1342 Drexel Condominium Association, Inc.

Key facts from 1342 Drexel Condominium Association, Inc.'s documents

Reflects the 1991 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Article I: 'submits the same to Condomin)

Units / lots

19 residential units (Page 133 (1485761 133): '1342 DREXEL CON)

Governing law

Chapter 718, Florida Statutes (Condominium Act) (Article I: 'pursuant to chapter 718, Flo)

Assessments & dues

Estimated at $___ per month (blank in document) – no specific amount given (Agreement of Purchase and Sale, Paragrap)

Special assessments

Allowed; subject to 75% unit owner approval if over $250/year/unit (except emergency or reconstruction). Emergency assessments need Board approval only. (Article VII(F) and (H): 'Special Assessm)

Collections & liens

Unpaid assessment becomes a lien upon recording claim of lien; lien subordinate to bona fide Institutional First Mortgages; Association may foreclose lien like a mortgage; may also seek money judgment; may bid at foreclosure sale. (Article VII(K) and (L)(3): 'Any unpaid p)

Reserves & fees

Working capital may be used for reserves; budget includes 'reserve for capital expenditures and deferred maintenance'. (Agreement Paragraph 4(C): 'which may be )

Pets

Not explicitly addressed in this excerpt – likely in Rules and Regulations

Leasing & rentals

Developer has right to rent units (Article V). No express prohibition on unit owner leasing in this excerpt. (Article V(A): 'Developer shall have the )

Parking & vehicles

Not explicitly addressed in this excerpt – likely in Rules and Regulations or Plot Plan

Home business

Not allowed; unit must be used as single family residential apartment. (Agreement Paragraph 3: 'subject only to )

Voting & meetings

One vote per unit; if one owner owns multiple units, one vote per unit; vote not divisible; Voting Member designated by unit owners (Article IX(C): 'each Condominium Unit sh)

Amendments

Developer may modify Condominium Documents if required by institutional lender or if changes do not detract from purchaser rights (under Agreement). Declaration amendment procedure not fully detailed in excerpt. (Agreement Paragraph 7(A): 'Seller retain)

Amenities

Recreational facilities are mentioned as part of Common Elements; specific amenities not detailed in this excerpt. (Article III(X): 'Recreational Facilities)

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