Bay Plaza Condominium Association, Inc.

Key facts from Bay Plaza Condominium Association, Inc.'s documents

Community type

Condominium

Legal name

Bay Plaza Condominium Association, Inc.

Governing law

Florida Statutes Chapter 718 (Declaration Preamble; Prospectus Section)

Assessments & dues

Estimated: $588 (Models B,D,E) or $708 (Models A,C,F) per year; total budget $20,596 (Prospectus Appendix B)

Special assessments

Allowed if budget deficit develops (Declaration Article 21.02 (last sentence)

Collections & liens

Association has lien for unpaid assessments, can foreclose like mortgage (Declaration Articles 14.04, 14.05)

Reserves & fees

Budget includes reserves for roof replacement ($60/month), building painting ($32/month), pavement repairs ($20/month) (Prospectus Appendix B)

Pets

yes (Prospectus Section 23; Declaration Artic)

Leasing & rentals

yes (Prospectus Section 23; Declaration Artic)

Architectural approval

prior written consent needed for exterior alterations, repainting, and outdoor items (Prospectus Section 10.3; Declaration Art)

Maintenance

Association (common element) (Declaration Article 8.01 (all parts not )

Insurance

Casualty on buildings (excluding foundation/excavation) and all personal property in common elements (Declaration Article 27.2(a))

Use restrictions

yes, single-family private dwelling (Prospectus Section 10.1; Declaration Art)

Voting & meetings

one vote per unit (Declaration Article 5.03)

Amendments

Three-fourths (75%) of unit owners, with mortgagee approval if affecting parcel, share, or voting rights. Developer may amend to correct legal description. (Declaration Article 9.01, 9.04)

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