Bardmoor Palms Commerical Condominium

Key facts from Bardmoor Palms Commerical Condominium's documents

Reflects the 2015 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

commercial condominium (Section 4)

Legal name

Bardmoor Palms Commercial Condominium Association, Inc. (Section 1.1)

Developer / declarant

BP Land Holdings, LLLP (Opening paragraph)

Governing law

Chapter 718 of the Florida Statutes (Condominium Act) (Section 1.10)

Assessments & dues

Board of Directors prepares and adopts an annual budget, determines amount payable by Unit Owners, and allocates Common Expenses per Exhibit C (General Assessment). Limited Common Element Assessments may also be levied. (Sections 10.1, 10.2)

Special assessments

Special Assessments may be levied by unanimous vote of the Board for nonrecurring costs not in the nature of capital improvements. Capital Improvement Assessments for capital improvements. If aggregate exceeds $5,000 or total assessments ex (Sections 10.3(a)-(d))

Collections & liens

Association has a lien against each Condominium Parcel for unpaid assessments, interest, attorneys' fees. Lien may be foreclosed like a mortgage. Subordinate to recorded mortgages unless claim of lien recorded. Foreclosure acquiror liable f (Section 10.7)

Reserves & fees

Association budget shall include reserves required by law or determined appropriate by the Board (Section 10.1; also Section 1.7(f) includ)

Architectural approval

Changes, improvements, or additions to the exterior of a Unit or appurtenant Limited Common Elements require prior approval of the Board of Directors. Interior changes do not require approval. (Section 9.4)

Insurance

Association shall obtain public liability and property damage insurance covering Common Elements, and fire, extended coverage, vandalism, malicious mischief insurance on Common Elements and Association property. (Sections 12.1 and 12.2(a))

Use restrictions

Prohibited (Exhibit F, item 6)

Voting & meetings

Each Unit Owner has voting interests allocated per Exhibit C; each Unit owned entitles the owner to appoint one Director to the Board (Section 5.1(c) and (d)) (Sections 5.1(c) and 5.1(d))

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