1.00 - General
The following words and terms, when used in this Master Deed, the Certificate of Incorporation, or the By-Laws, shall have the following meanings unless the context in which same is utilized clearly indicates otherwise. All definitions set forth in N.J.S.A. 46:88-3 are incorporated herein by reference and the definitions set forth herein shall be used in conjunction therewith unless the context clearly indicates otherwise:
1.01 - "Affordable Housing Unit" or "Affordable Condominium Unit"
shall refer to those Units rented or sold pursuant to a certain "Affordable Housing Plan for The Cedars, A Condominium" attached hereto as Exhibit G, and as more particularly described in Article XV of this Master Deed.
1.02 - "Association"
shall mean The Cedars Condominium Association, Inc., a New Jersey non-profit corporation, formed to administer, manage and operate the common affairs of the Unit Owners of the Condominium and to maintain, repair and replace the General and Limited Elements of the Condominium as provided in this Master Deed and the By-Laws.
1.03 - "Board"
shall mean the Board of Directors of the Association and any reference herein or in the Certificate of Incorporation, By-Laws or Rules and Regulations to any power, duty, right of approval or any other right of the Association shall be deemed to refer to the Board and not the Membership of the Association, unless the context expressly indicates to the contrary. In any reference herein to any power or duty, right of approval or any other right which may be delegated, "Board" shall mean the entity to which such power or duty, right of approval or any other right has been delegated.
1.04 - "Building"
shall mean all the enclosed structures containing Units and structural improvements appurtenant thereto which are located on the lands described in Exhibit A and shown on Exhibits B and C, respectively.
1.05 - "By-Laws"
shall mean the By-Laws of the Association, a copy of which document is attached hereto and made a part hereof as Exhibit E, together with all future amendments or supplements thereto.
1.06 - "Certificate of Incorporation"
shall mean the Certificate of Incorporation of the Association, a copy of which is attached hereto and made a part hereof as Exhibit D, together with all future amendments or supplements thereto.
1.07 - "Common Elements"
shall mean "General Common Elements", "Limited Common Elements" and "Reserved Common Elements", all of which are defined hereafter.
1.08 - "Common Expenses"
shall, subject to the provisions of Article VI hereof, mean all those expenses anticipated by N.J.S.A. 46:88-3(e), in addition to all expenses including reserves incurred or assessed by the Association, or its respective directors, officers, agents or employees, in the lawful performance of their respective duties or powers.
1.09 - "Condominium"
shall mean (i) all the lands and premises described in Exhibit A; and (ii) all improvements now or hereinafter constructed in, upon, over or through such lands and premises.
1.10 - "Condominium Act"
shall mean the provisions of N.J.S.A. 46: 8B-1 et seq., and all applicable amendments and supplements thereto.
1.11 - "Developer"
shall mean and refer to Cedars Development Corporation of New Jersey, a New Jersey corporation, its successors and assigns, and includes any successor to the Developer contemplated by Article XIV of this Master Deed.
1.12 - "Eligible Mortgage Holder"
shall mean and refer to any holder of a first mortgage who has requested notice of any matters encumbering any Unit described in Section 13.05 of this Master Deed.
1.13 - "General Common Elements"
shall have the same meaning as "Common Elements" pursuant to N.J.S.A. 46:8B-3(d), except as same may be modified by the provisions of Article IV of this Master Deed.
1.14 - "Institutional Lender"
shall mean any bank, mortgage banker, savings and loan association or other financial institution or pension fund, which is the record owner of a first mortgage loan which encumbers any Unit.
1.15 - "Lease"
shall mean any agreement for the leasing or rental of any Unit of the Condominium.
1.16 - "Limited Common Elements"
shall have the same meaning as "limited common elements" pursuant to N.J.S.A. 46:8B-3(j), except as same may be modified by the provisions of Section 4.02 of this Master Deed.
1.17 - "Master Deed"
shall mean the Master Deed for The Cedars, A Condominium, together with all future amendments and supplements thereto which are recorded in the Office of the Clerk of Somerset County.
1.18 - "Member"
shall mean all those Unit Owners who are members of the Association as provided in Article V of the Certificate of Incorporation.
1.19 - "Owner" or "Unit Owner"
shall mean and refer to those persons or entities in whom record fee simple title to any Unit is vested as shown in the records of the Somerset County Clerk, including the Developer unless the context expressly indicates otherwise, but notwithstanding any applicable theory of mortgage, shall not mean or refer to any mortgagee or trustee under a deed of trust unless and until such mortgagee or trustee has acquired title to any such Unit pursuant to foreclosure proceedings or any proceeding in lieu of foreclosure, nor shall the term "Unit Owner" refer to any lessee or tenant of a "Unit Owner".
1.20 - "Permitted Mortgage"
shall mean and refer to any first mortgage lien encumbering a Unit held by a bank, mortgage banker, trust company, insurance company, savings and loan association, pension fund, governmental agency or other Institutional Lender, or any Eligible Mortgage Holder, or which is a purchase money mortgage held by the Seller of a Unit, or any mortgage lien which is expressly subordinate to any existing or future common liens imposed against a Unit by the Association.
1.21 - "Property"
shall mean the Buildings, the land and premises described in Exhibit A and shown on Exhibit 3 and all improvements now or hereafter constructed in, upon, over or through such land and premises.
1.22 - "Rules and Regulations"
shall mean those rules and regulations of the Association that may be promulgated by same, together with all future amendments or supplements thereto.
1.23 - "Unit"
shall mean a part of the Condominium designated and intended for independent ownership and use as a residential dwelling regardless of type as more specifically described in Article III hereof and shall not be deemed to include any part of the General Common Elements or Limited Common Elements situated within or appurtenant to a Unit.
