33 Herrick Avenue Condominium

Key facts from 33 Herrick Avenue Condominium's documents

Reflects the 2014 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Cover sheet)

Legal name

33 HERRICK AVENUE CONDOMINIUM

Developer / declarant

Trodale Properties, LLC (Page 3, Declaration preamble)

Governing law

Article 9-B of the Real Property Law of the State of New York (Page 3, Declaration preamble)

Assessments & dues

Board determines Common Charges and Special Assessments pro rata according to Common Interests based on budget. (By-Laws Section 2.4(v) and Article 6)

Special assessments

Charges allocated and assessed by Board pro rata in accordance with Common Interests. (Exhibit C Definition (32))

Collections & liens

Board may perfect a lien against a unit for unpaid common charges; foreclosure possible. (By-Laws Section 4.8(B) and Article 6)

Reserves & fees

Board may establish reserves; while Sponsor control, limit 5% of estimated Common Expenses; after Sponsor control, 75% unit owner approval required for reserves exceeding 10% of budgeted operating expenses. (By-Laws Section 2.5(A)(ii) and 2.5(B)(iv)

Voting & meetings

Each unit owner has one vote per unit. Sponsor may elect majority of board while owning majority of units. After Sponsor Control, each unit owner elects one board member. (By-Laws Sections 4.8 and 4.9)

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