18 Sunrise Drive Condominium

Key facts from 18 Sunrise Drive Condominium's documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium

Legal name

18 Sunrise Drive Condominium

Developer / declarant

18 SUNRISE DRIVE LLC

Governing law

Article 9-B of the New York Real Property Law (Condominium Act) (Section 2 Submission of the Property; De)

Assessments & dues

Condominium Board determines Common Charges and Special Assessments to meet Common Expenses (Section 2.4(v)). Budget approval required for certain actions (Section 2.5). (By-laws Section 2.4(v) and 2.5)

Special assessments

Board may levy Special Assessments as defined in Exhibit C (33) and in accordance with By-laws Section 6.1(C). (Exhibit C definition (33); By-laws Secti)

Collections & liens

Board may perfect a lien against a unit for unpaid Common Charges. No vote at meetings if lien perfected and not released (Section 4.8(B)). (By-laws Section 4.8(B))

Reserves & fees

Board may establish reserves, but cannot exceed 5% of budgeted operating expenses for next twelve months without 75% unit owner approval (Section 2.5(B)(iv)). (By-laws Section 2.5(B)(iv))

Leasing & rentals

Yes, units may be leased to 'permitted lessees' (Section 9). (Declaration Section 9)

Use restrictions

Each unit may be used in accordance with zoning and certificate of occupancy; not more than one family at a time. Occupancy by owner or permitted lessees and immediate family. (Declaration Section 9)

Voting & meetings

One vote per unit (One unit, one vote). Sponsor (Declarant) has additional voting power as long as owns units: votes for Board members. For owner decisions, each unit has one vote. (By-laws Section 4.8(A): 'Each owner of a)

Amendments

Declaration may be amended by vote of at least 80% of unit owners in number and common interest, with mortgagee consent if affecting liens or common interest percentages (Section 19). Sponsor reserved right to amend without vote solely to f (Declaration Section 19 (pages 9-10); By-)

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