Three Palms Condominium Association, Inc.

Key facts from Three Palms Condominium Association, Inc.'s documents

Reflects the 2006 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1 - Submission to Condominium)

Governing law

Florida Statutes Chapter 718 (Condominium Act) (Section 4 - Definitions, referencing F.S)

Assessments & dues

For 2006: Unit 1 $164.18, Unit 2 $164.18, Unit 3 $236.06. See budget in Exhibit not fully shown. (Section 17.3)

Special assessments

May be levied for reconstruction if insurance and reserves insufficient (Section 11.2.2). Need 75% vote for very substantial damage if insurance insufficient (Section 11.2.3.1.2). (Section 11.2.2, 11.2.3.1.2)

Collections & liens

Association may foreclose liens for assessments like a mortgage, recover money judgment, and during foreclosure may require reasonable rental or appointment of receiver. (Section 19) (Section 19)

Reserves & fees

Converter Reserve Account required by Section 718.618; Developer deposits $19,535.00 total, allocated per unit: Unit 1 $5,996.66, Unit 2 $5,996.66, Unit 3 $7,541.68. (Section 24) (Section 24)

Pets

Yes, as allowed and regulated in the rules and regulations (Exhibit D). (Section 12.5)

Leasing & rentals

Yes, no Association approval required. (Section 13.1)

Parking & vehicles

Association maintains 'sidewalks, decks and walkway or parking areas' (Section 6.1.10). Specific regulations not in Declaration. (Section 6.1.10)

Fences

Association maintains fences surrounding property (Section 6.1.9). No rules for owner fences. (Section 6.1.9)

Architectural approval

Yes, Board approval required for any alterations to common elements (Section 6.6). Also for window coverings and modifications subject to rules (Section 6.3.4, 6.3.5). (Section 6.6, 6.3.4, 6.3.5)

Maintenance

Association (Section 6.1.8) (Section 6.1.8)

Insurance

Association pays all policy deductible amounts on Association policies. (Section 10.5.3 last sentence) (Section 10.5.3)

Use restrictions

Yes. Use and occupancy restricted to one residence per unit (owner or tenant) and its guests. (Section 12.3)

Voting & meetings

One voting interest per unit. Each unit owner casts one vote per unit owned. Majority of votes present at a quorum meeting governs unless larger percentage required. (Section 22 - Voting)

Amendments

Regular amendments: 75% vote of voting interests (Section 15.3). Correctory amendment: Board alone (15.2). Merger: 100% plus approval of all lienholders (15.4). Developer amendments until turnover (15.5). Mortgagee approval required for mat (Section 15)

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