Terrace II at Lakewood National Condominium Association, Inc.

Key facts from Terrace II at Lakewood National Condominium Association, Inc.'s documents

Reflects the 2017 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Document title and Section 1.2)

Legal name

Terrace II at Lakewood National Condominium Association, Inc. (Section 2 (Definition of 'Association'))

Units / lots

60 (if all phases submitted; 30 per phase) (Section 3, Section 3.2 (1/60 share))

Developer / declarant

Lennar Homes, LLC, a Florida limited liability company (Page 1 of Declaration, also Amendment pa)

Governing law

Florida Condominium Act (Chapter 718, Florida Statutes) (Section 2 (Definition of 'Act'))

Special assessments

Any assessment levied against Unit Owners other than the annual budget assessment. (Section 2 (definition of Special Assessm)

Collections & liens

Association has a lien for unpaid assessments (Section 14.4); lien can be foreclosed; personal liability of Unit Owner (Section 14.2); effect of foreclosure (Section 14.6); voluntary transfer (Section 14.7); no waiver of rights (Section 14. (Section 14)

Reserves & fees

Required (Section 13.5) (Section 13.5 (Reserve Funds) – reference)

Architectural approval

Yes; Unit Owners (other than Developer, if Developer holds at least one unit) must obtain written consent of the Board for any alteration, replacement, decoration, enclosure, or addition in or to Common Elements, Limited Common Elements, or (Section 11.1)

Maintenance

Association maintains roof membrane and trellises forming part of roof (Section 8.4). (Section 8.4 (last paragraph))

Insurance

Association shall carry property insurance, liability insurance, workers' compensation, flood insurance, fidelity insurance, directors and officers insurance, windstorm coverage, and other insurance as deemed appropriate (Section 15.3). (Section 15.3)

Voting & meetings

One vote per Unit; Unit Owner casts vote; each Unit has one Vote Interest. (Section 5.2; Section 2 (Voting Interest )

Amendments

By Association: requires affirmative vote of (a) >50% Voting Interests represented at quorum plus 66-2/3% of Board, or (b) not less than 80% Voting Interests represented at quorum; or (c) prior to turnover, 100% of Board. By Developer alone (Section 7.1.3, 7.2)

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