Summer Key Condm

Key facts from Summer Key Condm's documents

Reflects the 2012 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1 (submission to condominium own)

Legal name

Summer Key Condominium Association, Inc. (Section 4.4)

Units / lots

72 (maximum, planned; initial phase has 24 homes; subsequent phases 25 and 7 combined may have 21-26 homes each, totaling up to 72) (Section 4.13, Section 6.1.3 table)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Section 1)

Assessments & dues

By Board in accordance with Declaration and Act; includes Annual Assessment and Special Assessments (Section 4.3)

Special assessments

May be levied by Board with approval of a majority of Home Owners (Section 4.3.2)

Collections & liens

Not detailed; assessments are covenants running with the land (Section 4.3), but specific lien/foreclosure provisions are not in this excerpt

Reserves & fees

Interest at maximum nonusurious rate allowed by law, or 18% per annum if no rate designated (Section 4.23 (definition of Interest))

Insurance

Association carries property insurance per Section 718.111(11); public liability insurance (minimum $1,000,000 personal injury, $100,000 property damage); fidelity insurance per Act; flood insurance if needed (Sections 13.1, 13.2, 14.1, 14.2)

Voting & meetings

One vote per home; voting by limited proxy; husband and wife rules; no general proxy for elections (Sections 9.1, 9.3, 9.4)

Amendments

Reference to Article 28 but not provided in excerpt; certain changes require consent of affected home owners and Institutional Mortgagees (Section 6.3 (reference to Article 28); S)

Amenities

Recreation areas, stormwater management facilities, common parking areas, internal roadways, lakes, trash compactors, mail kiosks, wetland/conservation areas, buffers, perimeter walls, gated entry (if any) – all part of Association Property (Section 6.5)

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