13 Polnoya Road Condominium

Key facts from 13 Polnoya Road Condominium's documents

Community type

Condominium (Page 1, 'ESTABLISHING A PLAN OF CONDOMIN)

Legal name

13 POLNOYA ROAD CONDOMINIUM

Developer / declarant

13 POLNOYA ESTATES LLC

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1, 'PURSUANT TO ARTICLE 9-B OF THE )

Assessments & dues

Board prepares budget for each fiscal year, determines Common Charges pro-rata based on Common Interest (By-Laws Section 2.2(iv)-(v) and Section )

Special assessments

Allowed; for first three years, capital improvement special assessments require Declarant consent unless required by law or insurance; after first three years, 75% Unit Owner approval required for capital improvement assessments (By-Laws Section 2.5(A)(ii) and (B)(iii) )

Reserves & fees

Allowed; for first three years, reserves exceeding 5% of estimated Common Expenses require Declarant consent; after, reserves other than a 12-month contingency reserve not exceeding 10% of budgeted operating expenses require 75% approval (By-Laws Section 2.5(A)(ii) and (B)(iv) ()

Architectural approval

Yes, for alterations, additions, or improvements in or to a Unit, Board approval required; deemed approved if not responded within 15 business days (By-Laws Section 5.2 (page 39))

Maintenance

Unit Owner responsible for painting, decorating, maintenance, and replacements in and to Unit including interior walls, ceilings, floors, fixtures, windows, doors, etc.; Board responsible for Common Elements as Common Expense; if work neces (By-Laws Section 5.1 (page 37-38))

Insurance

Board obtains property insurance covering Common Elements and Building; comprehensive general liability insurance covering claims on Property; boiler and machinery insurance; workmen's compensation and disability benefits insurance; other i (By-Laws Section 5.4 (page 40-41))

Use restrictions

Units are residential (Page 4, 'six (6) residential Units')

Voting & meetings

Each Unit Owner entitled to cast one (1) vote for each percentage of interest owned; cumulative voting allowed (By-Laws Section 4.8 (page 36-37))

Amendments

Declaration may be amended by vote of at least 75% in Common Interest of Unit Owners cast at meeting or in writing; certain amendments require mortgagee consent or individual Unit Owner consent; Sponsor reserves right to amend without vote (Declaration Article 19 (pages 9-11))

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