734 Michigan Condominium Association, Inc.

Key facts from 734 Michigan Condominium Association, Inc.'s documents

Reflects the 2007 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Condominium (Section 1.3)

Units / lots

7 (seven) residential units (Section 3.1)

Governing law

Florida Condominium Act (Chapter 718 Florida Statutes) (Section 2.1)

Assessments & dues

Board of Directors prepares budget and determines assessments; allocated among unit owners in accordance with Declaration and By-Laws (Section 12)

Special assessments

Any assessment other than those in annual budget (defined in Section 2.25); power to levy stated in Section 11.1(b) (Sections 2.25, 11.1(b))

Collections & liens

Association has a lien on each condominium parcel for unpaid assessments, interest, attorney's fees and costs; lien recorded; may foreclose in manner of mortgage foreclosure (Section 13.2, 13.3, 13.4)

Reserves & fees

Reserves required by Act or established by Association included in Common Expenses (Section 2.11 (Common Expenses include re)

Architectural approval

Yes, for additions, alterations or improvements to Common Elements, Limited Common Elements, or structural changes to Unit (Section 9.1)

Maintenance

Association responsible for roof maintenance, repair, replacement; access easement granted for roof inspection and maintenance (Section 3.4(g), Section 7.2)

Insurance

Reasonable deductible as determined by Board (Section 14.2(a))

Voting & meetings

Each unit is entitled to one vote cast by its Owner (Section 5.2)

Amendments

By Association: notice, resolution by Board or 1/3 of members, affirmative vote of Unit Owners owning > majority of units (Section 6.1). By Developer during control period: can amend without vote except for material amendments requiring con (Section 6)

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