Salzedo in the Gables Condominium Association, Inc.

Key facts from Salzedo in the Gables Condominium Association, Inc.'s documents

Reflects the 2003 governing documents — figures and rules are as originally recorded and may have changed since.

Developer / declarant

1014 Salzedo, LLC, a Florida limited liability company (Introduction and Section 2.18)

Governing law

Florida Condominium Act (Chapter 718 of Florida Statutes) (Section 1.2)

Assessments & dues

Board of Directors shall prepare budget at least annually, determine assessments, and allocate among Unit Owners in accordance with Declaration and By-Laws (Section 12)

Special assessments

Permitted; if aggregate in any year exceeds 3% of estimated operating budget, requires approval of majority of Voting Interests represented at a meeting with quorum (Section 13.2)

Collections & liens

Association has a lien on each Condominium Parcel for unpaid Assessments; can foreclose like a mortgage; also can obtain money judgment (Section 13.3)

Reserves & fees

May be established for future costs such as sprinkler system; not mandatory (Section 9.2 and Section 12 (Common Expen)

Architectural approval

Yes - for any addition, alteration or improvement visible from other Units, Common Elements, or Common Properties, or affecting structural/mechanical/Life Safety Systems (Section 9.1 and 9.2)

Voting & meetings

Each Unit entitled to one vote cast by its Owner (Section 5.2)

Amendments

Except as otherwise provided, requires affirmative vote of in excess of 66 2/3% of voting interests. Material amendments (changing Unit size, appurtenances, or percentage interests) also require consent of affected Unit Owners and mortgagee (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.