49 Decatur Avenue Condominium

Key facts from 49 Decatur Avenue Condominium's documents

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

Community type

Condominium

Legal name

49 Decatur Avenue Condominium

Developer / declarant

David Deutscher

Governing law

Article 9-B of the Real Property Law of the State of New York (FIRST: Submission of Property)

Assessments & dues

Board of Managers fixes budget at least annually, determines total amount needed, and assesses pro rata among Units according to common interest percentages. (By-laws Article VI Section 2; Article II)

Special assessments

Special assessments are permitted, levied and paid in the same manner as regular assessments. (By-laws Article VI Section 2)

Collections & liens

Common charges constitute a lien on the Unit, prior to all other liens except taxes and first mortgages. Foreclosure in like manner as a mortgage. Board may purchase at foreclosure sale. (TENTH (Declaration); By-laws Article VI )

Reserves & fees

The Board shall impose a monthly fee of fifteen dollars ($15) on delinquent Unit Owners to cover additional burden of late payment. (By-laws Article VI Section 2)

Pets

Pets are permitted (referenced in house rules without specific limits). (By-laws Article VIII Section 3)

Leasing & rentals

Leasing is allowed, but the Board of Managers has a right of first refusal. Unpaid common charges must be paid before conveyance or lease. (By-laws Article XI Section 1)

Architectural approval

Written consent of the Board of Managers is required for alterations that impair structural soundness, and for any structure on common elements or restricted common elements. (SEVENTEENTH (b); By-laws Article VIII Se)

Maintenance

Board maintains common elements (exterior walls, roof, public utility lines in common elements, snow plowing for roadways). Unit Owner maintains unit interior (including windows, doors, heating/AC system, pipes inside unit), painting and de (By-laws Article III Section 5)

Insurance

Fire insurance with extended coverage, water damage, malicious mischief endorsements insuring the Building, fixtures, and improvements. Initially at least $600,000. Also public liability insurance. (By-laws Article VII Section 1)

Use restrictions

Occupancy restricted to Residential Occupancy in accordance with applicable zoning regulations. (SEVENTEENTH (i))

Voting & meetings

Each Unit Owner has one vote per percentage of common interest (Exhibit B). Each Unit appoints a Manager who votes at Unit Owner meetings. (EIGHTH: Common Interest; By-laws Article)

Amendments

Declaration amendments require 66-2/3% of Unit Owners in number and common interest, plus approval of mortgagees representing at least 51% of unit votes for material adverse changes. By-laws amendments require same percentage of Unit Owners (TENTH: Amendments and Withdrawal; By-law)

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