35 Lenore Ave Condominium

Key facts from 35 Lenore Ave Condominium's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration header, page 1)

Legal name

35 LENORE AVE CONDOMINIUM

Developer / declarant

JUDA ROSENFELD

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Declaration header, page 1)

Assessments & dues

Common Charges and Special Assessments determined by Condominium Board; amount based on budget and allocated pro rata according to Common Interests (By-laws Article 6 (Section 6.1, page 21))

Special assessments

Board may levy Special Assessments for capital improvements, repairs, or deficiencies; borrowing over $5,000 requires unanimous Board and all Unit Owners consent; Board cannot impose special assessment for capital improvements unless requir (By-laws Sections 2.4(v), 2.5(iii), 2.4(v)

Collections & liens

Board may perfect a lien against a Unit Owner's Unit for unpaid common charges; failure to pay may preclude voting (Section 4.8(B)) (By-laws Section 4.8(B), page 32)

Reserves & fees

Reserve limitations: cannot establish reserves other than a twelve-month reserve for contingencies not exceeding 5% of budgeted operating expenses for the ensuing twelve months (By-laws Section 2.5(iv), page 25)

Leasing & rentals

Units may be occupied by Owner or permitted lessees; leasing is implicitly allowed (Section 9) (Declaration Section 9, page 6: 'occupied)

Architectural approval

Prior written consent of Condominium Board required for alterations, additions, improvements, changes in layout, and subdivision of units (Declaration Section 10(a), page 6; By-la)

Maintenance

Unit Owners responsible for interior of unit and limited common elements (e.g., balconies); Condominium Board responsible for common elements (exterior, structural, etc.) (Declaration Section 8(c), page 6; By-law)

Insurance

May include deductible amounts as determined by Condominium Board; amount not specified (By-laws Section 5.4(C), page 38: 'Any in)

Use restrictions

Each Unit may be used in accordance with the use permitted by regulations and the Certificate of Occupancy; occupancy limited to one family per unit (plus accessory apartment if allowed) (Declaration Section 9, page 6)

Voting & meetings

Each Unit Owner entitled to cast one vote for each percentage of interest owned; cumulative voting allowed; Board members elected by majority of votes cast at meeting with quorum; Sponsor retains vote as long as owns Unsold Units (By-laws Section 4.8(A) and 4.9, page 32-)

Amendments

Declaration requires vote of at least 66 2/3% of all unit owners in number and common interest at meeting; certain amendments affecting mortgagee rights require mortgagee consent or 60-day implied approval; Board may amend for filing floor (Declaration Section 19, pages 9-10)

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