Colorama No. 2 Industrial Park Condominium Association, Inc.

Key facts from Colorama No. 2 Industrial Park Condominium Association, Inc.'s documents

Community type

Condominium (Article I, Section 1(m) and throughout)

Units / lots

15 (8 in Building C, 7 in Building D) (Article II, Section 2)

Governing law

Florida Condominium Act (Article I, Section 1(j) reference to "th)

Assessments & dues

Annual assessment based on proportionate share of square footage of all Buildings to total estimated operating expenses (Article V, Section 2)

Special assessments

May be levied by Board majority for repair/replacement due to owner misuse or costs under Article IV; also for capital improvements over $10,000 or 10% of budget with membership approval (Article V, Section 3 and Section 4)

Collections & liens

Delinquent assessments become a continuing lien on the Unit; Association may record claim of lien and foreclose (Article V, Section 7)

Reserves & fees

Association shall hold reserve funds and may invest in interest-bearing accounts (Article V, Section 1 and Section 10)

Parking & vehicles

Prohibited from overnight parking (Article VII, Section 9)

Architectural approval

Architectural Control Board approval required for any building, wall, fence, structure, sign, landscaping, or alteration of exterior appearance; also for structural interior alterations (Association approval) (Article VII, Section 8; Article VI, Sect)

Maintenance

Association maintains roof as part of Common Areas (Article IV, Section 3)

Voting & meetings

Each Member entitled to one vote per 100 square feet of interior space plus one additional vote for each incremental 100 square feet or greater; Developer entitled to cast a majority of Board as long as Developer owns or controls at least o (Article III, Section 2)

Amendments

Developer may amend Declaration unilaterally for withdrawal of properties, unit modifications, and other changes as long as Developer owns units; no vote of Association required (Article II, Section 5 and Section 6)

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