3 Neil Road Condominium

Key facts from 3 Neil Road Condominium's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

condominium (Name: "3 NEIL ROAD CONDOMINIUM")

Legal name

3 Neil Road Condominium

Developer / declarant

Neil Villas LLC ("DECLARENT: Neil Villas LLC" on page 1 a)

Governing law

Article 9-B of the Real Property Law of the State of New York (Article 1 of Declaration: "submits the p)

Assessments & dues

Board of Managers fixes annual budget and determines the amount required; assessments payable monthly in advance (By-laws Article VI Section 2)

Special assessments

Board may vote a special assessment; threshold for Unit Owner approval if addition/alteration costs exceed $5,000 (or $2,500 during Sponsor control) (By-laws Article III Section 4.2 and 4.12)

Collections & liens

Unpaid common charges constitute a lien on the Unit prior to all other liens except taxes and first mortgages; foreclosure allowed (Declaration Article 12; By-laws Article )

Reserves & fees

Interest at the highest lawful rate in New York State (By-laws Article IX)

Pets

Yes, but must not cause nuisance or disturbance (By-laws Article VIII Section 3: "their p)

Leasing & rentals

Yes, subject to Board's right of first refusal to purchase the Unit (By-laws Article XI Section 1)

Parking & vehicles

Commercial license plate vehicles may not be parked in the Community for more than 24 hours (By-laws Article VIII Section 7(e))

Architectural approval

Written consent of Board of Managers required for any exterior alterations, structures on common elements, or interior alterations impairing structural soundness (Declaration Article 17(b))

Maintenance

Unit Owner responsible for maintenance and repair of own Unit and limited common elements; Board responsible for common elements (including roofs, walls, common areas) (By-laws Article III Section 6)

Use restrictions

All Units shall be used for residential purposes only (By-laws Article VIII Section 2)

Voting & meetings

Each Unit appoints one Manager who is entitled to one vote per Unit (By-laws Article II Section 5: "each Unit)

Amendments

Requires vote of 66-2/3% of Unit Owners at a duly called meeting; must be recorded; material adverse amendments require approval of mortgagees holding 51% of unit votes (Declaration Article 10; By-laws Article )

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