Terrace VII at Lakewood National

Key facts from Terrace VII at Lakewood National's documents

Reflects the 2021 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Phase Condominium (Page 1 title: 'TERRACE VII AT LAKEWOOD N)

Legal name

Terrace VII at Lakewood National Condominium Association, Inc. (Section 2 Definitions: '“Association” me)

Units / lots

60 (maximum if all phases submitted) (Section 3: 'The Condominium will contain)

Developer / declarant

Lennar Homes, LLC, a Florida limited liability company (Preamble)

Governing law

Florida Condominium Act, Chapter 718, Florida Statutes (Section 2 Definitions: '“Act” means the )

Assessments & dues

Each Unit shares equally in Common Expenses; assessment based on budget adopted by Association (Section 5.1: 'Each Unit, regardless of s)

Special assessments

Allowed; defined as any Assessment levied other than annual budget assessment (Section 2 Definitions: '“Special Assessm)

Collections & liens

Association has lien for unpaid assessments; priority and foreclosure provisions outlined (Sections 14.4, 14.5, 14.6: 'Lien for Ass)

Reserves & fees

Required by Act; Board includes sums in budget for repair and replacement (Section 13.5)

Pets

Section 18.13: 'Pets' – likely allowed with restrictions; text not provided. (Section 18.13: 'Pets')

Leasing & rentals

Section 18.9: 'Leases' – table of contents entry; text not provided. (Section 18.9: 'Leases')

Parking & vehicles

Section 18.12: 'Parking' – table of contents entry; also limited common elements: one covered parking space per unit (Section 18.12 and Section 3.14.2: 'Each )

Fences

Not explicitly mentioned; maintenance of Limited Common Elements may include fences if enclosed (Section 8.3.1: 'all garden items and the)

Architectural approval

Yes, for alterations by Unit Owners other than Developer; written consent of Board required (Section 11.1: 'No Unit Owner other than )

Signs & flags

Subject to Rules (Section 18.16); Developer may erect signs per Section 3.15.6 (Sections 18.16, 3.15.6)

Maintenance

Association responsible for roof maintenance, including trellises (Section 8.4: 'Trellises, if any, forming)

Insurance

Property insurance, liability, workers' compensation, flood, fidelity, directors & officers, windstorm, and other insurance as determined (Section 15.3: 'Coverage' – subsections 1)

Use restrictions

Implied by definition of Unit as dwelling; Section 18.17 (Units) likely restricts use but text truncated (Section 18.17)

Voting & meetings

One vote per Unit (Section 5.2: 'Each Unit shall be entitle)

Amendments

Amendments may be proposed by Board or by 20% of Owners; approval requires affirmative vote as specified in Section 7.1.3; Developer may amend unilaterally for corrections or as requested by institutional mortgagees. (Section 7: 'Amendments' – subsections 7.)

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