Polynesian Isles Resort

Key facts from Polynesian Isles Resort's documents

Community type

Condominium (Title and Article I(8))

Units / lots

24 units initially; projected maximum 492 units in multi-condominium complex (Article II (paragraph re: votes); Articl)

Governing law

Florida Condominium Act (Chapter 718) and Florida Real Estate Time-Sharing Act (Chapter 721) (Article I(9), Article I(21), Article II)

Assessments & dues

Not fixed; Developer guaranteed assessment would not exceed $198.93 per unit week before January 1, 1984 (Article X (paragraph re: Developer guara)

Special assessments

Allowed by Board; if not connected to operating/managerial/maintenance expense or acquisition of Association Properties, requires prior approval of majority of apartment owners (Article X (paragraph re: special assessm)

Collections & liens

Association has lien on condominium parcel for unpaid assessments; lien recorded; foreclosure allowed with notice; lien subordinate to recorded mortgages unless claim of lien recorded prior; foreclosure judgment not until 30 days after noti (Article X (extensive provisions))

Reserves & fees

Operating reserve not to exceed 15% of total projected common expenses for the year; replacement reserve mentioned in budget items (Article X (first paragraph of common exp)

Leasing & rentals

Yes; units may be rented or exchanged (Article XIV(A))

Parking & vehicles

Not specifically addressed (N/A)

Fences

Not specifically addressed; exterior changes prohibited without approval (Article XV)

Architectural approval

Yes; Board of Administration approves exterior changes; no structural modifications or exterior alterations without written consent; no painting of exterior surfaces without consent; interior color scheme, decor, furnishings determined by A (Article XIII(D) (last paragraph), Articl)

Home business

Not specifically addressed; nuisance prohibition may restrict business activities (Article XIV(D) (nuisance))

Signs & flags

Not specifically mentioned; covered by sign restriction (Article XIV(H))

Maintenance

Unit week owners responsible for proportionate share of maintenance and repair of all interior and exterior components of unit, furniture, appliances, etc.; Association responsible for common elements and limited common elements, exterior c (Article XIII(A), XIII(B))

Insurance

Association obtains casualty insurance (fire and extended coverage) on common elements and on units committed to interval ownership; public liability insurance with cross-liability; worker's compensation; other insurance as Board determines (Article XII(B), XII(C))

Use restrictions

Not explicitly stated; units may be rented or exchanged; no immoral/improper use; all laws observed (Article XIV(A), XIV(E))

Voting & meetings

24 votes total for condominium; 1 vote per unit; for interval ownership, each unit week owner gets 1/51st vote per unit week owned; votes tabulated separately (Article IX (paragraphs 2, 3))

Amendments

May be amended by recording in public records after approval by at least majority of unit week owners present or by proxy at meeting duly held; certain amendments require 75% vote; consent of institutional first mortgagees required for cert (Article XVII)

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