of Directors for additional necessary expenses. (By-Laws Article VIII Section 5(a)(1))

Collections & liens

Unpaid assessments become a continuing lien on the Home, prior to all except tax liens and first mortgages. Association may foreclose the lien. Personal obligation of owner at time assessment fell due (does not pass to successors unless ass (Declaration Article VI Section 1 and Sec)

Reserves & fees

Initial $350 per home collected and held in escrow account in name of HOA. Additional reserves may be assessed by Board if fund falls below adequate amount. (Declaration Article VI Section 3(a))

Leasing & rentals

Yes, free of restrictions except that unpaid assessments must be paid or paid out of proceeds. (By-Laws Article XIII Section 1)

Fences

Fences require approval under architectural control; no specific height or material given. (By-Laws Article XIV Section 3)

Architectural approval

Yes, for any building, fence, wall, structure, or exterior addition/alteration, plans must be submitted to Board or architectural committee for approval as to harmony of external design and location. (By-Laws Article XIV Section 3)

Maintenance

Not explicitly assigned; likely owner responsibility as part of Home maintenance.

Insurance

Board may maintain public liability insurance covering Association, Members, lessees, occupants for negligent acts on or in areas including Amenities. Each Member must obtain liability insurance for drainage system with $300,000 minimum and (Declaration Article VII)

Use restrictions

Yes. The properties are for residential use only. (Declaration Article I(i) ("Lot intended )

Voting & meetings

Each owner of a Home has one vote. Class A (all owners except Developer) and Class B (Developer). Class B gets one vote regardless of number of Homes owned. Cumulative voting for Directors. (Declaration Article III; By-Laws Article)

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