4 Sunrise Drive Condominium

Key facts from 4 Sunrise Drive Condominium's documents

Reflects the 2010 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Page 2: 'CONDOMINIUM DECLARATION' and '4)

Legal name

4 SUNRISE DRIVE CONDOMINIUM

Developer / declarant

MEG SUNRISE TRUST (Page 2 (header) and Page 5: 'MEG SUNRISE)

Governing law

Article 9-B of the Real Property Law of the State of New York (Condominium Act) (Page 2: 'PURSUANT TO ARTICLE 9-B OF THE )

Assessments & dues

Condominium Board prepares annual budget and determines Common Charges and Special Assessments, allocated pro-rata based on Common Interests. (Section 2.4(A)(iv) (Page 27): 'prepare a)

Special assessments

Charges allocated by Condominium Board to Unit Owners pro-rata in accordance with Common Interests for capital improvements, deficits, etc. (Exhibit C (Page 17): 'Special Assessment)

Collections & liens

Common Charges and Special Assessments are a lien on the unit; foreclosure may occur for nonpayment. Notice of unpaid common charges to mortgagee required. (Section 8.3 (Page 23): 'Notice of Unpaid)

Reserves & fees

Reserve fund established for replacements; not to exceed 5% of estimated Common Expenses without Sponsor consent during control period; Unit Owners representing 75% Common Interest must approve establishment of reserves other than a twelve- (Section 2.5(A)(i) (Page 28-29): 'any Com)

Architectural approval

Board approval required for alterations, additions, improvements or changes to Units; conditions include no adverse effect on other units, indemnity, and structural integrity. (Section 5.2 (Page 39-40): 'with respect )

Maintenance

Unit Owners responsible for interior painting, decorating, maintenance, and replacements of Unit (including walls, ceilings, floors, fixtures, windows, doors, plumbing, etc.). Condominium Board responsible for Common Elements. Limited Commo (Section 5.1(A) (Page 38): 'all painting,)

Insurance

May provide for deductible amounts as Condominium Board determines, reviewed annually. (Section 5.4(C) (Page 42): 'Any insurance)

Use restrictions

Each Unit may be used in accordance with the Certificate of Occupancy, and only one family may occupy a Unit. (Section 9 (Page 7): 'Each Unit may be us)

Voting & meetings

Each Unit Owner casts one vote for each percentage of Common Interest owned. Cumulative voting allowed for Board elections. Sponsor votes as long as owns a unit. (Section 4.8(A) and 4.9(A) (Page 37-38): )

Amendments

Declaration may be amended by vote of at least 67% in number and percentage of common interest of all unit owners, in person or by proxy, or by written consent. Certain amendments require mortgagee consent (e.g., adversely affecting lien, c (Section 19 (Page 10-12): 'This Declarati)

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