CAI-NJ February 2021

HML-4337 CAI Dec 2013_1/2 pg vertical 11/22/13 10:48 AM Page 1

CONSTRUCTION... from page 29.

Keep your Association sharp – in all seasons.

association and the contractor. When a project is underway, the attorney may be needed to help to deal with uncooperative residents or claims of damage caused by the association. In the construction phase, if the project does not go smoothly, it may be necessary to involve the attor- ney in dealings with the contractor. As soon as there appears to be problems with cooperation by a contractor, or if it appears that claims may be made by the contractor, the association’s attorney should be notified. Accountant The association’s accountant should be consulted on the financial status of the association during the preparation of the project budget. This may be an iterative process, considering various scopes or work, budgets and commu- nity budget impacts. The accountant can offer advice on how to fund the project. If the asso- ciation is going to take loans to fund the project, the bank will want current The association’s insurance agent or other insurance professional should be part of the project team. A common question in construction projects involv- ing repairing damage is “Will insur- ance cover it?” Another consideration of many projects is potential impacts on insurance premiums if maintenance or repair projects are not performed. Getting input from the insurance agent early in the process can help resolve these questions quickly. financial statements. Insurance Agent

Value–Experience–Quality Being prepared and responsive is what distinguishes our firm. We strive to solve the problem–resolve the issue and make life easier for our Associations and their property managers. Hueston McNulty, P.C. Association General Counsel and Experienced Trial Attorneys Samuel J. McNulty, Esq. smcnulty@huestonmcnulty.com /www.huestonmcnulty.com

Tel: 973-377-0200 / Fax: 973-377-6328 Offices: Florham Park, NJ; Toms River, NJ; Blue Bell, PA; and New York, NY

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