[Amended by Ord. No. 9-87]
A homeowners' association may be established by the applicant
and shall be established by the applicant when required by the Planning
Board of the Township. Creation of a homeowners' association may be
mandated where the proposed development has common open space area
or common property either for open space or for drainage/retention
ponds. A homeowners' association shall be established before any homes
are sold for the purpose of owning and assuming the maintenance responsibilities
for the common open space and common property including drainage and
retention ponds designated within a development; provided the reviewing
board is satisfied that the organization will have a sufficient number
of members to reasonably expect a perpetuation of the organization
in a manner enabling to meet its obligations and responsibilities
in owning and maintaining any property for the benefit of owners or
residents of the development. If established, the organization shall
incorporate the provisions set forth in this chapter.
Membership by all property owners, condominium owners stockholders
under cooperative development and other owners of property or interests
in the project shall be mandatory. Required membership and the responsibilities
upon the members shall be in writing between the organization and
each member in the form of a covenant with each agreeing to liability
for his pro rata share of the organization's costs.
The organization shall be responsible for liability insurance,
taxes, maintenance of recreational and other facilities, and any other
obligations assumed by the organization, and shall hold the municipality
harmless from any liability. The organization shall not be dissolved
and shall not dispose of any open space or property by sale or otherwise,
except to an organization conceived and established to own and maintain
the open space or property for the benefit of such development, and
thereafter such organization shall not be dissolved or disposed of
any of its open space or property without first offering to dedicate
the same to the municipality or municipalities wherein the land is
located.
The assessment levied by the organization upon each member may
become a lien on each member's property. The organization shall be
allowed to adjust the assessment to meet changing needs.
The organization shall clearly describe in its bylaws all the
rights and obligations of each tenant and owner, including a copy
of the covenants, model deeds, and Articles of Incorporation of the
organization and the fact that every tenant and property owner shall
have the right to use all common properties. These shall be set forth
as a condition of approval and shall be submitted prior to the granting
of final approval.
The cost of such maintenance by the municipality shall be assessed
pro rata against the properties within the development that have a
right of enjoyment of the common open space and common property in
accordance with assessed value at the time of imposition of the lien,
and shall become a lien and tax on said properties and be added to
and be a part of the taxes to be levied and assessed thereon, and
enforced and collected with interest by the same officers and in the
same manner as other taxes.