180 Maple Avenue Condominium

Key facts from 180 Maple Avenue Condominium's documents

Reflects the 2005 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 1, title: "DECLARATION OF CONDOMINI)

Legal name

180 MAPLE AVENUE CONDOMINIUM

Developer / declarant

SHAAR EPHRAIM INC.

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 1, "PURSUANT TO ARTICLE 9-B" and Se)

Assessments & dues

Common Charges and Special Assessments are allocated pro rata based on Common Interest percentages (30%, 30%, 40%) (Definitions (6) Common Charges (page 17))

Special assessments

Permitted; requires Unit Owner approval for capital improvements exceeding $5,000 or for establishing reserves exceeding 5% of budget (Section 2.5(B) (page 29) and Section 5.3)

Architectural approval

Yes, for alterations to common elements exceeding $5,000 or structural changes; Board approval required for unit alterations that affect structural integrity (Section 5.2 and 5.3 (page 39-40))

Use restrictions

Yes; units may only be used as private residence for one family (Section 9 (page 7): "No unit shall be us)

Voting & meetings

Each unit owner gets one vote per unit owned; cumulative voting allowed for Board elections; Sponsor controls majority as long as it owns majority of units (Section 4.8 (page 36), Section 2.7 (page)

Amendments

Amendment requires vote of at least 66 2/3% of all unit owners in number (or in writing same percentage); certain amendments require mortgagee consent; changes to common interest percentages require owner consent; withdrawal requires 80% vo (Sections 19 and 20 (page 11-12))

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