16 Calvert Drive Condominium

Key facts from 16 Calvert Drive Condominium's documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Declaration of Condominium, page 1; Arti)

Legal name

16 CALVERT DRIVE CONDOMINIUM

Units / lots

6 (based on Exhibit B: Units 101, 102, 103, 201, 202, 203) (Exhibit B, pages 14-15)

Developer / declarant

ACCURATE DEVELOPERS

Governing law

Article 9-B of the Real Property Law of the State of New York (Declaration page 1, Article 10 (Definiti)

Assessments & dues

Common Charges and Special Assessments determined by Condominium Board in budget, allocated pro-rata based on Common Interests (By-laws Section 2.4(iv)(v), Declaration )

Special assessments

Allowed; charges allocated by Board pro-rata per Common Interests; subject to limitations during Sponsor control (By-laws Section 6.1(C) (referenced in de)

Collections & liens

Board may perfect a lien for unpaid Common Charges; if lien perfected, Unit Owner cannot vote; self-help and other remedies available (By-laws Section 4.8(B), Article 9 (Certa)

Reserves & fees

During Sponsor control, no reserves may be established except a 12-month reserve for contingencies not exceeding 10% of budgeted operating expenses (By-laws Section 2.5(B)(ii))

Leasing & rentals

Yes, but subject to Right of First Refusal (Article 7 of By-laws) (By-laws Table of Contents: Article 7 'SA)

Architectural approval

Prior written consent of Board required for alterations to any part allocated to a Unit; Board must respond within 15 business days, failure to respond deemed approval; exterior changes require approval if design differs from original (Declaration Section 10 and By-laws Secti)

Use restrictions

Each Unit may be used in accordance with local law and certificate of occupancy; not more than one family may occupy a Unit (Declaration Section 9)

Voting & meetings

Each Unit Owner casts one vote for each percentage of common interest owned; cumulative voting allowed for Board elections (By-laws Section 4.8(A) and 4.9(A))

Amendments

By vote of at least 66 2/3% of Unit Owners in number and common interest; material amendments require consent of mortgagees holding at least 51% of votes of mortgaged units; Sponsor may amend without vote for certain purposes (e.g., dividin (Declaration Section 19)

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