Flightway International Park Condominium Association, Inc.

Key facts from Flightway International Park Condominium Association, Inc.'s documents

Community type

Nonresidential Condominium (Section 2)

Governing law

Chapter 718 of the Florida Statutes (Condominium Act) (Section 1)

Assessments & dues

Board of Directors establishes annual budget projecting all expenses; may levy additional assessments if insufficient (Section 16.A)

Special assessments

Board may levy additional assessments as deemed necessary (Section 16.A)

Collections & liens

Association has lien on unit for unpaid assessments, interest, costs, and attorney's fees; may foreclose like real estate mortgages; lien effective from recording of declaration, but against first mortgagees only after recording claim of li (Section 16.F and 16.G)

Reserves & fees

10% of assessments (or as determined by Board) for each month delinquent (Section 16)

Insurance

Public liability insurance for unit, personal liability, property insurance for improvements and personal property, and business interruption insurance; policies must contain waivers of subrogation (Section 17.A.1)

Voting & meetings

One vote per unit; owner(s) of a single unit collectively entitled to one vote; Developer deemed owner for each unsold unit (Section 11)

Amendments

Not fully detailed in provided text; By-laws may be amended as provided therein, but no amendment materially affecting rights of Institutional Mortgagees without written approval of all such mortgagees (Section 11.H)

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