10 Joan Lane Condominium

Key facts from 10 Joan Lane Condominium's documents

Reflects the 2020 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (10 JOAN LANE CONDOMINIUM; Article FOURTH)

Legal name

10 JOAN LANE CONDOMINIUM

Units / lots

2 units (Exhibit B lists Unit 201 and Unit 202 (a)

Developer / declarant

THE HYTYH TRUST, 10 JOAN LANE, MONSEY, NY 10952 (THIS DECLARATION, made this ___ day of D)

Governing law

Article 9-B of the Real Property Law of the State of New York (FIRST: Submission of Property "submits t)

Assessments & dues

Board determines and levies monthly common charges/assessments in advance based on annual budget; total annual requirements assessed as single sum prorated per common interest; payable monthly in advance as ordered by Board (By-laws Article VI Section 2; Article II)

Special assessments

Board may vote special assessment in excess of regular amount, pro-rata by common interest; levied and paid same manner as regular assessments (Article III Section 4 item 1; Article VI)

Collections & liens

Unpaid common charges constitute lien on Unit prior to all except tax liens and first mortgage liens; foreclosure like a mortgage; Board may purchase Unit at foreclosure sale; default notice after 60 days, foreclosure after 90 days from not (TWELFTH: Common Charges; Article VI Sect)

Reserves & fees

Annual budget includes reserves; operating portion of assessments deposited to Operating Account; Board may maintain other accounts (Article VI Section 2 "operational items )

Leasing & rentals

Sale or lease of Unit governed by Article XI; any sale or lease in violation voidable at election of Board of Managers; mortgagee acquiring by foreclosure/deed in lieu exempt (Article XI Section 1; Article XI Section)

Parking & vehicles

Commercial license plate vehicles may not be parked in the Community for a period in excess of 24 hours (Article VIII Section 2(e))

Architectural approval

Alterations to inside of Unit impairing structural soundness require written consent of Board; no fence, gate, or alteration of existing wall/fencing without prior written consent of Board (Article VIII Section 6; Article VIII Sec)

Maintenance

Roofs are common elements maintained by Board (FIFTH: Common Elements "outside walls an)

Insurance

Fire insurance with extended coverage, water damage, vandalism and malicious mischief; insures Building, Units, improvements, bathroom/kitchen/laundry fixtures, cabinets, equipment, heating/hot water/service machinery at full replacement va (Article VII Section 1)

Use restrictions

Occupancy restricted to Residential Occupancy per municipal zoning; all Units used for residential purposes only (Declaration Article SIXTEENTH(i); By-law)

Voting & meetings

Each Unit Owner has one vote per Unit owned; Board of Managers shall not cast its votes for election of Board members; common interest percentages set forth in Exhibit B (EIGHTH: Common Interest; By-laws Article)

Amendments

Withdrawal from condominium requires 80% of Unit Owners in common interest plus mortgagees representing 51% of unit votes subject to first-lien mortgages; material adverse amendment requires mortgagee 51% approval; By-law amendments require (TENTH: Amendments and Withdrawal; Articl)

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